Topic: "10 Common Mistakes We make with MONEY" - page 8. (Read 2198 times)
After reading this post I have shared it in virtually all my social media page so that all my friends and love one can learn from this inspiring and education information. I have make some of the mistake in the past. The post is pointing finger at me.
Very interesting write up. I wish people can actually avoid all the mistakes listed here. But it is almost impossible as one may be guilty of breaking at least one. But this would act as a voice of caution.
Yes.This could be a very helpful write up for those who want to avoid debts,eager to save,and make ways to yield even more from your savings.If you really want not to make your money be worthless in the end,learn to manage all your expenses and set limits for it.Do not buy all those unnecessary stuffs that are not really needed by your family the most. 
I agree with everything except this part:
Normally hard working people don't have time for learning about investment. If they are professionals in what they are doing, they receive good payment for their job, but it's very hard to become professionals in other fields like investment, for example, at the same time. I think for those people it's either spending or saving, but investing is not a good option for them.
Investing is not as hard as it seems as long as you are willing to invest for the long term, if you want to be an investor looking at stocks all day then you need to dedicate fully to that activity but if the only thing you want to do is to grow the size of your wealth then that is very easy, investing in bitcoin and holding for years is one of the easiest ways to earn a lot of money with almost no effort. Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.
Normally hard working people don't have time for learning about investment. If they are professionals in what they are doing, they receive good payment for their job, but it's very hard to become professionals in other fields like investment, for example, at the same time. I think for those people it's either spending or saving, but investing is not a good option for them.
Well, i agree with content of comments for the OP author and I would just like to add something with respect to the subject. Never spend too much more than you earn. Do not buy things that are not really important to you. Do not make any loans while you can still survive with your current budget. Do not pretend that you had enough money where you are not and chances are, you may be spending a lot money just to impress your friends or neighbors in your community. /with regards to crypto currency, do not invest all your money in cryptocurrency wherein you should only invest what you can only afford to lose.
Very interesting write up. I wish people can actually avoid all the mistakes listed here. But it is almost impossible as one may be guilty of breaking at least one. But this would act as a voice of caution.
Mistake 5: Do not sign as a guarantor to anyone on financial matters unless you have enough or are willing to pay any misappropriation or money that may arise from the person’s misdeed. THIS IS VERY IMPORTANT. It can cause you problems.
Sometimes I wonder how easy it is for people to make this mistakes whereas they are quite avoidable. Some people hold money at times without having real plan for the money. often at times, they end up squandering the money on irrelevant things. The advice is simple, save up any money you don't want to spend immediately.
To have plans you need money for realization, more money better and greater realization is. Thing with saving is that you need to have what to save, we all make some money and we have needs and bills to pay, but in most cases people don't earn enough to cover all that, how that person can save? In that situation lives more then 50% of world population. Its easy to save when your income is higher then your expenses, if its other way around you really need to be magician to save.
People will always makes mistakes with money, nothing can change that.. Simple or complicated mistakes, no matter which one, and looks like most people needs to make that mistake to learn from them, and there is always be people who will never learn.
Sometimes I wonder how easy it is for people to make this mistakes whereas they are quite avoidable. Some people hold money at times without having real plan for the money. often at times, they end up squandering the money on irrelevant things. The advice is simple, save up any money you don't want to spend immediately.
With what has been discussed here, expect people to start making wiser decisions when it comes to handling money, saving it, or investing it. Always understand the current situation of things before making any decision. Don't be hasty about any investment or saving decision.
These are important points to take note of. But is it actually possible for one to avoid all these mistakes like the ten commandments? Just asking. 
What you've all said was true never lend moneybfor someone to loose,and never spent money if you havent received yet or expected,i used to experienced that before and now,,,so im very much thankful in this kind of topic it was so knowledgable you can get lots of informations to not to loose all your money in a sudden.
My main mistake that I am making with my money is keeping tham saved without trying to invest them properly, I`m a typical coward here 
This mistakes are indeed living with us till date. People will never learn no matter how much you try to preach to them so that they can avoid common mistakes such as these.
lol...you're right though. Maybe it's part of us as being human because we get a lot of warnings and experiences that sometimes we never learn from and continued to make the same "silly" mistakes that make us loose our money I believe that people lose money not because they invest money in a wrong way but they don't invest their time in a right way. I still follow the principle of investing time before investing money and understanding something deeply. I have seen newbies doing the same mistake again and again and getting the same results. Knowledge and experience definitely help to avoid many mistakes not only in crypto but every other sector out there.
Thanks for sharing your experience with us. I also believe in your principle of investing time before money. Before investing, we should always consider the timing too. Not just throwing money around all in the name of investing. Nevertheless, it is very good to invest for the future.
This mistakes are indeed living with us till date. People will never learn no matter how much you try to preach to them so that they can avoid common mistakes such as these.
Yeah that really good man. In short we should mind our own business and nothing else. We should never ever get ourself into trouble of giving away money with any sort of way lending, loan, or anything else. Investing in such way means always calling for the risks. If we have a job then just keep it simple by having expense sorted out and checking how much money will go into the savings account etc. I guess that way we can always be on the safer side of money making. There will be more savings rather than risks.
I believe that people lose money not because they invest money in a wrong way but they don't invest their time in a right way. I still follow the principle of investing time before investing money and understanding something deeply. I have seen newbies doing the same mistake again and again and getting the same results. Knowledge and experience definitely help to avoid many mistakes not only in crypto but every other sector out there.
I think that money should work. If there is money, they must necessarily be invested, but in different spheres of activity, for example, in the crypto currency, real estate, investment fund.
Mistake 1: Never lend someone money you are not willing to loose. When you lend someone money, always assume you may never get it back. If you feel that after lending the money out you may not be able to survive with what is left with you, then simply don’t lend the person.
Mistake 2: Whenever you have the opportunity to meet a wealthy or an influential person, never you ask for money, but rather ask for ideas or ways which you can grow your own business. That will make you a more purposeful person.
Mistake 3: Never you spend money you haven’t received or expecting. In other words, do not buy anything on credit because Mr. A has promised you certain money, or that Mr. B will pay you the debt he owes you. It might make you to run into debts should the source fails to pay. I hope you understand this point.
Mistake 4: For proper saving, do not attempt to save what is left after spending, but rather spend what is left after saving. Like you already know, human wants are insatiable, as long as you have the money, you will always have something to buy. Also, never you keep any money you are not going to spend on short term handy or within easy reach. It is best to keep it safe away.
Mistake 5: Do not sign as a guarantor to anyone on financial matters unless you have enough or are willing to pay any misappropriation or money that may arise from the person’s misdeed. THIS IS VERY IMPORTANT. It can cause you problems.
Mistake 6: Do not consistently spend more than you earn or spend all that you earn. You may not have anything for the rainy days or at retirement.
Mistake 7: Do not spend more money on an item you can purchase same for less within the same neighborhood. It is not a wise spending.
Mistake 8: Never you borrow money that accrues interest to start a business. That will put you undue pressure as you will be working to service the debt and the accrued interest for a long period of time. It could be frustrating especially if things are not as perfect as you would have predicted.
Mistake 9: Do not starve your family or fail to take your child to the hospital SIMPLY because you want to save the money you have for the future. It might leave you in regrets.
Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.
Which of these mistakes do you think people are guiltier of? Do you think there are other mistakes not included here? Please share your thoughts.
Mistake 2: Whenever you have the opportunity to meet a wealthy or an influential person, never you ask for money, but rather ask for ideas or ways which you can grow your own business. That will make you a more purposeful person.
Mistake 3: Never you spend money you haven’t received or expecting. In other words, do not buy anything on credit because Mr. A has promised you certain money, or that Mr. B will pay you the debt he owes you. It might make you to run into debts should the source fails to pay. I hope you understand this point.
Mistake 4: For proper saving, do not attempt to save what is left after spending, but rather spend what is left after saving. Like you already know, human wants are insatiable, as long as you have the money, you will always have something to buy. Also, never you keep any money you are not going to spend on short term handy or within easy reach. It is best to keep it safe away.
Mistake 5: Do not sign as a guarantor to anyone on financial matters unless you have enough or are willing to pay any misappropriation or money that may arise from the person’s misdeed. THIS IS VERY IMPORTANT. It can cause you problems.
Mistake 6: Do not consistently spend more than you earn or spend all that you earn. You may not have anything for the rainy days or at retirement.
Mistake 7: Do not spend more money on an item you can purchase same for less within the same neighborhood. It is not a wise spending.
Mistake 8: Never you borrow money that accrues interest to start a business. That will put you undue pressure as you will be working to service the debt and the accrued interest for a long period of time. It could be frustrating especially if things are not as perfect as you would have predicted.
Mistake 9: Do not starve your family or fail to take your child to the hospital SIMPLY because you want to save the money you have for the future. It might leave you in regrets.
Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.
Which of these mistakes do you think people are guiltier of? Do you think there are other mistakes not included here? Please share your thoughts.
I'll take all your advice.
I agree with everything except this part:
Normally hard working people don't have time for learning about investment. If they are professionals in what they are doing, they receive good payment for their job, but it's very hard to become professionals in other fields like investment, for example, at the same time. I think for those people it's either spending or saving, but investing is not a good option for them.
Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.
Normally hard working people don't have time for learning about investment. If they are professionals in what they are doing, they receive good payment for their job, but it's very hard to become professionals in other fields like investment, for example, at the same time. I think for those people it's either spending or saving, but investing is not a good option for them.
Jump to: