Topic: "10 Common Mistakes We make with MONEY" - page 9. (Read 2198 times)
There were explanations that could be very nice and helpful. I totally agree with all of them.
It is always good that when you lend someone money, you also have the ability of forgetting about that money so that you won't be heart broken if the person fails to pay back the loan.
Good to see that you have differentiated each common mistakes and segregated each one with explanation. I have done most of the mistakes and have avoided few recently by putting a huddle to it. What ever be the advice on money management, it is the experience we get from our own when managing money and when we face failures in it, then that will be a great experience for future learning.
The most common mistakes of other person is not saving their money in the bank. When a person holding much money on hand sometimes they buy all they want. It is like they dont control themselves in buying not so important things. They must know how to manage their money to be ready for emergency purposes.
they must make a list contain their daily need.if they dicipline with this list, they control their personal spending.no useless thing they buy.this is the easiest way can do.
This is absolutely true, but still it doesn't matter anymore as for the majority of the people here in our world are commonly fond of making mistakes and after that they will surely look for someone to rely on.
They don't actually see the consequences at first or let's just say they don't even give a single thought on what they're gonna do.
(Actually I'm also one of the pretty bastards mentioned above hahaha
)
And I think, this common attitudes will never be gone.
If you want to be successful in life the most important thing to do is not to make the right decisions all the time but to not make as many mistakes, even if that may seem like the same thing it is not true, many people destroy their lives because of their mistakes if you just avoid the most obvious ones your life will be way more successful than theirs. They don't actually see the consequences at first or let's just say they don't even give a single thought on what they're gonna do.
(Actually I'm also one of the pretty bastards mentioned above hahaha
)And I think, this common attitudes will never be gone.
The most common mistakes of other person is not saving their money in the bank. When a person holding much money on hand sometimes they buy all they want. It is like they dont control themselves in buying not so important things. They must know how to manage their money to be ready for emergency purposes.
they must make a list contain their daily need.if they dicipline with this list, they control their personal spending.no useless thing they buy.this is the easiest way can do. 
The most common mistakes of other person is not saving their money in the bank. When a person holding much money on hand sometimes they buy all they want. It is like they dont control themselves in buying not so important things. They must know how to manage their money to be ready for emergency purposes.
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.
This is not applicable all the time because there are times when you don't have a choice but to borrow money even if it has an interest because you cannot start your business if you don't have any capital. You just have to plan properly as to how you will pay back your debt and have a schedule or at least a back up plan in case the business goes wrong. Find an extra income then and do every thing you can to pay your interest. You may have a hard time at first but then you will be able to get through it with proper financial management.
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.
my simple opinion of money-related, able to work and earn money quickly and in large quantities, able to generate and make the system how the money is able to come alone with the business or skill that I have, able mengantur money with for the purposes and needs as well as for savings , save money without having to be taken for necessities and needs, able to control money without having to reduce needs and needs, be able to manage money efficiently and full control both urgent needs, and last able to live with little money but survive with long time, hopefully useful and successful for all of us
Almost everyone has made one of this mistakes at one time or the other. A lot needs to be learnt here.
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 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 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.
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 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 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.
I personally like which I have quoted. I really appreciated all the advises you put on this.
Almost all of your statements are quite good reminders for everyone and not limited to people with different state or level in society.
As a newly graduate, I have experienced some financial situations already and finding my own unique way of handling it myself. If I came up with new ideas, I will be glad to share it also. Good work on this.
money has a tremendously powerful power, if someone has a lot of money but can not use it properly then money will change his life worse.
The biggest mistake is to keep them under the bed or in the bank, and everything else - wherever we spend them, it is already investing and it does not matter whether it will be crypto currency or something else.
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.
Meeeehn… I love this and is really helpful. Well, I am already not the type that lends money I’m not ready to lose, cause you don’t trust people these days. If they want to borrow money they should go to the bank and borrow and not coming to others that are working hard on their own. 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.
All my life the last thing I have ever done is borrow money from anyone, cause I always feel like borrowing money from people means carrying more burden. And luckily my business is going pretty fine and I always put my trust in God.
There are a lot of mistakes in this market that are worth letting us learn, only to find out how mistakes are made.
i think all you have mentioned sums up all our mistakes in handling money, it is pretty amazing how obvious these mistakes but still, everybody is guilty of, even if we try to avoid these mistakes, we still fall for one, i guess life is about gamble, everything is uncertain and unsure, what matters is, there are somebody who reminds us not to commit these mistakes and op is certainly one of them, thanks. may i add, never fall for schemes with less capital but promises a rapid and big return of investments.
I think more and more people upgrade their lifestyle as they have s bigger pay. I'm not saying that we shouldn't do this but if we upgrade our lifestyles too much then no matter how much pay you would have, you won't get satisfied. I suggest living simply and living within your means plus savings for yourself and family.
I am fond of some of this mistakes. I have now learnt my lessons. Most times, I spend money which I don't even intend to spend at that particular time most especially when I have a lot of it in my wallet or pocket. This is something many other people do commonly too they need to be mindful of.
Those above lists are very helpful these are truly common mistakes of the users we tends to spend money without saving. Let's think of to save money first this is important that in a latter end we will not regret on our decisions. Always save for the future this is the wiseful decision.
I am fond of some of this mistakes. I have now learnt my lessons. Most times, I spend money which I don't even intend to spend at that particular time most especially when I have a lot of it in my wallet or pocket. This is something many other people do commonly too they need to be mindful of.
those mistakes were true and i have been experience such as number 8 that i was want to starting bussines but i don't have initial of money so i decide to borrow money through bank with high monthly of interest and everytime i was get profit from my bussines those money only can enough to pay my debts with eventually i was bankrupt because i spend too much money to pay interest for a long period of time
Well, what would matter in the end is how we are going to build our own strategy, since a lot of techniques out there but we can for sure come up with our own strategy, but for sure it took time before we can finally do our own strategy, it will take more time and more loses until such time that we will become expert with what we are doing. Jump to: