5 things you should not do with your money to get rich - page 5.

serjent05

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Quote from: xSkylarx on November 10, 2022, 03:39:24 AM

I recommend learning before investing. In cryptocurrency, most new investors invest without proper knowledge; they base their decisions on the hype and the vloggers who introduce it. Agree with this, jumping to the conclusion that you can earn once you invest, even without knowledge. Also, be wary of scams; always conduct a background check and search for everything about the projects you want to invest in. Perform your research before getting your funds.

True we really need to do our own research and verify all the information we read or heard. There are lots of shills and fraud advertisers in cryptocurrency. Many of then even create fake news that if left unchecked can trigger FOMO in those who have no knowledge of the actual situation. We should always check the sources of information and stay away from projects and cryptocurrency that do this kind of dirty trick. Projects that are lying about their news and promotions should be avoided at all cost. They are liars and possibly won't hesitate to rug-pull their investors and run away with the investors' money.

So it is really advisable to do in-depth- research and the background of the people behind the project before we invest in.

xSkylarx

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Quote from: Maidak on November 18, 2022, 09:20:21 AM

Quote from: xSkylarx on November 18, 2022, 07:51:57 AM

Nowadays, most newbies only do their research after being scammed; they have learned from their hard mistakes.

We've all gone through those stages ourselves and it's not too bad, right? Sometimes free tips won't get much attention but once we have to spend money to get those lessons back, it becomes more valuable. For me, I also don't want to give too much advice to newbies, the best way is to let them experience it for themselves and they will quickly learn their lessons after losing money. It's not that we are heartless, but to succeed, they need to know how to taste failure and then stand up for themselves.

It is very hard, but it's true. I've been scammed in a Ponzi scheme investment before, which woke me up and taught me a lesson. I just remembered that the only way to earn bitcoin before was to buy and profit from it through investments, much like in a Ponzi scheme, but it turns out I was duped! I really felt bad that day. I wanted to punch the people behind it, but it turns out that it is such a good lesson not to do it again, and I was also able to find other ways to earn bitcoin, which is still my way to earn right now.

CageMabok

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The theory to be rich is certainly very much and massive even when I was in school a lot of lessons to educate became rich, but in fact sometimes it is very different, many people who when school are lazy and do not graduate but after about 10 years he looks rich and there are smart friends but Become an employee.

Being rich is not seen from the background of which school graduates are, even though some people see this as a determination now. Because being rich doesn't always have to start from scratch as long as you can fight your laziness at work. You can see examples of family heredity in three people who are already successful and getting rich at this time, they are Jeff Bezos, Bill Gates, and Elon Musk who now have very extraordinary businesses and have become very rich.

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Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

5. Don't invest suddenly

- In my experience, I have also participated in this type of investment without thinking immediately or doing research because I was just
carried away by the hype. It's just like the "Get rich quick" where your 1k$ will turn into 10k$ after 3 days, things like that. Just like before
the rise of cryptocurrency projects, there were a lot of them but in the end, they turned out to be scams, but I don't blame them all
because there are legit crypto projects and there are others that are just scams or shitcoins, this is just an example.

But I'm not saying that you shouldn't invest in crypto, I think we shouldn't make a hasty decision so that our capital doesn't go to waste.

Making hasty decisions without taking enough time to conduct research and the misconception about getting rich quickly is what makes any rich investor who has good capital lose it in scam projects and meme coins. Doing lengthy research about the currency project that you intend to invest in takes only a few hours and seeking advice from expert analysts takes only a few minutes, so we all have not to rush to make an investment decision, because this will depend on it, either you choose a good project and double your capital, or you lose your money and return to a life of poverty.

Maidak

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Quote from: xSkylarx on November 18, 2022, 07:51:57 AM

Nowadays, most newbies only do their research after being scammed; they have learned from their hard mistakes.

We've all gone through those stages ourselves and it's not too bad, right? Sometimes free tips won't get much attention but once we have to spend money to get those lessons back, it becomes more valuable. For me, I also don't want to give too much advice to newbies, the best way is to let them experience it for themselves and they will quickly learn their lessons after losing money. It's not that we are heartless, but to succeed, they need to know how to taste failure and then stand up for themselves.

xSkylarx

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Quote from: Jatiluhung on November 10, 2022, 09:17:19 AM

Quote from: xSkylarx on November 10, 2022, 03:39:24 AM

Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

5. Don't invest suddenly

- In my experience, I have also participated in this type of investment without thinking immediately or doing research because I was just
carried away by the hype. It's just like the "Get rich quick" where your 1k$ will turn into 10k$ after 3 days, things like that. Just like before
the rise of cryptocurrency projects, there were a lot of them but in the end, they turned out to be scams, but I don't blame them all
because there are legit crypto projects and there are others that are just scams or shitcoins, this is just an example.

But I'm not saying that you shouldn't invest in crypto, I think we shouldn't make a hasty decision so that our capital doesn't go to waste.

I recommend learning before investing. In cryptocurrency, most new investors invest without proper knowledge; they base their decisions on the hype and the vloggers who introduce it. Agree with this, jumping to the conclusion that you can earn once you invest, even without knowledge. Also, be wary of scams; always conduct a background check and search for everything about the projects you want to invest in. Perform your research before getting your funds.

Sometimes beginners always skip this important step (analysis). they sometimes always believe more in influencers who suggest investing in a project, and get carried away by the hype. maybe if it is a short term investment it can be tolerated and can even be profitable as long as we know when to enter and when to leave. like entering investing at the beginning of the hype and after seeing the hype at its peak then rushing out of the investment because after the hype is at its peak then that is a sign that the hype will end. but following the hype for long-term investing is a fatal mistake that beginners usually make.

That is why those new coins going out in the market are hiring influencers to do a video and promote it on their channel or page. Most newbies will follow the influencers' financial advice. This really happens a lot; there are a lot of influencers who do this but end up losing all their money. Only influencers can benefit from it, and after the coin hype is gone, the influencer will not give any statement. Nowadays, most newbies only do their research after being scammed; they have learned from their hard mistakes.

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Quote from: Finestream on November 14, 2022, 05:12:34 PM

Quote from: 19Nov16 on November 06, 2022, 12:22:04 AM

Sometimes people are too tight and obedient to the theory to be rich, many things are done such as buying books, seeing YouTube to come to the seminar to become rich, from many things I understand that to be rich then the important thing is not afraid of risks, we can business , investment or anything but if you are always afraid and continue to calculate opportunities then we will never be rich.

By taking some risks and grab every good opportunities that come, we will have bigger chances to grow ourselves and become rich in the making. It’s not the money actually that get us rich, it’s how we manage our finances and spend based on a budget plan that make us eventually rich. And of course, having a positive spirit despite of some losses, it will also lead us to succeed in our ventures in life.

It is not easy to become rich and it is not a day plan work, it is a plan work that can Take some long time. To become rich many things required to be done, becoming rich means a lot that one needs to be very discipline on how money should be spent well. One of the things many people finds very difficult is how to save money.

One who is not strong enough and discipline will always find it difficult to save money to become rich. Acquiring wealth requires a lot self work to be done, and staying rich is a difficult task. Being rich is not the end of everything but how to remain rich.

Finestream

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Quote from: 19Nov16 on November 06, 2022, 12:22:04 AM

Sometimes people are too tight and obedient to the theory to be rich, many things are done such as buying books, seeing YouTube to come to the seminar to become rich, from many things I understand that to be rich then the important thing is not afraid of risks, we can business , investment or anything but if you are always afraid and continue to calculate opportunities then we will never be rich.

By taking some risks and grab every good opportunities that come, we will have bigger chances to grow ourselves and become rich in the making. It’s not the money actually that get us rich, it’s how we manage our finances and spend based on a budget plan that make us eventually rich. And of course, having a positive spirit despite of some losses, it will also lead us to succeed in our ventures in life.

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Quote from: rahmad2nd on November 10, 2022, 02:00:01 AM

Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

5 things you should not do with your money to get rich or advance your lives
~snip~

Overall the points you say are basically true. however, despite all that. the question is, can you be consistent with the points you say in this long list. these points are the basic things to be applied to each individual, if you want to develop. however, to get to that point.
One needs practice, knowledge, guidance and experience. Patterns such as these examples can be applied from a young age. you have to get used to it to that point. if you already have good management and are trained, especially regarding how to manage money properly and correctly. as you said in this thread, then, you should already be a rich person.

Being consistent is not something you actually "do", it needs to become natural. So, if you are trying to follow these rules then you are in a bad ride and it will cause you to lose a lot of money because you can't be consistent with it.

However, if you followed it long enough then you don't even "try" to follow them, you just know them and you act like that, which creates absolutely no problems at all. That’s what I am trying to do, not just follow anything at all, just know what’s right and just do that, naturally. If it comes from within then you will always be right, but if you read something and try to follow that then it’s not an instinct and you will eventually fail.

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Quote from: odunybiz on November 07, 2022, 07:42:12 PM

Quote from: burugcrypto on October 31, 2022, 10:13:19 AM

In my PoV,

3 - Never be greedy or foolish

Greediness is the most that kill humans. We are just almost greedy in all we do in life.

Yes, greed is a human trait that we often encounter. and with greed all will be destroyed. because, greed is excessive lust, which cannot be controlled.

May we all be kept away from excessive greed.

Jatiluhung

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Quote from: xSkylarx on November 10, 2022, 03:39:24 AM

Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

5. Don't invest suddenly

- In my experience, I have also participated in this type of investment without thinking immediately or doing research because I was just
carried away by the hype. It's just like the "Get rich quick" where your 1k$ will turn into 10k$ after 3 days, things like that. Just like before
the rise of cryptocurrency projects, there were a lot of them but in the end, they turned out to be scams, but I don't blame them all
because there are legit crypto projects and there are others that are just scams or shitcoins, this is just an example.

But I'm not saying that you shouldn't invest in crypto, I think we shouldn't make a hasty decision so that our capital doesn't go to waste.

I recommend learning before investing. In cryptocurrency, most new investors invest without proper knowledge; they base their decisions on the hype and the vloggers who introduce it. Agree with this, jumping to the conclusion that you can earn once you invest, even without knowledge. Also, be wary of scams; always conduct a background check and search for everything about the projects you want to invest in. Perform your research before getting your funds.

Sometimes beginners always skip this important step (analysis). they sometimes always believe more in influencers who suggest investing in a project, and get carried away by the hype. maybe if it is a short term investment it can be tolerated and can even be profitable as long as we know when to enter and when to leave. like entering investing at the beginning of the hype and after seeing the hype at its peak then rushing out of the investment because after the hype is at its peak then that is a sign that the hype will end. but following the hype for long-term investing is a fatal mistake that beginners usually make.

xSkylarx

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Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

5. Don't invest suddenly

- In my experience, I have also participated in this type of investment without thinking immediately or doing research because I was just
carried away by the hype. It's just like the "Get rich quick" where your 1k$ will turn into 10k$ after 3 days, things like that. Just like before
the rise of cryptocurrency projects, there were a lot of them but in the end, they turned out to be scams, but I don't blame them all
because there are legit crypto projects and there are others that are just scams or shitcoins, this is just an example.

But I'm not saying that you shouldn't invest in crypto, I think we shouldn't make a hasty decision so that our capital doesn't go to waste.

I recommend learning before investing. In cryptocurrency, most new investors invest without proper knowledge; they base their decisions on the hype and the vloggers who introduce it. Agree with this, jumping to the conclusion that you can earn once you invest, even without knowledge. Also, be wary of scams; always conduct a background check and search for everything about the projects you want to invest in. Perform your research before getting your funds.

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Well I also think that 'good things come to those that wait'. I do believe the good things come to those that wait even if it is about waiting for bitcoin to start another 'bull run' and not to panic sell but just hodl your coins.

For example, being patient and holding onto a great investment can be difficult but if you are patient you will see the biggest returns on your investment. Patience is absolutely one of the most valuable virtues.

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Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

5 things you should not do with your money to get rich or advance your lives
~snip~

Overall the points you say are basically true. however, despite all that. the question is, can you be consistent with the points you say in this long list. these points are the basic things to be applied to each individual, if you want to develop. however, to get to that point.
One needs practice, knowledge, guidance and experience. Patterns such as these examples can be applied from a young age. you have to get used to it to that point. if you already have good management and are trained, especially regarding how to manage money properly and correctly. as you said in this thread, then, you should already be a rich person.

Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

5. Don't invest suddenly

- In my experience, I have also participated in this type of investment without thinking immediately or doing research because I was just
carried away by the hype. It's just like the "Get rich quick" where your 1k$ will turn into 10k$ after 3 days, things like that. Just like before
the rise of cryptocurrency projects, there were a lot of them but in the end, they turned out to be scams, but I don't blame them all
because there are legit crypto projects and there are others that are just scams or shitcoins, this is just an example.

But I'm not saying that you shouldn't invest in crypto, I think we shouldn't make a hasty decision so that our capital doesn't go to waste.

yes, that's what one should do if you want to invest. especially investing in new coins which are prone to big risks. at least, before someone starts investing. he must understand what he will do, he must learn things related to what he will invest.
Having basic knowledge is very important, rather than just being carried away by hype or market sentiment. someone needs learning, especially from people who are more competent.

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Quote from: harizen on November 05, 2022, 05:32:46 PM

I will rephrase it to "5 things you should consider doing with your money to avoid major financial problems".

This is determined if we arrive at an accurate definition of what "wealthy" is. Getting rich does this mean achieving large financial surpluses? But to what extent exactly? It is assumed that there are limits to this ambition so that it can be achieved, otherwise we will enter into a state of mental illness for a person whose priority is to earn more money.
Too many lucky people would not have been able to make profitable surpluses if there were no fools who mismanaged their money at a certain time to make others deserve it.

CryptoBuds

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Quote from: CryptoYar on November 04, 2022, 02:57:47 PM

If you become rich by doing all this, then what is the use of such richness? I mean colorless life

what is the use of such richness? When you can't buy a new phone while all your friends have the latest model?

what is the use of such richness? When can not change your Old car Cry

?

If someone wants to be rich by living this kind of life then good luck to him from my side.

Well spoken, It is true that the OP's advice is not completely useless, but if we think that we can get rich by saving then becoming rich is not in our favor. We try every day, finding wealth is so that we have a life without worrying about money, without thinking when buying the things we love, it is a tasteless life. If I become rich but I can't eat good food, can't buy expensive clothes, I would rather be poor than rich, rich without spending money comfortably is useless.

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Quote from: yudi09 on November 08, 2022, 05:41:44 AM

Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

4. Don't waste money on useless things

Not many will do this because people who work for money like us understand how difficult it is to save money from working.
We do not deny that there are some people who do this because they forget the preparations that will be prepared for the future such as getting married, owning a house, medical expenses and other needs.

Whoever "remembers" then he will be saved.

Some people live as one day millionaire so even if they are earnings still they exceed because they buy useless things and want to be in on what is latest on current trend so this also make their life miserable because they cannot save for their selves which they can use in times of emergency or other things more useful like what you mention above.

I will add Don't lend money if you don't really need it and don't lend money to people who will not pay you this traits could make us drain because if we cannot control this for sure people will abuse us or we will depend by lending money to others.

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Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

4. Don't waste money on useless things

Not many will do this because people who work for money like us understand how difficult it is to save money from working.
We do not deny that there are some people who do this because they forget the preparations that will be prepared for the future such as getting married, owning a house, medical expenses and other needs.

Whoever "remembers" then he will be saved.

Smack That Ace

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Quote from: harizen on November 05, 2022, 05:32:46 PM

That's really a set of good advice however we should not have the mindset that doing that, it's the road to becoming rich.

The key here is proper financial management and that's necessary to avoid a financial crisis in the future.

I will rephrase it to "5 things you should consider doing with your money to avoid major financial problems".

Yes, the title may not be very accurate, the advice is very helpful but to become rich we need a plan and constant effort, saving is not enough. Not wasting money on useless things is good but cannot make us rich.

Quote from: ?? on ??

Quote from: Gozie51 on November 05, 2022, 06:50:34 PM

Quote from: harizen on November 05, 2022, 05:32:46 PM

The key here is proper financial management and that's necessary to avoid a financial crisis in the future.

This is important because being rich is the principle that you lay down from beginning or early stage. Only few get rich without proper planning and those are the type classified as luck. If you want to be rich it takes planning and management which are the real factor of being rich. Example you can plan to save a dollar daily and the next year you will have $365 and you can continue, for 10 years you can have $365 x 10, that is $3,650, this takes planning.

I want to add one more point to the OP - and that is don't trust anyone and never lend your money
I have suffered so much because of this...
i still repent and curse myself for the mistake i have made.

I don't completely agree with you on this, you can't succeed alone, you need to have everyone's help, I mean we need to help each other so that we can be successful. Lending money to others is part of managing your capital, you need to determine who is trustworthy and who should not be approached.

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Quote from: gunhell16 on October 31, 2022, 03:08:54 AM

5. Don't invest suddenly

- In my experience, I have also participated in this type of investment without thinking immediately or doing research because I was just
carried away by the hype. It's just like the "Get rich quick" where your 1k$ will turn into 10k$ after 3 days, things like that. Just like before
the rise of cryptocurrency projects, there were a lot of them but in the end, they turned out to be scams, but I don't blame them all
because there are legit crypto projects and there are others that are just scams or shitcoins, this is just an example.

But I'm not saying that you shouldn't invest in crypto, I think we shouldn't make a hasty decision so that our capital doesn't go to waste.

ah ah it's called FOMO

Topic: 5 things you should not do with your money to get rich - page 5. (Read 1902 times)