Topic: Biting more than i can chew. How can i do better? - page 4. (Read 825 times)

If only you invested your money on assets that have long-term potential like bitcoin, some altcoins, real estate, stocks, etc. But it is what it is. Just stop thinking about the good stuff that you would've done to your money in the past. The most important is you are getting your own realizations OP. Admitting the mistakes you made in the past helps you close that chapter and start a new one.

You are not the only that is starting all over again. I am also in the same situation. We just have to be optimistic and find ways to keep the fire burning that will motivate us to strive harder.

There is no need to blame yourself just for pleasing other people, because basically everyone also struggles to please themselves through whatever means, including by saving more money. So you don't need to feel guilty about your own actions because when you did those things in the past it was also based on your own desires.

This kind of thing is better known as waste that has not been changed regularly so that you experience regret when you don't have much money. And this should also be a valuable experience for yourself so that you can make changes so that you are no longer careless and wasteful when it comes to using money. Because the basic change is within each of us to change it, not from other people's suggestions that can be simply ignored.

Op, thank God that there is life, mistake is inevitable but financial mismanagement is not something we can fix easily, life is a stage, some events happen for us to learn, and that's if we will learn, when you have money it becomes difficult for you to differentiate between bad and good friends because at this point everyone is your friend, they are after what you can offer to them not what they can give to you, this is the best time for you to prepare yourself for the next stage of your life, correct those things that can bring you down when you climb again, there are greater opportunities ahead, you have a good skill, you still have some contact left, try as much as possible to keep those client, believe in yourself, I know how this situation can be, but you will overcome it.

I agree with what you stated since there are some individuals who believe that having money will never run out and that you can be free from friends who aren't actually your friends but are only there to support you because they know you have a lot of money, but they also don't know that when you lose money. The unfortunate truth is that.

We have to avoid making the same mistakes we have in the past by learning from them. Prioritizing what is best for our families or ourselves and what will help us for the rest of our life is something we must learn to do. And live a strategic life at all times.

Changing our circle of friends can sometimes change our mindset. If we are friends with people who care about finances, how to budget and are also starting to invest, we will usually join in this, now it may seem too late for you because you are facing financial issues, but everything needs to be prepared, including preparing yourself when your finances start to stabilize so that you can maturely respond to how to use that money, and start thinking about investing and spending only on important things unless your finances can afford to buy luxury items.
Get into the habit of only spending the money you actually have, meaning never go into debt or use a credit card because you think you can pay it off in installments because if you get used to it then you will usually get caught up and experience financial difficulties again.

I'm guilty of pleasing people too. If I were to advise, savings helps a lot whether in crypto or irl.

I'm just as careless as you in regard to money, possibly worse, do not care to press sell button even if lot of money is lying in front of me, have made lot of such decisions and regret it a lot. Went through not much money phase few months ago, realized value of it yet lapse into old habit of not caring about it when there is flowing in plenty.

I think, you understand that your problem is your attitude, you started spending money in clubs and luxury fashion. There is nothing wrong with that but there is one exception, you have to move on this lifestyle when you have high net earnings and need to improve your social status in order to step up.
If you are poor and want to become a rich or at least perform well in your life, you have to forget fun, at least I had to or I would say, I never had fun. If you forget to think about having fun and dedicate yourself to improving your life, that includes more work, more discipline, more work on improving your personality, making yourself more charismatic and so on, then you'll succeed further. It takes time, it takes discipline, it will eat years of your life, you'll suffer in your 20s instead of having fun. You are supposed to have fun in your 20s, right? Forget it, suffer and focus on your life, you'll be on top in your 30s and so on.

I agree with you that money should be spent but it should be spent wisely, it should be spent in a sense that it's stupid to work years and save money because inflation eats it and in ten years, your $10 000 becomes $7000 but you always should have some money for emergency cases.

Hi ! Nothing new, surprising or not natural you have described, this is how many people behave
And it's not a problem, the problem will be if you don't change your approaches. I explained to my son the interaction with money like this:
- consume wisely
- plan your income and expenses

What does it give and how does it help?
Intelligent consumption. More precisely, irrational consumption is one of the problems of our community. We often, very often buy a lot of things we don't need ! This applies to everything from food, to... appliances/cars. And in the latter case there is often an attempt to buy expensive things to "improve the image", which, believe me, does not improve the image, but only increases unnecessary costs. If a person wears torn sneakers, does not take care of himself, but he has the latest iPhone - it does not mean that he can be attributed to the wealthy class
Income and cost planning. This is very important for managing personal finances. Firstly, you can see your balance, secondly, you understand what you spend more money on, what is really necessary and where you can reduce unnecessary expenses. Thirdly, you can PLAN some financial operations

We pray that the situation will be much better because everyone has experienced the worst conditions in their life, but determination and enthusiasm will bring hope for us to keep going. We can also learn from this disaster that friends are not only when we are happy, but they are also present during the worst conditions we experience to provide support for us to get up and start over what we have lost. Now just focus on self-development to reach the stage of financial improvement and you need to see the potential of what you can do amidst the worst conditions you are experiencing.

However you have the choice to get back up to develop your existing potential and only you know that potential. Remember one thing if you feel tired of the conditions that are happening and if you have a family then do positive things to get up and never give up even though you have experienced failure. You will achieve financial stability if you have a thorough plan to start with and see what potential you can develop and I am sure you will rise again to start a new chapter.

We all learn from our mistakes and nobody is above making mistakes. Now that you have encountered financial instability as a result of your past financial mismanagement, getting back up on your feet is not going to be easily. It will be very painful slow and steady process but if you stick with it, you will emerge a financial giant. My two cents here are 1- begin to spend wisely - you cannot spend wisely if you not have a spending plan which is what we call a budget. It is your financial blueprint. What is not in the budget shouldn't be considered unless it is a matter of life and death. Secondly, save for emergencies and exigencies. Whether we like it or not, there will always be stuff that will want to catch us off guard and it is our emergency savings that would come to our rescue at those unique times. I hope you get the time to read this and think about how to apply it to your life.

Agree to your assumption, this is a very valuable life lesson and it seems that everyone needs to experience something like this in his life, none other than because we can get better from the bitter experiences we have experienced, everything will definitely have a lesson, just like you experience failure in business, if there is no failure then you cannot develop further and will not be able to know what you should do if you are in such difficult conditions. That's right, never regret what you've done, it's what should happen and God will definitely test everyone through some problems, which God definitely gives a test according to the person's ability.

Life will always spin, that's the wheel of life, you won't always be on top, everything will go in turns. Whatever happens and whatever happens to you is nothing but something that will be able to make you better, the key is that you must remain grateful, it doesn't matter if you experience a little regret because it's natural, but on the other hand you must be able to make that experience the most valuable lesson, and yes that's right with that incident then you will know what you have to do next to be better and absolutely not repeat something in the form of a possibility that will make you fall in the same hole.

It was an experience you had to learn from OP. Be thankful for those friends who still stick around in these hard times and for health and a good mindset to even think of starting afresh.
Life has happened and the way it happened to you is just to make you take a pause and reaccess the choices you have made so far.

Am glad you belong to this Bitcoin community where you are among the ambassadors of cryptocurrencies and am sure in no time, you would be able to get your life back with earnings or bounties or the best trading practice or the best way to save that would put more funds in your pocket, rather than take it away.

I think saving is enough, we don't need to live too frugally. Living frugally and being too strict with ourselves will make life more difficult and affect our health. The hardest thing is that we don't realize our problem, but in OP's case, he recognized his problem and it became easier to fix it. It's only when he doesn't recognize the problem that it's very difficult to fix.
Financial management is actually not too difficult, we just don't really want to do it, if we really want to save, there is nothing we cannot do.

OP's experience is the same as most other people's experiences after being young and having an income that makes us generous in everything and also able to fulfill what we want. Because it is a moment where a young person is given an unexpected income to be able to learn, share and enjoy, which is actually only for a moment and will be a lesson for the future after the moment begins to fade.
There's no need to worry because everything will be fine, but this moment should be used as a valuable lesson and make you more mature.
And the most important thing is that you have done good and can also help your friends even though they are far away because of your changes, just ignore them. And there is no need to ask for opinions in this incident, because it has become a life journey that everyone goes through and learns from, which will make us more mature, better and also know better what is good and what is not. What is good and what is not, and what is important and what is not important and all of this is a process of life's journey to reach a level that we have to go through and face and make it a life lesson.

Well. I can say the Friends that has left you since you have no more finances to offer them are not your success attractions neither the remainders that stayed.
Not even their fault that you got broken at this point. You were not rebelled rather they lived a dependent in you which you singularly on your own danced to the tunes.
You tends to live a celebrity and flamboyant life without diversification of your sources of income so that you can implement a financial expenditures as a manner of financial management.

However, since your success is not tied to any other your above friends, I will ask you to keep grinding, keep pushing, keep hustling and you will be on your fitness again and hope when the time comes you would learn from the pasts with the endivoirs to diversify your source of income.

Otherwise, phases of businesses are sometimes Seasonal which may either be effects of the economy which your patronages have plans to patronise you but due to the hard earning economy everyone is cutting its coat according to its size and not as you who never thought of what tomorrow would be because there was an overflow of finances on your side.
Also could be an effect of environment where there could be more competitive or relocation of your customers. So you can as well insight a survey of change of environment would have a successful change to you.

Do not feel depressed over any of the circumstances rather each and every of the circumstances should be an energymatic aspirations to inspire your ability to gear up to more effectiveness and never give up to your hustles.
Once a payday had a payoff and there still come opportunities for a rollover.

Not all wealth is good for us. Sometimes avoiding the crowd allows us to progress further. Not when the atmosphere is busy, but when we are alone, we can find the answer.
We don't need to extend it because we have a view on how to maintain a friendly relationship with a view on how to manage finances in living life.

Expenditures must be limited and minimized as best as possible. Not to make yourself stingy in giving, but because there are other things that need to be prepared. Maybe preparations for starting a family or other preparations that we need. For those of us who are still decades old, OP's story is an interesting thing to experience.

Bite off as much as you can chew.

See, this is the most important thing that really needs to happen at least once in your lifetime. Don't regret what you've done before. Those money you have spent and the time you have spent enjoying the things you like is a memory of a lifetime and it's gonna be priceless.
However, you have to always remember from now on that everything that goes up must come down at a certain period of time. You've just learned a valuable lessons and experienced the highest time of your life, now you need to fix everything up and I bet you know what you need to do to avoid struggling when times like these happens again. At least now you're more ready than not.

Your story is similar to the general experience of many youths today. They are more concerned with pleasures than securing the future. But the best part of your story is that you have realized your mistake and are willing to change from your unprofitable ways. Saving and investing is the best decision to take now that you are young because it might be difficult when you start having dependants. Some people think that it is when they have a lump sum that they would invest but they don't understand that little can make one a millionaire in the future.

There is no shame in failing and raising. You need to put yourself together, control your expenses, and save more. Designer clothing, clubs, and other luxury will always be there to enjoy. But it is wrong to lavish money on them when you don't have any investment. If you have businesses or investment that brings good returns, spending on these things will not have adverse effects on your finances. So the slogan now should be invest and enjoy in the future.

I kind of agree with this but I only see sense in accumulating cash until:

1) you complete an emergency fund of a maximum of 6 months of expenses.
2) you complete sinkings fund of foreseeable expenses.

Beyond that, I see no sense in accumulating cash, the rest should be accumulated in financial assets, mainly bitcoin but it is not bad to have an index fund or any other financial asset of your choice to diversify.

There is no longer time to mourn what has happened, and basically many people have stories like this but to varying degrees. It's just that the essence and flow of spending money is to have fun. Personally, I also have almost the same story and managed to overcome this. I mean overcoming wasteful lifestyles and having more goals to live a more useful life. A person must reach the lowest point so that he knows how valuable it is when life is still sufficient.

This is not the same but various experiences, firstly, when we are in a stable financial condition, we have to look in all directions, meaning we have to compare our conditions more with those of people who are much more difficult because that way we can be more grateful for what we have achieved so far. Secondly, you have to remember that age continues to increase, sometimes every day you get sick and the older you get, the more demands you have on family life and ensuring that your children will not have difficulties in the future. Developing a leadership mentality, especially becoming a family leader who will set an exemplary example.

It's normal to have fun every once in a while, but there needs to be limits, because you're not married, you don't feel like that's an obstacle, so don't think twice. But there are people closest to us who we can trust to give advice, even good friends will definitely give good advice too. It depends on how you get along with the people closest to you. Actually, nothing changes you other than yourself, because in the end you will be faced with the demands of maturity. No one's path in life is smooth, everyone has their own bitter story, and different paths in life will continue. You just need to reflect for a moment to see neighbors who live below you but seem to enjoy their lives even with minimal income.

If other people can enjoy life so much, those of you who have everything should be happier. In fact, no, it means that the measure of happiness is not just about having money. Life is too short to define it like that. You need to be grateful a lot when the economy is stable and have goals for the future, be it investing, giving charity, supporting your living parents or those closest to you who play an important role in your success. So the point is to live like the soil and learn from it because we will eventually return to the soil.