Topic: Biting more than i can chew. How can i do better? - page 7. (Read 744 times)

 There's the saying that once there's money, you'd have a lot of friends because just like bees are attracted to money, that's the same way they are with one who is an easy spender.
I feel the first step to changing for the better is admitting your faults because it will help speed up the recovery process more than when you choose to shift blame on others. With the current economy status, it would not be advisable to spend out of impulse or a whim but rather, have a budget and stick by it and that way you can save money.
 Being self employed has its perks as it gives you sole authority of not just the profits, but also the decision making but it can be quite telling when you have to brainstorm on ideas alone and as you mentioned you were in an accident which is quite unfortunate, it will also affect your creativity and can put a strain on you which will in turn affect the business as low performance can result to you not getting much gigs, which you pointed out by the way, so for me I'd suggest you either look for someone who you can partner with while you are recuperating so you two could brainstorm ideas together, that way the load doesn't lie on you and when the profit comes, you share fifty fifty. Yeah that's expenses you are trying to avoid but half is better than nothing.

After reading your story, there are several things you should change so that you don't feel guilty or you can change things that are not necessary. OK, here we go.

When you have money, you can buy many things you want. But you must also remember to save some of that money for your future. You must have experienced something where you didn't have any money at all and that made it difficult for you to meet your living needs. From now on, if you have it, try to take a few percent to save. That's for your future. Regardless of whether you desire to invest in Bitcoin, make sure you also save.

There's nothing wrong with giving what your friends ask for, but you should sort out which friends you should give and which you shouldn't give. You can't treat all friends the same because there will be those who intend to take advantage of you. You have to admit this and start looking for and finding friends who are truly friends as your close friends. We really like receiving praise, but it can make us arrogant and possibly put other friends down. Try learning to save money because it is for your good too.

If you can save your income from the time you start earning, you will not have difficulty surviving. But it has happened and there is no need to regret it.

Only good friends will stay with us when we are experiencing difficulties. They are the ones who will continue to fight with us and help us find solutions. You must value these friends because they are truly your true friends. Such friends are hard to find so don't disappoint them.

You have to get up, no matter what. You should be able to earn perhaps more income than before. Once you earn income, you should start saving and use some of it to invest in Bitcoin. Try to save on your expenses by buying only daily necessities. Improve your relationship with your close friends because there might be a better business offer. Ignore all the praise from people and assume that you still need to learn to improve yourself so you don't become arrogant.

You're right, nothing wrong is with OP, he only thinks of himself that way because of his losses. When we have the resources we do what makes us happy. That's what it is to the invisible hands controlling the market. The car owners he booked and clothe sellers also need to sell their products and as well spend it on what makes them happy. A business that needs a website to be happy would run to OP to get it done. These can't be controlled, it's all about how wealth circulates amongst people. I don't think Op needs a psychologist, I was reflecting on something yesterday on money spending. What do we do when we have no money to spend? this could be a good question enough to start a fresh thread, but would love to look into it here for the sake of OP. Sometimes when no money is in our possession we would manage the little funds with us and also think that we were extravagant when we had reasonable sum of money. We'll begin to see opportunities we lost, because of our drive to live a luxurious life. Does these habits change when the money comes right back? In a bit it will, but sooner we'll definitely go back to our previous ways of spending money. Hence, we'll see that the invisible hands operates around those with money and leaves people with no money alone. When we have no money, lesser people ask for our help financially compared to when we do have the funds. I do wonder about, how these people get to know that I just received money few hours back and they're seeking for my financial help. You'd notice that nothing is happening under anyone's control even OP. I can't offer him a direct response, as he's done nothing wrong. It's not his fault he ran out of sales. I know he'll be worrying about, why he didn't use those funds he felt wasted on friends in the club, to promote his business to reach better audience. I'd like to ask OP, if he used all that money to promote his business and never got a single sales from it. Would he think of himself of being irresponsible with his wealth?  Human nature feels vulnerable when restricted to different lifestyles that brings them happiness. And lack of money is the best moderator on such matters. Providing him with answers like you should learn to save next time and all that, will only worsen his private thoughts of himself. Especially, when he mentioned that we should be reasonable with the way we respond to his questions and previous behavior.

I can say OP should do that thing again. What fetched him clients and money. It's always great to notice what we do when we have no money, and things we do when we have money. It can never be similar. These are two different times in a man's life. It'll surprise you to know that, some people don't get bothered when no money is in their account. They still live a great life, due to the kind of friends and family they've got. But, it's important to also know that you can't live the way you think now, you'll live when another wealth traces its way to you. Only few men who can delay gravity. Would have money and still maintain to live their lifestyle like when they had no money. Peace.

The first thing is to read a few books that will help you expand your horizons and show the shallowness of such a basic need as the need to have a new gadget. I recommend, for example, Harrari (who calls capitalism and consumerism new religions that thies their best to convince people that the source of happiness is spending). Secondly, books about stoicism. Moreover, it might be worth consulting a psychologist, because compulsive shopping is a disorder that can be treated.

You've already taken the first step, getting interested in personal finance. There is a system that is very simple and works very well which is the 7 baby steps by Dave Ramsey, which I recommend you to follow.

It is basically about controlling expenses and income, building an emergency fund for unforeseen events, getting rid of consumer debts, and saving and investing. If you have an unstable income you have to calculate an average and spend based on that. If you have had a good emergency fund of 6 months of expenses, you would have experienced what you say has happened to you in a very different way.

Until now you had a tendency to spend everything you earned but that can change and this thread is proof of that. It's not a thing you're going to change overnight but you'll get there.

If we have money people will say "that's my brother" and vice versa...that's normal and don't think too much about it. Do it with pleasure and there will be a reward in return for you later without you expecting it. This is the same as the current money market conditions which allow investors to make bets based on the results and past correction moments tend to find support at the resistance line.

Just enjoy it, my friend..

You refer to yourself as self-employed, indicating that your income depends on your work. It's an experience that can offer valuable insights into life's realities. I would recommend considering the idea of starting your own business, one that can grow over the long term. This way, you can create a source of income that doesn't rely solely on your personal efforts. It's not always easy to be in that position, but thinking ahead is essential.

While you're currently employed, it's a good idea to explore additional income sources. Over time, you can accumulate capital to invest in the business you desire, which can lead to financial stability. Furthermore, diversifying your income across multiple businesses in different industries is a smart move. It provides a safety net in case one business faces challenges or struggles.

Your story is enough to teach you a valuable lesson so you don't repeat the same mistake the next time. You probably can't save money when you have money, and I've experienced the same thing. It's all because earning money feels so easy. But when you earn money in a slightly more difficult way, you will be able to save and refrain from buying something that has no value.

Yes, what you need is the next chance and fix what went wrong the previous time. Maybe your current condition is not the best, but you will find that you will get better as time goes by. Rest assured, your first mistake that you regret will be a lesson that will make you better.

Usually people who have run out of money will have greater enthusiasm to make money. And that will be a better reflection of your economy than before. Keep your enthusiasm and don't give up on circumstances.

This is the lesson, trust no one and don't put any hope to anyone including your best friend or girlfriend/boyfriend.

I think I don't have to give any advice because it's full of motivation and use your common sense, but if you're want to get rich you must get a better job, spend less and always try to become productive by learn a new thing especially a skill that could help you to get a high paying job.

Never spend money because of someone.

Hope things get better for you. Honestly, it is hard for me to comment on your situation since the suggestions seem quite obvious at first glance that it might sound offensive. If you currently lack monthly income, why don't you try to open a service thread to make websites, etc? Or look for a part-time job near your area. For your financial management, I don't think the mindset you had is right. You need to manage money, not always spend it. Luckily you seem to have realized it already.

If you're asking how to save your money, I can only share how I did it. Personally, I will calculate how much monthly spending that I need to pay. I would avoid buying things through credit or lending money to others unless I'm sure I can pay the next 6 months without any problem. I'd allocate most of my money to saving/investment, and avoid buying luxury/unnecessary things. I think it is a matter of habit too. Learning to cook for example is one of the easiest ways to save money.

I am a young man who is not married. I have made some mistakes in how I use money and the resources I obtain. So, I have come to share this problem with everyone in the hope of finding help and changing the way I misuse money. I have a psychological memory from my upbringing that money is earned and should be spent as long as you keep earning. I see money as something that needs to be spent. If I see something I like or desire, I buy it without minding the cost as long as I really like it. Yep. Many years of self-employment with varying monthly income were like a blessing to me since I started designing and building websites. This little money made me a bit proud of myself and where I've come. I made a lot of friends, and whenever they asked me for anything, if I had the money in my possession, I'd disburse it to them. I was happy to receive praise that I was the best friend a person could ever have. I won't forget when I started going to clubs and spending money on luxurious clothes and booking rides from one city to another.

All of a sudden, everything changed. I lost one of my most loyal clients due to a car accident. I started getting fewer job opportunities. My monthly earnings were so low that I could hardly afford anything. All the friends I had left me, with only a few remaining. That's when I realized that I could do better. It's been over five months now, and things are still not completely okay for me. But I want to change and plan for myself.

The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.