Topic: Habits that can lead to your financial failure in 2024 (Read 904 times)

There's nothing wrong with watching financial advice from an influencer on YouTube or any social media as long as the advice they share can make you enthusiastic about managing your finances well

Many people fail to achieve financial freedom because they live very wastefully and don't have a good direction in managing money, they even seem to live a hedonistic life without thinking about how to get more money next. Even though it's not an easy matter, learning to manage money well is one thing what must be done in this era

I think the points above cover everything you need to know as a basis for avoiding financial failure, the rest depends on how someone takes wisdom from the points above. On the other hand, personally, I will sharpen my calculations in taking advantage of existing opportunities, so that I am lucky when taking action. To be honest, it is very difficult to be consistent, patient and persistent and focused on the goal of building stable finances, especially in the current era where everything is very dependent on social media. It is true that the encouragement of social media interactions makes us often neglect to continue learning, so deciding to leave it is the right decision.

Apart from that, it must be acknowledged that hanging out with more experienced people can increase our insight, discussing with them and absorbing knowledge from them can cut down on study time. In any business, learning from other people experiences is one way to minimize failure, especially if we are involved and investing in the world of Crypto. Of course everything will go as expected if we keep going, the most important thing is to keep learning.

Before you get elevated in life it will surely cost you and some people are not willing to pay some price to increase financially in life. Some people just believe they must grow to achieve upliftment without spending anything.  Their are lot of skills to learn out there that will just cost little money but some people find it so difficult to go for it because it will cost money.  It is only ignorance that one can get for free , as far as you want to get something of value it must surely cost you .

People who have acquire good financial success,  they didn't just get it by folding their hand doing nothing.  They worked for it , which cost them to even lose money.  

Staying in your comfort zone is the foundation upon which financial problem start allot of people don't like leaving where they are currently managing for bigger opportunities as such they become tied down to their merger wages

I have met many successful and unsuccessful people in my life, I asked them the reason for their success and failure. I would like to share the one answer that almost everyone gave. People who set a goal in life and work hard to achieve that goal never fail. This is the answer I often hear from both successful and unsuccessful people.

And it is my personal experience that those who set their goals right from school life and never give up in the face of any failures to achieve them are successful in life And those people never succeed who after one failure give up their goal and start doing something else when they fail they start looking for something else I have often seen these people fail in life.

And when we have nothing to do, we spend our precious time on YouTube and Facebook scrolling.

I might add a few things that might also be obstacles for someone to become more advanced in this year, namely 2024 and the following years, namely.
- Those who are impatient and always hasty in making decisions
- Those who do not want to deepen their insight and feel that they are sufficient with the insight they currently have.
- Those who don't like building relationships, even though it is important in business development.

And everyone here can add the rest, and it seems like many important points have also been written by other users here.

Yes, even though their method is quite good in terms of collecting money by working hard, what is wrong here is that the purpose of them collecting the money is to buy something that is actually not very useful for them, as you said, buying branded goods and I'm sure they are typical people. who are more concerned with lifestyle than their future so their way of thinking is short, but I think in terms of their efforts they should be appreciated and maybe we just need to give them advice and input about better allocating the money in savings for the future or like saving to build a house for the benefit of the family after they get married, and another thing is that if they buy something with money from their own hard work then maybe we can't blame them because after all it is the result of their hard work but maybe the right one is us direct them to something that is actually more important than buying something that is not beneficial in the long term.

The habits that lead to your financial failure. *1) COMPROMISING (*2)LOSS OF RELEVANCE (*3) REPLACE RESPECT WITH DETEST AND HATRED (*4)ETERNAL REGRET (*5) ATTITUDE (*6) NOT KEEPING THE RIGHT COMPANY.  first what's compromising, compromising can mean settling for something lower than what you want. If you're compromising it means you're lower your standard, second compromise is an attitude of lowering a standard or belief system in the world that smells or potential danger. Compromising will bring disgrace and embarrassment and failure to your financial life. *2( loss of relevant causes people to lose their relevant and significant.*3( replace respect with detest and hatred, same people who had been holding you in high esteem and respect suddenly begin gossip about you and despise anything you've to say.

*4) eternal regret,  a person who gives himself to compromise will have regrets in the future and eternally. If you're giving to this you become like an elephant missing in the bush_no one will come looking for you. *5) attitude, we shall look at attitude in a different forms, but but suffice it to say now that attitude is the true reflection of yourself. Attitude is who you're, nothing brings a person up or down on life other then attitude. Attitude affects every aspect of your life, if there is no change on the inside and someone gives you a large amount of money, you'll still end up poor. If  you won't change within, even if you are enrolled in Harvard University, you'll still fail. If there is no change on the inside and you have a lucrative business or job and investment you'll not succeed, because it is not just your environment, it's your attitude. If you don't have a self-esteem then the habit that can lead to your financial failure it's waiting.

  Spending extravagantly is one of the great habit that can lead to financial failures. Some one needs to be wise enough and extra careful while spending. like you must be very careful when buying items so you don't buy unnecessary things. Or some time the items might also be necessary but their other ones that are more important than the one in front of you, in that case, you need to go for the most important one.
  One should learn the knowledge of how scale of preference works, and we should try and apply it in our day to day activities for our own good. We should try and know the difference between our wants and needs.


  This year 2024 comes with a lot of economic challenges. one of them is the issue of inflation.  So in these kind of situation, the best thing that one need to do to make things easier is by doing what we call cut and fill. That's, you look at the item you want to buy and choose the one you need at that particular time. make sure you don't just finish it up the way you use to do it before, but you can divide it into some parts like two. three or four as the situation may warrant. Then you discipline yourself by taking some parts like 2/3,  2/4, or 3/4 as the situation may warrant, just make sure you remain some parts of it to fill in or to add it to the one that you are going to buy in the future.
    By so doing, you also don't forget to be keeping some money that you can use to invest in other businesses that would bring in income.  But If one didn't have plan on doing anything, he or she is definitely and automatically planning to fail.

Another financial failure habit that many people do is viewing everything negatively. To make finances better in 2024, we have to look at the negative side in positive conditions. So that we become optimistic humans who are always willing to try and learn from last year's mistakes.

Because usually people who think negatively will find it difficult to try new things because what they think is the worst risk so they don't dare to make a decision. so they don't dare to move forward and things like this are what prevent you from becoming a financially free person in the future. This is also true when looking at cryptocurrencies, especially since this year and next year are great times to get in and continue buying cryptocurrencies that we believe have potential and maintain it.

Another thing that makes us fail financially is that we don't have a plan for the future, in other words you waste many opportunities to become financially free people. Because along with developments in time and technology, lifeline patterns must be planned well in advance to face uncertain economic situations.

Procrastination is probably the biggest thing, I just watched a YouTube video that tells me a lot about things like social media scrolling that would probably take a lot of hours in our life to the point where it is a huge hindrance to us in order to complete our task and goal. I just realized it back then that if I start to stop this kind of thing, that is limiting me from putting up my 100% into something I would probably make a huge amount of money right now, with the technology era right now we can already see a lot of people getting millions in just a short amount of time, with the help of technology they could easily do it if they just put there 100% on it.

I have a full-time job already but still I could probably do a side hustle as well online or sell something online in order to make a small profit, or make YouTube videos. if I'm going to think about it I can do that, but there was a lot of time wasted because of procrastination, in my opinion, it is the number one thing that is stopping us in reaching our goals, so we need to overcome that, especially on social media because that is probably where a lot of people is already imprisoned by there own phone, wasted so much time If I'm just going to think on what I can do on that 2hours and 24 minutes there where so much that could help me make a lot of money.

This failure is the key to our main teacher. By being guided by it, we continue to move forward, including expenses and income that are not balanced with income. Adjustments are needed to be made. We have to make financial decisions. Indeed, it is not easy. At least we keep trying until we succeed so as not to cause  It is important to Cultivating healthy finances to avoid failure and wasting time can be felt in our daily lives, such as thinking all the time but without doing it, our thoughts and forth as if it is difficult to determine what to do, which causes us to fall and find it difficult to get up.

actually it all depends on their own attitudes and thoughts, because not everyone has the same thoughts about this, and what you say is true, there is no harm in buying branded goods that have a high price value, if they buy it with the money they have. earn their own money in the sense that they are already working and have an income so that's not too much of a problem, because that's their own right and of course I think everyone has the idea of being better and maybe they also have the desire to save but it's still being postponed because there are still desires that must be realized at this time. by buying the things we want and using the money we earn ourselves, it's not a problem because it's a way to pamper ourselves. In my opinion, pampering yourself is something you need to do as a sign of appreciating yourself.

and on the other side there are also those who don't care about other things because they focus on what they want and don't listen to input and advice from other people. and this is what happens a lot, where they want to be stylish but don't have the capital, in fact some of them force their parents to buy them what they want even though from a financial perspective they are unstable, and this is something that must be addressed, where they must be aware and looking at their family's financial situation, don't push too much unnecessarily because that will make things difficult for us in the future.

but I can't judge them negatively if they manage their finances well even though their desire is to buy branded goods but they have to set financial limits so they don't waste money, but you have to know that they are motivated to work hard because they want to have the dream item they have long hoped to get. buy from your own income without expecting financial help from parents, so don't forbid them from buying branded goods but advise them to save their income and they should save for future needs.

That's right, many of them buy things they want but are not really that important, whereas with those who have a poor financial situation of course it's not a good thing, and I don't think it's strange that many young people still prioritize what they want over what they need, because this is a factor of the encouragement of social media that they see making them obsessed with being able to have high-value luxury goods and the goal is like you said to be recognized by many people. It's not a problem if they already have financial freedom,  but what makes me want to laugh is that those who are not working or even still sitting in school, this is the problem of many young people in my neighborhood.

I agree with you, if many of them only spend their salary to be stylish by buying branded and high-value goods this is a very bad lifestyle, because in my opinion this can make them difficult later if they continue like this without thinking about their future.

This is a big problem and I see it everyday kids these days are so easily influenced and they are persuaded by their peers to buy this and that of course part of growing up is wanting to have some kind of feeling of belongingness that is why kids want to be in the in they want the latest, the trendiest things which is why kids these days make a lot of poor financial decisions