Habits that can lead to your financial failure in 2024 - page 6.

fikayo

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Quote from: Zlantann on January 03, 2024, 06:52:31 AM

Quote from: fikayo on January 03, 2024, 06:18:42 AM

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Waste of financial and other resources: Some people earn so much but they end up wasting in things that will not generate financial returns. Waste of financial resources has made people poorer than lack of employment. Some people spend money on new gadgets not because they need them but because they just want to be in a social class of people who have the latest gadgets. I don't see any reason why an average citizen who is struggling to make ends meet will be spending money on the latest phone, clothing or other accessories. Some people also waste money on cars or big houses when it is clear that they don't need them. In my country, it's common to see young boys buying flashy cars when they don't even require them because public transport is economical. What will a bachelor be doing in a two-bedroom flat apartment, this behaviour is popular in my location. Many of these youths prefer to waste their resources on liabilities, rather than investing.

Addictions: There is a need to engage in all activities moderately. Addiction to any behaviour could hinder financial prosperity. People who are addicted to drugs, gambling, food, s3x, etc, might find it difficult to plan and make sound financial decisions. Many of them will end this year poorer because of credits and debt. With the high rate of drug addiction in my location, many people spend most of their income on hard drugs. The popularity of online and offline gambling has caused some gamblers to develop some disorders.

I fully agree to your second point about addiction. It can really ruin one life if care is taken. Evething one's do, must be done moderately even eating too much food could cause stomach upset.
That's why I pity must young generation nowadays bcos must of them are extremely addicted to drugs, s3x and gambling

EluguHcman

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Quote from: fikayo on January 03, 2024, 06:18:42 AM

You have conquer 2023 with it's many challenges to to your financial status.

Here comes 2024, a year with a lot of excellent promises.
Your financial success this year is of outmost important particularly since we a re approaching the bull period in the crypto space.

I would take this for another episode of the years resolutions because there had been lot of expectations that I was not able to meet at the year 2023 which I want to have my accumulated values of Bitcoins as a point of contact because, my intentions to reach a specific Bitcoin value to the rate of the USSD has been a weigh down to me because things hasn't been going well with me but at this 2024, there is already a promising phase right from the day one of this year that I have so sudden purchased with the best value as I could from the gifted funds I received from loved ones as a gift.

I purchased more of the Bitcoin this year at the rate of $42K and I don't regret it because I am hoping on the activation approval or the ETF so I could be a pertaker or the bull run or a skyrocketing as the case may better pave me with some pieces of exciting hopes in time to o make profits and I hodl and accumulate more of Bitcoins in this year 2024 .

Captain Corporate

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Fear of failure is something that prevents a lot of people, me included. Starting a business, or risking a capital is not an easy thing and it could always lead to you ending up being poorer, but also it could end up being better for you as well. Many people who got rich did so by taking a brave step, I agree with that, and I would never be like those people without a doubt however, many people who bankrupted also did so by taking a brave step as well and that was the key factor there. I rather not bankrupt and not take that risk, if it means I could also just not end up being super rich. I am fine with my salary, sure I am not rich, but I am not poor, so I could just live a normal life for sure. Fear of failure could be a good thing, do not write that off.

Zoomic

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If there's one bad altitude that hinders growth to be dropped, then its procrastination. This year is still very fresh to make fresh plans and stick to them inorder to avoid regrets later. Let's just look back to last year and reflect on the business plans we had in our head but never achieved them because of fear of failure.
The projects we are yet to invest in because we think it's not time yet.
All the silly excuses we made just to delay making that one drastic move.
The amazing fact is, nothing changed! Our financial statuses didn't improve after all the procrastination. Our motto this year should be "Start first". Forget about all the distractions and start making your life productive. If we continue to postpone things that can actually be done now, we do not know when we might miss great opportunities. Avoid regrets this year!

Fortify

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Quote from: fikayo on January 03, 2024, 06:18:42 AM

You have conquer 2023 with it's many challenges to to your financial status.

Here comes 2024, a year with a lot of excellent promises.
Your financial success this year is of outmost important particularly since we a re approaching the bull period in the crypto space.

The habit listed below may hider your financial growth this year
,👉Fear of leaving your comfort zone
👉Fear of failure
👉Looking for easy means to gather wealth
👉Wasting your precious time on things that are not necessary
👉Self indiscipline
👉Procrastination

You can add your point so that others can learn

Procrastination is a big one, you might have a million great ideas but until you actually put them into action and test them - you'll have no idea how successful they will actually be. The best thing is, as long as you do not go overboard, you can spend your whole life testing different things and eventually you might just stumble across something that will set you up forever. That's how most entrepreneurs and business minded people work, they see failure as a great thing - it's one idea that they tweaked in many different ways and realized that it was not going to work, then they moved on to the next one, rinse and repeat. The best will find more than one brilliant idea and grow multiple revenue streams.

ZAINmalik75

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Quote from: fikayo on January 03, 2024, 06:18:42 AM

Here comes 2024, a year with a lot of excellent promises.
Your financial success this year is of outmost important particularly since we a re approaching the bull period in the crypto space.

You can add your point so that others can learn

Here comes a new year with new resolutions, some will be completed while some will become resolutions of the upcoming year 2025. The best thing about making a resolution is you are at least giving it a thought like you are planning something to achieve while many don't even make plans.

It does not matter that much what you plan, whether it is any of the above points you have stated or something else, the main idea is, we should think about it, we should give some time to thinking about what we should gain in this year and how to improve ourselves over this 365 days.

One habits that I want to see in myself are punctuality and consistency and hardworking because these are the main things that one needs to achieve big things, many of us stops midway when they started to get feelings that they are not going to make it but those with consistency mindset never stops and they kept on restarting there minds and forcing them to do the job.

Hewlet

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Quote from: fikayo on January 03, 2024, 06:18:42 AM

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inability to managing already gathered money is a serious problem.

Some people have a steady and functional source of income but their spending habit is just so bad that year after year, they continuously experience stagnation because of poor management of resource.

If you want to grow from where you are into a new position, you must first work on managing and coping very well with your current situation if not you wouldn't be aw to manage growth when it finally comes.

Cryptomultiplier

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Quote from: fikayo on January 03, 2024, 06:18:42 AM

You have conquer 2023 with it's many challenges to to your financial status.

Here comes 2024, a year with a lot of excellent promises.
Your financial success this year is of outmost important particularly since we a re approaching the bull period in the crypto space.

The habit listed below may hider your financial growth this year
,👉Fear of leaving your comfort zone
👉Fear of failure
👉Looking for easy means to gather wealth
👉Wasting your precious time on things that are not necessary
👉Self indiscipline
👉Procrastination

You can add your point so that others can learn

Majorly, the points you have mentioned so far has a lot to do with what distracts anyone potential investor on a daily basis.
To delay immediate gratification of pleasure will help one be more financially stable than most and would help one be focused in maintaining a good DCA strategy of investment for a long time.

Another point I want to highlight is that of using loan apps or borrowing from loan sharks or friends to survive because one wants to live well by all means.
This has been the downfall of many potential wealthy men and women who think that it is an easy way to live a rich lifestyle without any investment or business.
Borrowing is one quick and almost addictive habit like gambling and smoking, which can lead one to financial failure in this 2024.

Russlenat

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Being too emotional in your investment or even in trading. If you are like that, you will never be successful with bitcoin and will only hinder financial success instead of achieving financial stability and security. Know that when you invest or trade, you should not focus on your emotions but on your plan to reach your goal. Whatever your plan, then stick to it no matter what. Investing and trading do not require emotions, but will only need knowledge and market experience to make it work and profitable.

topbitcoin

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The comfort zone... may only be reserved for people who have privilege, someone who was born into an affluent family... who when they ask for what they want, their parents will immediately grant it. I personally come from a simple family, and if I have a wish, I have to harbor it and try to make it happen without having to bother my parents. For me, it's hard to find a comfort zone. I have to keep trying to make what I dream come true. Failure is not something I am afraid of, because the most important thing is the process, not the results, because the results depend on the process we do. And it's not failure that scares me, but fear is what often makes everything fail. And for me there are no shortcuts and no easiest way to earn income, because everything is a process and struggle that we have to go through. And the easiest way to get money is to ask or beg other people. But I think I can make money without having to beg.

Rruchi man

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Quote from: fikayo on January 03, 2024, 06:18:42 AM

👉Fear of leaving your comfort zone

Comfort zone will make you feel like you are okay and do not need more. The comfort zone has killed more dreams than we can count.

Quote from: fikayo on January 03, 2024, 06:18:42 AM

👉Fear of failure

Most people who fear failure are people who still concern themselves with what other people will think about them. Due to that they never try to do anything extra because they are afraid of being mocked if they try and then fail.

When you fail, you do not start from zero, but rather at the point where you failed. So in failure, there are lessons learnt that someone who has never tried will never know.

Cookdata

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Quote from: fikayo on January 03, 2024, 06:18:42 AM

You have conquer 2023 with it's many challenges to to your financial status.

Here comes 2024, a year with a lot of excellent promises.
Your financial success this year is of outmost important particularly since we a re approaching the bull period in the crypto space.

The habit listed below may hider your financial growth this year
,👉Fear of leaving your comfort zone

A comfort zone is nothing but a trap that makes you think you have achieved everything until you start realizing that you haven't achieve anything at all. It shouldn't be confuse with peak zone, if you are successful, a time will come in your life that you don't have nothing to do but to watch and enjoy the rest of your life but been comforted when you still have a lot to achieve is what some people don't know how to avoid. I have one of my friend that was working with a mining company and he was been paid well( he could save and take care of his need) and was offered another job by another company but he refuse to go even when the pay was huge giving excuses that it's far from his city, recommended the job for another and not long he was dismissed from mining company for reasons better known to them. He later got another job but pay less than what he earned over there and the guy he recommended is doing more than him today.

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Stop borrowing over little problems, it reduce your standard. Not saying it's bad to borrow if you have a problem but stalking people over small amount of money makes you less of a person and less respected. In addition, stop hazing ladies in the name of pressure, you will go broke before you know, if you have a girlfriend, be committed and face your business or husle.

Balmain

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To experience financial success, you need to have a certain discipline and also a road map, and to realize this plan, we need to be patient, not rushing. Review the habits and try to understand where and what is missing, no one knows this but you, that's why insight is so important. A positive mindset and daily affirmations will keep you grounded. I sometimes end up procrastinating and not doing some work on time. My goal this year will be to change this habit. If you identify a bad habit and solve it, you will move on to your next task. I wish everyone a year full of financial success in 2024

zaim7413

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1. Anyone who does not want financial growth to be hampered must have the courage to leave the Comfort Zone because the comfort zone will slowly kill potential. While you still have the opportunity, like you are still young, your energy is still strong and you are still free from disease, never hesitate to take a leap for a better future. Financial growth can only be achieved by people who are persistent in trying and always use their time to do something that can bring in money.

2. Fear of failure will hinder progress in achieving success, it is very difficult to achieve financial growth if you are still surrounded by fear of failure, this type of person is because they are not confident in their own ability to develop their potential.

Gozie51

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You have listed quite a number of factors that will hinder success at anytime. I believe the most of the factors is subsumed on proper planning or budgeting both in finance and our person too. Planning is not only about money but we also need to take ourselves into consideration. You don't need to start something that you can't commit yourself into because of lack of time. If you start up something it means you have invested money into it and when you can't follow it up and allow it to go down it means you have wasted that money. Therefore, we need to avoid wastages and focus on the things that we can highly perform on which means profit will be secured.

bluebit25

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Quote from: fikayo on January 03, 2024, 06:18:42 AM

(...)
The habit listed below may hider your financial growth this year
,👉Fear of leaving your comfort zone
👉Fear of failure
👉Looking for easy means to gather wealth
👉Wasting your precious time on things that are not necessary
👉Self indiscipline
👉Procrastination

First of all, looking at these behaviors, I just want to generalize them in a negative way, and not only for 2024, but if these things still exist, everyone's lives will have to face numb results. I think we need to think more positively in life, what is the goal? Ask yourself questions, and come up with solutions, the process of learning and achieving success will be accompanied by failures, and if you remember the beginning clearly and stay steadfast with your goal will also be conquered. As 2024 begins, I know many people also have ideas about their own development plans, and I wish everyone a great experience with the plan.

kentrolla

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There are hundreds of reasons but I see more people failing because of procrastination and also believing that they can get rich quick by being lucky. People should avoid being lazy and demotivated.

If you look at all the founders and CXOs in any organisation they would always be the highly motivated hard workers with smart thinking who are very confident on their plans and have a clear plan how they are gonna operate. We fail due to the reason I have mentioned above along with poor financial planning with out much research.

dothebeats

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You forgot impulse buying. This is a hard habit to break for a lot of people with the advent of online shopping apps. They think they are getting a steal on the prices on monthly deals when in reality, they are not getting anything off of it, just another item to be left in the bin for weeks to come. This also takes up a huge chunk of people's salary unfortunately if not kept in check.

Better keep things on a budget and stick to it religiously for this year.

Kelward

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Thanks for listing some habits to avoid if we want to achieve greatness and attain a new financial height in this new year 2024, financial freedom is possible if we have the right mindset and be disciplined to follow success parts.

What I can add to your list is that we must endeavor to live bellow our means or income, if we're able to do this then it'll be hard to become broke. Living bellow our income will afford us the opportunity to save and have investments without resorting to borrowing or begging, example is that we can task ourselves to do DCA method to accumulating Bitcoin. If you're spending according to your income or above your income, it'll be very difficult to have any investments without external help and we should not put all our hope on others because they can disappoint us. Always begin a financial plan with what you have, this is why we must be very prudent in spending so we can save from our income, so any external income will be a support to our 2024 investment plan.

DeathAngel

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In 2024 there can be several habits that can lead to personal financial failure. One is overspending & living beyond your means which can result in mounting debt. Another is a lack of budgeting & financial planning leading to poor money management. Neglecting to save for emergencies or retirement can also have long term consequences. Falling into the trap of impulse buying or engaging in risky investments can lead to financial instability. Also not keeping track of expenses & failing to review & adjust financial goals regularly can hinder financial progress. It is essential to cultivate healthy financial habits to avoid personal financial failure in 2024.

Topic: Habits that can lead to your financial failure in 2024 - page 6. (Read 900 times)