Topic: Having a problem a Personal Finance? - page 6. (Read 1340 times)

I totally agree with all the points you mentioned. Because in the point you mentioned, it leads to learning in three ways. Namely from reading, interacting and viewing videos. You could say this method is very up-to-date and I also often look for motivation or strategies related to how to advance financially using these three methods. But here I will also add some important things about how to make your finances more organized.

What I know and have experienced so far, the essence of success in financial terms, is based on several factors. Maybe many people already know all of these factors. Because actually to achieve success is very simple materially and very difficult when done. Like the example

• Financial management (the essence of this point is that you have to know which ones you need and which ones you want. Don't let the money go out by buying goods or other things, but it's not very useful. And besides that, recording income and recording expenses must also be done. To make finances more organized).

• Continue to look for opportunities with the money we have (This point explains how important it is for us to be able to continue to innovate so that we can continue to develop the assets we have to increase. That is for example by creating a business and starting to invest. Because if you only save, that's definitely not going to grow rapidly).

• And finally, to be able to motivate ourselves we must have a target. Because someone without goals or targets, must have very little enthusiasm and tend to be lazy. So having a goal or target is very necessary, when you want to change a living condition, which is mainly about finances.

We are indeed responsible for our own financial situations as it is our decisions and actions that put us where we are. It is also indeed natural for human beings, as natural social creatures, to seek opinions from a community that we belong to or can generally relate to. However, applying the responsibility we hold for our situations, it is vital to ensure that we are the ones to make the final say on what we should do and should settle with amongst the opinions and pieces of advice we have gathered. Moreover, it is best to remember that trial and error is a must, as not all of our actions will have good outcomes, but we can always find a way to turn negative results into opportunities.

In conclusion, asking for advice and opinions, as well as seeking others' knowledge are good ways to have options that will lead us to a path that we are ultimately responsible for. Remember that every decision is made from various factors that influences us, and it is up to us to make good use of them.

well personal finance means more generalized problem whereas here is all about cryptocurrencies though principle is the same, its more or less still quite different.
personal finance is all tied tightly with how good are we at controlling ourself and keep striving to increase the income, which can be obtained through the means of earning through cryptocurrency like investing or just having more jobs.
in this case, financial literature and youtube videos in regards of financial education is also good way to learn since the knowledge is usually more generalized but thats just from my standpoint.
I think its also depends on the person themselves. but at least by having some knowledge and theories we'll get more refined way to decide on our own personal financial.

Not everyone may find it feasible to implement all the suggestions provided by friends here. However, it's important to bear in mind that each individual bears the responsibility for their financial circumstances. Every person possesses a survival instinct and is bound to seek input from others' perspectives. Absorbing a multitude of advice can indeed be perplexing, yet a prudent person will sift through these recommendations to advance into the trial and error phase.

Human beings are social creatures, and the notion of solitary existence eludes us. Navigating life becomes considerably smoother when in the company of fellow humans.

Getting financial advice is sometimes necessary for some people. But for some others, there are those who are already good at managing finances without having to get financial advice from anyone. But the most important thing in this case is to maintain self-discipline in making a mature financial plan and also in carrying out the financial planning itself. Because sometimes there are many people who are good at financial accounting. He formulates and records every financial inflow and outflow that he has. In fact he made a plan that is also very good. It's just that sometimes the most common obstacle faced by everyone is that it is not easy to carry out every financial plan that has been made. This relates to how to refrain from buying something that is not really needed. This happens a lot to young people who still have a strong desire to follow fashion trends in their social environment. So they tend to buy things that can make them look stylish in front of their friends. and well behavior like this is difficult to change from someone. But as long as he can still set aside money to save or invest and as long as he still has an emergency fund saved, this is not a problem. It's just that they might be a little slow in having their own financial improvement.

Always set first your priorities and on the time that everything is piled up well and have done accordingly then this is the time that you would consider on buying those other things or simply with those wants that you do have in mind. People do usually commit out mistakes on the time that they are really that spending that much when it comes to these things on which its a must thing that to be avoided if you do have plans on saving up for the future or for savings for emergencies.It is really just that right that you should really be that mindful about your spending and dont think or having the behavior of one day millionaire because if you have done this then
for sure you would be suffering from financial problems later on on the time that you do see your money had already deplete out. This is why it would really be that important that you should really be that mindful
and be wise in regarding on your spending and budget which dont really make use of the funds which is more that on what you do earn or simply with your income. You should really be just that fine
if you are really that sensible in regarding with  your spending.

The most important thing is to avoid unnecessary expenses. People need to consider whether they really need it before they spend. If they make it a habit, they will see the benefits. As you said, those who cannot create their own plans should get help. This is very popular nowadays. Professional help can save you from many negative situations.

We must constantly improve ourselves in personal finance. Just as our needs never end, neither should our efforts to improve ourselves.

You simply need to live within your means. Because most people that are having personal problem with their finance are spending more than what they're earning.

Before spending huge amounts, you need to think of it so many times if you really need it. If you don't need it, much better not to avail it and if it is just categorized as your wants and not your needs. In these times, when almost everything is soaring, we have to be the wisest person in the world and be critical and active with our spending habits.

Create a budget to track income and expenses. Prioritise essential costs like housing, food & bills. Save for emergencies & future goals. Cut unnecessary expenses & avoid impulse buying. If debts are overwhelming, try consolidating them or seeking professional help. Remember it's okay to ask for financial advice.

We have seen too much discussion of financial issues to date and in the forums there have also been quite a few topics discussing these issues before. Financial problems are still a kind of mystery to some people because of various conditions that affect and in addition to that the economic conditions of a country or the world are not in a good position. There are many theories, ways to solve financial problems or advice to increase sources of income that we read in books and watch in several videos. My question is whether all of that can be applied equally to all people?

I made a little study on this issue after the impact of the recession occurred which resulted in people not being able to leave their homes during Covid-19 and from several sources that I got there were no opportunities for people to make money. Maybe if we discuss there are many pages that we need to write in detail the existing problems, but I try to summarize at the level of someone's ability to make money, then we will get the solution if people can make money by working anywhere or with whatever method they can do. It's that simple but unfortunately difficult to implement in practice?

Well, partially, you are right, but one of the proven ways to become financially independent is through having multiple streams of income.

Having just one income source is very bad because the chances that your expenses will be way more than the profit you are generating from that source is very high, so this is why we need to have multiple streams of income, which in turn, means more profit for us to cater for all our expenses,  but then again, having multiple streams of income is not a reason to go spending on useless things, just as you have said, we still have to monitor our expenses and make sure only the important things are attended to based on their priority..

And this is not to say that it is bad to get away with the family from time to time, what then, it's very important to make proper preparation for such expenditures, so that it won't lead to financial burden on us.

Financial problems can be overcome by managing financial management, need to balance expenses with income and set aside desires that can absorb excessive spending. managing finances needs to be done to avoid financial problems, you must be able to control yourself to buy something that can drain larger expenses in order to achieve financial goals. You have to find a solution to make progress in business by increasing skills in the business you are starting. Find out where the mistake lies, then you can fix it slowly in order to achieve the goal of getting out of financial problems.

for point (a), we can increase our knowledge about how to develop the money we have, such as investing, or choosing real estate, to increase the value of the money we have in a certain time. Reading books is important to get this information so you can be free from financial problems.
For point (b) this only applies to people who focus on crypto investment, especially on new and old projects. quite a lot of information about new investments from altcoins, as well as places to trade, staking and others. it will be useful if you really want to face your financial problems by making use of crypto.
And for the last one, namely point (c), getting inspiration from people who have been successful can raise our spirits, and we can get strategies, experiences, important things from these people. This point is the point I do most often.
However, if we face financial problems, then we need to deal with them with action. even with good information, without action, it is impossible to do. try to learn while doing it, because by doing it, if you don't succeed, at least you will gain experience and improve the skills you have in dealing with financial problems.

Maybe OP means the other discussion here that deals with financial matters. Although most of the things that are discussed here on the platform are not purely financial, Bitcoin and crypto information are usually discussed here. Maybe that's why there are only a few, but it's still better to read books that are really related to finance in terms of personal behavior. And it's true that I also agree with other content on YouTube that is also related to finance.

Well, I guess for us not to miss the spectacular comments and tips is the reason why Op asked us to spend, that is to hang out frequently on this forum.

I agree with you completely though, even though a lot can be learnt on this forum, I don't think personal finance is one of those, like for example, in terms of cryptocurrency, like investing and trading, gambling and other cryptocurrency related stuffs, this forum can indeed be a good place to learn about those, but when it comes to personal finance, how to become better at spending and saving and everything related,  there are better places to look out for such, even though I don't have a list at the moment.

I agree with what you say. talk about risk, the risk of being afraid for everyone who wants to start a business, but if we never take real action then everything we learn will be in vain. And I quote the words of a Muslim leader (Ali Bin Abi Talib R.A) "It's not the difficulties that make us afraid, but the fear that makes us difficult". Therefore, we don't just stay silent and do nothing, but keep moving forward and keep trying everything we think and plan, there is always a risk in everything. But if you don't take that risk, there will be no progress in you.
And be a player in life, ignore everything they say and the insults they accuse and the funny thing is they always buy tickets to watch the game.

There are financial conditions you can find yourself in that's doesn't need you reading books on personal finance management or watching of inspirational videos. They are beyond the normal circumstance of those procedures to solving it, and these are problems that needs you to go the extra miles in breaking it, more like advancing to the supernatural level to get solutions to the root cause.

Moving forward, some persons out of the feeling of comfort they careless of doing the uncomfortable, their comfortable zone they find themselves with every little of what they get they are comfortable with it and that mentality has killed their foresight to see beyond their comfortable zone as their cage holding them from achieving greater financial freedom and without they clear picture they've to just settle for the less. In otherwords, they are frightened by risk taken feat or exploit and see no need in even giving a try.

Just generally take every post, opinion, and advice with a grain of salt. It is up to each of us on how much we are going to take each of those things into consideration and apply it to our daily life and decisions. You have to be able to analyze it on your own and see for yourself if it will be a good thing to follow their opinions and suggestions or not. Essentially, it is just basically the common application we do in surfing the internet, be open-minded but also smart.

I think misconception to this view comes in with one having to view bitcoin for an asset rather than a currency as well. Yeah, with the used case been a rarely occurring event and the few who try it keh en opportune only proceeds based on marking the event rather than an everyday transacting and a few who transacts because, it’s an only option for the at the time.

Still, we have to understand that the digitalized currency is an undeniable aspect to finance in our current times and learning management of it as well would aid both your approach to managing fiat, cryptocurrency and how you handle your asset or make investment choices.

The relevance of book to the study is there but then, there exist a relativism between cryptocurrency and finance or finance management.

This is why reading up on a forum or community like this would be always that a good thing or idea on which you could really be able to make yourself be aware and wary on how things should really be dealt with.
Having the awareness and knowledge which despite on being a first timer or a noob then you do have at least the idea on how things should really be taken or able to engage on just because you had able to read up

others life experiences on things on which this could really be an advantage on your part just because you are really that have that kind of awareness on things that should be taken or act accordingly basing up on the conditions or situation that you are into. Somehow, there are people who do easily forgot or doesnt really care on what they had read up earlier but rather they would be sticking into their own principles or things that they do believe or having in mind on that particular moment or situation.

You wont really be able to experience hardship if you are really that that wary about on whats good and whats bad. Always set those limitations and border line on how much you should really be able to spend
on a particular thing and you should be able to distinguish between sufficient or already that lavish or becoming that impulsive already.