Topic: Having a problem a Personal Finance? - page 9. (Read 1340 times)

I think that spending too much is sometimes unavoidable, especially if the price of goods suddenly increases due to the problem of inflation. Just like here in the country where it is located, the price of rice suddenly increased at the same time as the price of gasoline, so that means the budget is broken immediately; almost everything has increased.

Even for me, I still really think that I need to read more books that can help me in terms of personal finance. Maybe none of us here are perfect people who can spend money without causing problems.

We all go through financial difficulties in our personnel and family lives that are challenging, and require careful planning to overcome them. The pursuit of earning ample resources to ensure a comfortable life for you and your family, demands significant efforts. However, once you succeed in achieving level of financial stability, the task of preserving it can prove even more challenging.

In summary, it necessitate wise investment decisions with careful planning, that not only yield a substantial passive income but also facilitate growth in value. By doing so, it is possible to uphold consistent state of financial stability. i

We need skills and working smartly right now to earn more money or have another source of income; one job is not enough right now. That is really how hard life is right now. Just imagine that your salary right now is doubled, unlike before, but still you are having a hard time budge it. Unlike before, when you had a low salary but were still able to manage because it was cheap, foods were affordable, and right now I can't imagine that it is more expensive to cook at our house than buying a ready-cooked meal.

And that's the point, to be honest, it is the difference that time brings. People should understand that most of those books were made for situations known for the time they were created, and the standings and development of the economy for the past years have definitely caused various changes that should be taken into account. Hence, some of the things written in the books are not applicable anymore. Hence, changes and revisions should be made.

That's why I never wanted to take any courses to get rich or manage finances. I wonder if those so-called experts, financial advisors have experienced what they are teaching us, or are they just imagining to teach us? They get rich by teaching us, but they don't apply it or have any experience with it. They get rich by writing books and selling them to us, while we still believe that if we do what the books say we will become rich. I wonder here, has anyone become rich by reading books on how to get rich?

I agree that they aren't applicable right now since the economic situation right now is way different than before and quite hard to deal with compared to the previous economic situation. All of us often experience financial hardships during this inflation crisis but what is important is we know how to deal wisely with each situation. No book could help us if we don't grind harder during this crisis. If we were working hard before, we have to double or triple our hustle this time.
Always look for better opportunities to earn and never stop if you aren't saving and investing. Being contented these days won't practically bring us the financial freedom that we want.

Most of those books are made like years ago, so some of the advices are not applicable to current situation of the economy especially the inflation. It would just give you a grief information for you to manage your funds than just impulsively spend it which can be a bad thing when an emergency happens cause you don't have any savings. Of course, if you follow the step it doesn't meant it will guarantee you financial freedom since as you said our lives are completely unpredictable. Plus our income or salary might not meet up the expectation from the given book that you can even follow it. But for sure it has a good impact to readers as they can adapt a good thinking financially once they can already apply it to their budget. Cause these tips can easily done by a middle class to upper than a lower class people due to they are having a hard time to find a money to provide their needs.

Well those authors in the field of business are having or releasing their books upon being known by more people for a reason that they have succeeded. Not all authors, but some really written their experiences along the way before being in such place at the present. They'd have time to write simply because they  are already successful with their lives and they no longer work for money. They would have enough time to construct and convey a message to their readers but with regards to their intention, only authors themselves would know whether they are aiming to inspire  or to just creating another business opportunity.

I agree with you. Our lives are completely unpredictable. I wonder, do the authors of the books themselves live according to the advice they give? Personally, I doubt it. If you are a serious businessman, do you have time to write books? I doubt it. And if you have time to write books, then maybe this person only has time to write books (i.e., infotsygan)?

Reading a book, being financially literate, surfing the forum or watching videos will only give you long-term gains. If you don't have capital, knowing how to invest will not do you any good.
The economic crisis the world is in is obvious. If your salary isn't very good then you are trying to save the day. It's hard to set aside money to invest when daily expenses are so high.
Even if you lower your standard of living and don't spend luxuries, if your salary is low, you still don't have many options. Even if you want to spend a little money, you still have to spend a lot of money every day because of rising prices.
Although your suggestions may seem good, they don't have much validity in practice in real life.

Being responsible and disciplined is a basic need for someone who wants to solve their financial problems, to get out of the economic crush one has to think ahead and the setting must also be changed. If someone doesn't have money to start a business, then he can work part-time at someone else's place first and collect as much money as possible as capital when we are ready to build our own business. This happens in my environment and many teenagers who have graduated from high school prefer to seek experience in other people's places and they spend an average of 3 to 4 years learning to grow a business while making money.

This trend has continued until now and many of them have successfully created their own business independently, although they have had to go through a long process to reach a satisfactory end. Understanding as a person in my environment is very objective and for them continuing to study will not provide opportunities for work and vice versa it is the businessman who always employs people.

Reading books is good, but we are more familiar with practical ways of dealing with financial problems and books only provide illustrative references and not all places can apply the same method as in books. Reading books to hone knowledge is important because we will include several references as knowledge and it is much more appropriate if we have the opportunity to practice it directly.

I remember some of the words that were often said by previous people, that associating with good people will make us better, the reason is because we are in an environment that always thinks positively. Associating with people like this can encourage us to make changes and we will find their habits in doing anything, including how they increase the ability to achieve financial freedom or in other words increase finance for the better.

Which is why it is really that always recommended that you should really be finding out methods or ways for you to increase out your income which it isnt really that limited to the money that we are getting from our

dayjob which does simply means that getting more in via other investment or businesses on which it could really make us do able to earn more which you would really be able to fight inflation on.
This is what we should really be having in mind so that we would  really be able to survive in terms of inflation and other economic problems which would be resulting into that high increase of daily needs and necessities. If you arent that mindful then pretty sure you would really be able to felt that problem later on on upcoming years.

Having budget or having plans on how you do spend up money then it would be always be that recommended that you should really be having that planning. Spend on something which is important
and relevant and dont make yourself splurging on buying because cash or funds we do have isnt unlimited.  

inspiration alone is not enough. I think this is needed when we have started to try, like we are trying and it doesn't match the results we expect. it's a great condition to see inspirational videos. some inspirational videos actually make someone addicted, in the end they only hear how they get motivated without any real action they can make as a springboard to change their financial fate.

I think one of the biggest mistakes people are making is to forget to adjust their budget according to inflation. They get below inflation increases every year and then they keep on spending at the same rate.

They also do not make provision for inflation in their savings.. so they draw too much from their savings and that quickly reduce those savings and it eats into their capital. (Always try to invest into something that gives you more than inflation) 

When experiencing personal financial problems, I think we really have to think hard about how our finances remain stable. Because finance is so important to our lives. without money of course it's so difficult to buy milk, even if it's just to eat we still need money. therefore do not easily wasteful for something that is not too important.

Most of the problems that are mentioned here are personal, if one cannot control himself then it is not possible to change these problems like wasting money later on. In this case I wouldn't say all three of the suggestions you gave are bad, but I think it would be better to see a financial advisor here. Since these things are very psychologically working, it would be better to change these things accordingly.

The cycle of your friends influence the decision you make in life, if you're hanging around losers or poor individuals, you'll be the next one and it doesn't matter if you're rich because you'll to start taking their kind of decision and that'll lead you to poverty. Hanging around great minds is the best thing you can do for yourself because you'll learn from how they handle life issue and make investment that gives them riches. Also they'll lead you to better opportunities in life.

This is the reason why wealthy individuals have a club that they meet and hang around, they share business ideas in this gathering and make decisions that'll keep giving them more wealth, they invest in each others businesses and as they make money they do it together.

Indeed, reading books from some angle can be therapeutic for others; that's the truth. It could also give knowledge to everyone who will read it that has a lot of lessons we can get from it, like Robert Kiyosaki, John Maxwell, and more that are related to financial aspects.

Now, here in the forum, it may give some help, but this platform is more focused on giving information related to Bitcoin, cryptocurrency, trading, the economy, or something like that. But there are some communities that create a discussion regarding a financial issue, but not a pure one.

Well that's right, it's better when we read a little bit of some of the books but it enters the mind and we can apply it to ourselves, rather than having to read all the books but in the end it makes us confused and don't know which one to follow or apply according to what we need. Well actually now everything is easy, everything we need or need is almost available throughout social media, and it only remains that we want to do it and also apply it. Utilizing something that comes to us will be better than just sitting still without doing anything. On the other hand, it is not uncommon for us to have many desires but not take any action to improve the situation. Everyone has the same opportunities but only some of them are serious about utilizing them.

Through books and videos is where people have shared their experiences, grass to grace stories and rags to riches stories. If anybody who is struggling with their personal finances follows the principles, precepts and guides detailed by the authors, they are bound to have an improvement in their personal finances.

You won't get any real substance about personal finance on the forum. You may get one or two insights but nothing much.

Another practical tips is to personal finance is to stop hanging around broke people. They'll influence you and your outlook on life. Rich people on the other hand, have a different perspective when it comes to how to see life. And I will sum it up in one word, possibility. For them, anything is possible. And it not because of the amount of money in their bank account but a mindset.