Topic: Things to avoid when you earn a lot or become rich - page 7. (Read 2171 times)

I agree that if we can manage finances well and wisely then everything will go well and balanced. Because this balance is what makes them continue to grow forward, but different things with those "ordinary people" they often use money carelessly, for example, even though their income is mediocre they spend their money at the limit they have which in the end their money is always minus. It's true that we really need balance. And not just balance in managing finances but balance in every aspect i think needs balance.

I think your opinion regarding risk and income is quite correct because there are still some people who don't understand how to manage risk while these people can optimize their income. But on the one hand, such a person will also realize that he has to face greater risks with a lower level of income. Because basically these two things need to be well understood by everyone who is working in order to optimize their income by managing risks through the right steps as you said.

In my country most of them are people who managed to achieve wealth in their lives and then post it I don't know about how and what exactly their purpose is, whether it's for bragging rights or for promotional purposes so that many people or companies want to work with him or her or for something else, but usually I hear that the idea they often say is that they are nothing more than motivating other people who are in the process of struggling to keep their spirits up and prove that the process will never betray the results, and I think it is an idea and action that does make sense to raise the spirits of other people who see it. As I said above, I don't really know the actual purpose but yes, it may be true as you said that indirectly their actions can also be a way to find or open doors for new business opportunities such as building new relationships with other people to plan new businesses. For me the real risk that can happen when someone posts or brags about their wealth is that there might be some people who see it who have bad intentions such as cheating, robbing or whatever.

In real life it is not uncommon for me to see rich people who get out of luxury cars with a very simple appearance, only using sandals, shorts, plain t-shirts and carrying small bags without wearing any accessories on their bodies, this is a small example that can be concluded that even if for example you are a rich person who has a lot of money but that does not mean you have to buy various things that are not really needed, and it also indirectly tells and makes me realize that the real rich people are those who have very good financial management where they only spend their money on something that is important or needed.

I heard that those who are rich or who have high incomes in their lives only use a small portion of their income for their lives and their families, not that they are stingy, but they mostly use their money for everything that has the potential to bring greater profits in the long run such as business or whatever it is, and I think it is clear that because of that management and mindset that makes rich people richer. In conclusion, in real life or whatever it is, especially related to money, if we can manage it properly, everything will go well and be balanced.

When you have money, it's nice to relax from time to time, but it doesn't mean you have to spend it all. If you want to spend money on lifestyle, there is no way you will get tired since you will not be pleased because as you buy, you will see more things. The greatest advise is to find something else to do with your money rather than spending it extravagantly. It will be a regrettable action. Because that's when you'll know you shouldn't have wasted money. And once people have money they want people to fell their presence and some of them will even want to oppress people with their wealth.

And in the process of oppression what if you go back to been broke what is now the difference and that is why composure is very important when you have money you don't allow your self to be driven by emotion. The good man gave you a good advice because the moment you start earning you have a lot of things in your mind so the best thing is to invest early  at least their are different places that you can invest your money into. A better decision on that will be helpful. And if their is any debt pay and then invest then whe you start making money you can fund your life style.

Every person does not have the same opinion and if everyone thinks the same as you then there will be no greed and no jealousy and all the individuals will be considered the same. It is necessary that if we have lots of money then we should help those individuals who have a limited amount of money and when we have not enough money then be thankful for each and every situation because there are also lots of people who are deprived of such blessings.

Wealthy comes and goes but the real friendship and relationships once goes then never return back therefore give more time to the relationship and if your relative has not enough amount then it is our responsibility to give them some to help them and make them happy.

It is clear that the higher the income, the higher the risk, but in real life there are unique things such as low income with high risk, and vice versa.
But of all that depends on the right management, with the right management we will know the benchmarks (actions) that must be done.
The conclusion is that the relationship between income and risk does not always go hand in hand. Good management is essential to determine the right steps to optimize revenue and manage risk.

 Lots of people make such mistake of living an extravagante lifestyle when they finally stumbled on a big bag, that's very wrong. To them they'll feel like, I've been poor or broke for too long and now the world needs to see I've made it. No, that's wrong you don't live to impress anyone cause when you go broke again those people you're trying  to impress might not help you rise up again, they'll probably laugh at you or mock you for being foolish. A wise man once told me that the first thing i should think of, when i start earning is to invest my earnings into a good business or investment and that has really helped me in life, I'll always calculate before spending and it's help me to differentiate between my needs and wants. Another point i picked from the Op is paying of debt, it's very important for people to pay off debts when they've finally made money, the best thing that could happen to a man is being debt free, it saves one from unnecessary embarrassement and public disgrace.

As many fruitful trees as there are in the world when they are full of fruits their heads are low and when they are ripe they drop their fruits and distribute them to passers-by. But what would happen if gravity did not act on all those fruits?
Money has the power to change any person at any time. But if we as humans are not in control then the fall is inevitable. The human conscience should also work in favor of gravity. Money should be used in our life but if we do the opposite we will face problems.

I don't know what the lifestyle is like in your country, but in my country, poor people can hang out with rich people, but rich people will rarely work with poor people, and most rich people usually just cooperate and do business with rich people. Therefore, whether someone brags about their success or wants to prove that they have become rich has its own purpose. Some may want to assert themselves as talented people and want to set themselves as an example for others to make efforts as you said. But there are also some people who do it because they are looking for ways to expand better relationships to increase wealth.
In addition, perhaps the security situation in each country is different, and I don't see any risk in someone wanting to brag on social networks when they become rich in my country.

I think there is nothing wrong with what they do by posting their success or success on social media where there are likely to be many people who see it, because after all what is shown can motivate others or raise the spirits of others who may at that time there are people who are experiencing failure and downturn. And for me the risk that will be felt by people who show their success is nothing more than social risk, or the point is that maybe in the next few days or months there will be many people who come like asking for help such as borrowing money or wanting to ask for directions or ways to be successful like him, and for that problem I think it is not a risk, because after all the name risk is when someone does something that tends to lead to mistakes that can threaten or endanger him such as taking a decision or doing something excessively, but if not then I think posting success on social media is a common thing that many people often do.

To most, debt is a trap.  It's like being in a hole that the sides keep caving in - you have to expend effort just to keep even and even more of you want to get ahead.

In the United States, the biggest debt traps are student loans, new car loans, and credit cards.  Collectively, these will keep most people poor their entire lives. 

I feel like that is something I can't really guarantee at all, I try to avoid saying stuff that has never happened. Like right now, if you ask me would you look at people differently if you had millions and millions of dollars? Then I would say of course not, but it has never happened and maybe I would change with money? I wouldn't know, it never happened. Of course sometimes you know what will happen, like if I am thrown from a flying airplane, I know I would be screaming, parachute or not .

But, some stuff are not know and usually a little bit more detailed. I spent my whole college years saying I do not care about the diploma or the grades, because I really didn't, I went to college to learn, for business purposes, not for diploma, and it has been more than a decade since I graduated and never used my diploma for once, not even a single time. But do you know what happened when I was given that diploma? I started to cry, would haven ever guessed, some stuff are shock to you too.

This is true. Nowadays, many wealthy people don't buy things because they need them; many of them buy expensive things just to show that they also acquire them. and after letting people know that they have it, they will abandon such things. Although when you are rich, you would like to get what other people are getting who are also reaching like you, but I think this kind of competition should be applicable to wealthy people, not someone who just started earning a large amount of money, because most of us are buying something as if our eyes are close.

Sometimes when we have plenty of money with us, many of us don't really know what we need and what we want; we just buy things, both the ones that are important to our lives at the moment and both the ones that are not, which is bad.


To be sincere with you, debt is just like demotion. It is as if you are going forward, but something is dragging you back. When you are owing money, you will not be able to plan another thing that will benefit your life until you clear such debt, and you will be like some one who is not even getting the money at all. Although I know that some conditions require you to collect debt, sometimes it is not really to set some financial problems that come your way, but the real thing is to pay it back. 

I'd advise people who suddenly become rich, for instance from bitcoin, to keep living the way they do for a while. Don't go crazy, just live the way you lived, but make sure you withdraw enough money to have good food, access to medical care, clean and healthy environment. If you live with your parents, or share a flat with your friends, get your own place. Nothing fancy because you still don't know where you'll want to live, but make sure you have your own calm place where you can think of your next step.

It's very important not to buy things that will generate expenses on their own. For instance an expensive car will cost you. You'll try to keep it safe, you'll need a place to park it, preferably a garage, you'll need to maintain it, pay taxes and so on and it's going to lose value over time.

Buy things that you really need like food, clothing, spend money on a home where you'll feel safe and relaxed. Healthy environment is crucial.

Last but not least, don't tell everyone. Don't throw parties and don't lend money to people. I know you want to share your happiness with others, but be smart about it!

Rich people generally prefer to invest, but people who have passed certain stages of becoming rich also know that they need to be careful with their spending. None of what we said applies to all rich people and they all have different lives. One of the things that rich people pay most attention to is staying rich. To stay rich, they have to maintain and increase the value of their money. That's why investment is their most preferred method.

I agree with you about acting in a planned manner. You cannot reach the level you want in one day. To achieve the goal, it is necessary to make efforts and act according to the plan.

When we are given more wealth, we must be grateful for what has been given to us, never feel that we are superior to people who do not have wealth like us, because wealth is a trust and a deposit that we must guard and use as best we can, still many other people are not as lucky as us.

When we have reached the point where we have enough or have more wealth, we must remember the people under us, we must help each other, use our wealth as best as possible, so that the wealth we have can remain with us, don't Have you ever felt arrogant when you have abundant wealth?

Most of the people who earn huge money will differently act because they think that money is everything due to which they lose their relationships but one thing should be remembered that money does not persist always therefore don't change yourself because of wealth.

In current age every other person is earning a good amount of money but still people are not thankful for their situations and want to earn more so when their wishes become true and they become moneyed person then they start to show off for their money but they don't know that money is not everything but real happiness comes with better relationship and better life.

I would agree to that 100%. Those who are actually successful and wealthy do not want to expose theirselves and tell the people their achievements. Instead, they focus more on their own investments silently and adding more wealth in the process.

While those who have just taste the fruit of their success and just started to live in luxury, those are the people who often post more not really to inspire others but to get recognition from those people who are also in the same level with them.

It is very inappropriate to humiliate other people in any way, especially if the person being humiliated has never asked rich people like that for money or food. Because for me, people like that are not really rich people, but just stupid people whose instinct to look down on other people is still very strong, even though other people have never had anything wrong with that person. And if you have ever seen a rich person who can benefit many people in your environment, of course people who like to look down on other people because they have a little money is a very strange thing because it is a virus that must be eradicated.