Topic: What was your lowest point financially? How did you go through it ? - page 5. (Read 1974 times)

I was born into an underprivileged family who lived by raising goats and agricultural labor in the countryside. Of course, to get a lot of money, it took me about two more years to make my goats worth selling. The most difficult thing about finances was when my father sick because as the only breadwinner for the family, the thing that makes me sad is when I didn't have money when I saw my younger siblings eating rice with only salt at that time, but I couldn't help my parents because I was still sitting at school, the solution at that time was that apart from continuing to try we must also be grateful and patient rather than complaining about circumstances.

It would be a fatal mistake if someone is addicted to gambling, for me, gambling is just a pastime to relax in stressful times, don't focus too much on it or maybe think it can bring profit or income for us.

Even if you are a person with a stable income, you should not be too passionate about gambling because when we lose, our reason will lose control. We just want revenge, but in the end, we will never win it until we lose everything. I have never met anyone who became rich through gambling addiction.

Everyone has a bitter story about the life they live in, the money we earn is no longer balanced between income and expenses, while the necessities of life are increasing, the price of goods is rising and inflation continues to affect the economy. This incident affected almost all regions and the financial sector played a significant role. Jobs are becoming harder to find and layoff rates are higher across the region, not to mention that fiat currency continues to lose value in the ongoing recession.

The solution we can do is by changing lifestyles, spending what is needed and rebuilding small businesses according to the skills we have and most importantly focus on developing the business we are running.

It was a rise and fall story and like you said human life is full of such and it will get to a point where you will be a little more stable and if you are stronger then you could rise forever. I thank God for all those times and now because he preserve my life and a living soul still has the opportunity to be better. It takes effort and not to lazy around. Doing odd jobs is not the end of our lives but how we are able to struggle through it that matters. I may not have shared a particular story but I tell you there are very many of them but above all I was hopeful and I kept fighting and with God my future is better than my past.



So where is the lady in your life today?  I hope she is somewhere special in your life or if not I hope you made her know you appreciated her role in your life because it is always good to show people how much we appreciate them while they were still alive and not in death.

Was into bunkering, and was doing almost very well in it , it was my seventh month and never knew I wasn't going to stay long in the business and when a ban was placed on the job, there was nothing else I could do so in a bit not to go broke again, jumped into a Ponzi scheme which I never   knew and it broke me without mercy and sent me bankrupt, later bounced back and last year, I did a business with a friend and it failed I had to shoulder the responsibility of paying for the whole loss and it wasn't an easy one for me back then last year.

actually the process of going down and up that has been experienced by me is so much in the past. But I have learned a lot from the experience. so that I can build an independent business (small business) now and have several employees.

But I have felt something very sad in the past when I was still working at a company. I become a good employee. and my boss really likes me. even put high trust in me. But it seems that my boss's subordinates (fellow employees but have a higher position than me) have instigated my boss in the past. so the situation changes drastically. I was transferred to work. given a heavier task and outside my field. my boss's cynical eyes kept staring at me every time he saw me. I was so innocent back then. and not prejudice. But the new reality was revealed after 2 months later. and I decided to leave. But before leaving I had made an achievement that would surely make my boss miss me and he would definitely feel sorry. I left suddenly and loudly said I would open my own business. and Finally I built my business from the ground up to today. when my business is getting stable. it turns out that a tough test is back. namely during the Covid 19. But fortunately my business can survive. But not fully recovered yet. Small and independent businesses sometimes make us live more comfortably than working in large companies that have much greater mental stress. and I think stories like what I feel must also be experienced by many people who have now built independent businesses. because I have also met someone who has almost the same story. build an independent business after getting disappointed from the initial job in the company. which makes our motivation to be high.

It's the actual diversification that everybody has to do. Not that wholly diversified as long as you're good with something you focus with and you're very optimistic with it as you projects that there's a certain target that you're looking at, it's okay to stay on that like in bitcoin or real estate or jewelries and so on, etc. The risk will be reduced based on the market that you're in with those investments but the same risk as taking something uncertain because of the possible up and downtrend of those markets.

I can really agree into this one because there are things which we have done the same on where those successful person do able to do so when they are just starting but ending up on a disaster instead of success and this do proves out that there's really something lacking on what you are doing.Its true that luck does play some role on someones success.

You could really read tons of success stories and trying out to copy but these things wont really be that simple but would rather be the most challenging of all.Majority of us would really be that impatient
which it would be ending up on rushing our decisions and ending up on lots of mistakes and errors.

It's the "success stories" that I love reading or watching because it usually shows they did nothing different from most people, and yet they got lucky that's it. Most rich people in the world did something that anyone can do, and they did absolutely nothing that is shocking to the investor world or even any person who tried their hand at a startup would tell you it's nothing special, but they got lucky.

Like look at facebook, it's the most mundane and ordinary thing ever, and look at how big they got, the idea is nothing special at all, and yet they are huge. Which is why those success stories matter, shows they did nothing different than the millions who tried and failed, the only difference was luck.

We try to do our part in the forum and warn people about the dangers of investing in altcoins, especially the ones that have been recently released, and while some of them listen to our warnings and decide to change the strategy they had in mind, the majority of those people disregard our warnings as they believe they know better, and while a few of them reach the success they were looking for, the majority loses a great deal of their capital and they get very disappointed with their results to the point of some leaving this market permanently.

In your case, the mistake was that you invested in altcoins, but apparently there was a moment when they could be sold at a profit, that is, the mistake was that you did not sell them on time. Or when you talk about all the eggs in one basket, do you mean that you all invested in some one altcoin?

If we are talking about investing in bitcoin, then in this case this is a good strategy. And the rule of not keeping all the eggs in one basket, I would apply in this case in such a way that your investment in bitcoin should not be the only investment, except that you can find other investments outside of cryptocurrency, this will definitely reduce risks.

Everybody has a story to tell about their financial or non-financial struggles, so we all know that life is not perfect. However, all I can say is that in order to achieve our goals, we simply need to put the past behind us and concentrate on the future. Even the successful posts we see on the internet are not without their challenges, especially when it comes to careers in business.

But as for me is when my father was in a sick bed for over three years. My father was a diabetes patient at Same time he was suffering from spinal cord injury, so we spend a lot of money to cure him to extend that drained his account and my mother's account that later we are we are surviving on loan and last last he lost his life.so from that three good years I was always in seriously struggling condition because I have no job doing and I always stay with my father take care of him. it is hardly I eat two times in a day some times.

Sorry to hear that happen to you, I also had some experience with this but it wasn't me doing the gambling. It was my friend although today he has gotten over it and it wasn't that complicated to achieved. I just want to share it with you so you could try it yourself and it could be of help to you. Gambling is very addictive and if you don't attack it with smartness you mightn't get over it

Firstly do you gamble just for fun or as a means or income. If it's as a means of income then you have to get something doing that can pay the bills for you so you don't totally depend on gambling for income. You can also assign specific account that will only be used for gambling if you're doing it for fun then gradually you decrease the amount you put in that account and finally you might get over the addiction.

Wrong steps always have a very commensurate risk even though it can be a very valuable experience later on for yourself. But as long as you can still get up with other capital or makeshift capital to recover what was lost due to your own mistakes, I think you will find back what was lost even though the time may be very long if the amount that has been lost is very large.

Your struggle is extraordinary because when you have experienced a loss, you still want to do research to be able to get back up in not so long time even though you have to start over from the beginning again. But you look extraordinary because you are still willing to fight and have the passion to get what you want.

Ups and downs in finance is a natural thing for every human being, from the top to the bottom of society, especially those who have a business will always be friends with it, but as we know, some people get back up and some that are devastated can't get up, maybe they can. to be crazy depending on how the situation and condition of a person in living it.
I personally haven't had the worst feeling about the financial crash so far.
I think ups and downs that can still be categorized in control (in the stages of guesswork so you make more preparation) are a normal thing in business like what I've done studying other people's failures in solving financial problems helps a lot in solving and preparing for in the future.

I have to admit that this is a common mistake, and it has happened to most investors since 2015, and I am one of them. I know bitcoin quite early, but I don't invest in it, I invest in altcoins for the promise of profit from them. I also lost all my assets while investing in altcoins, I was desperate and left the market for a while because of that. It was really a bad experience, but thanks to that, I learned valuable lessons and matured in this market. Since coming back to the market, I have almost lost very little, and the losses are not too big for me.

I messed up going 100% into an altcoin that made me lose everything years ago and I started afresh, at that time I thought I knew it all, I  don't know that putting all eggs in one basket is a lame strategy when it comes to crypto.

I got through this by starting afresh and upgrading my research skills, I gave up on everything I thought I knew, later things started to change but I t took me over a year and a half to fully recover.

Be sure to be grateful to those for whom you have gained this success. People say, "Never look back and just move forward". Well I don't agree to that. You looking back to your past and remembering your success that you have achieved in the past could also encourage you to move forward in the time when you are feeling low. Getting back that joy that you felt after your success will lead you to do more.
Make your life an example so that other people could get inspired by your life and you too. This is not an easy job, nothing is. What is easy for you may become as hard as rocket science to many others. Share your way of learning that which made it easy for you to learn and also learn from them too.
That's all I can say now.

But yeah the 2020 pandemic surely do the most.

Even if there is some new rich guy born out of crypto crash and rise , there is a lot more people suffering in these unexpected events such pandemic and the crisis , we are all have that story at least once in our life journey ... the one who never surrender are the one going to back up sooner or later , just keep the heads up and the sun will bright shine tomorrow aftere these crazy storm & long winter.

For me, my rash entry into investments that I didn't even study or research if it was safe says that my financial score is very low.

In 2017 and the years when shitcoins were still at their peak, there were also many who raised and lost money, I was one of them. It's hard to get out of the slump but I don't even think that I can return the money that I lost, all I did was look for a part-time income online to make up for what I lost using my job in the real world.
Now it's good and recovering even though we know the market is down but there are still opportunities to make money.