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I am a young man who is not married. I have made some mistakes in how I use money and the resources I obtain. So, I have come to share this problem with everyone in the hope of finding help and changing the way I misuse money. I have a psychological memory from my upbringing that money is earned and should be spent as long as you keep earning. I see money as something that needs to be spent. If I see something I like or desire, I buy it without minding the cost as long as I really like it. Yep. Many years of self-employment with varying monthly income were like a blessing to me since I started designing and building websites. This little money made me a bit proud of myself and where I've come. I made a lot of friends, and whenever they asked me for anything, if I had the money in my possession, I'd disburse it to them. I was happy to receive praise that I was the best friend a person could ever have. I won't forget when I started going to clubs and spending money on luxurious clothes and booking rides from one city to another.

All of a sudden, everything changed. I lost one of my most loyal clients due to a car accident. I started getting fewer job opportunities. My monthly earnings were so low that I could hardly afford anything. All the friends I had left me, with only a few remaining. That's when I realized that I could do better. It's been over five months now, and things are still not completely okay for me. But I want to change and plan for myself.

The main reason I'm sharing this topic is to get your own opinions and advice so that I can do better. I believe it's because of poor financial management that I've fallen to this level. I've been doing things that I now realize were not the right things to do because I don't have any financial stability. Last week, I felt ashamed when people see how frustrated i am because I had bitten off more than I could chew. I'm open to opinions and helpful insights to start again, but this time in a more stable and responsible manner.

Hope things get better for you. Honestly, it is hard for me to comment on your situation since the suggestions seem quite obvious at first glance that it might sound offensive. If you currently lack monthly income, why don't you try to open a service thread to make websites, etc? Or look for a part-time job near your area. For your financial management, I don't think the mindset you had is right. You need to manage money, not always spend it. Luckily you seem to have realized it already.

If you're asking how to save your money, I can only share how I did it. Personally, I will calculate how much monthly spending that I need to pay. I would avoid buying things through credit or lending money to others unless I'm sure I can pay the next 6 months without any problem. I'd allocate most of my money to saving/investment, and avoid buying luxury/unnecessary things. I think it is a matter of habit too. Learning to cook for example is one of the easiest ways to save money.

This is the lesson, trust no one and don't put any hope to anyone including your best friend or girlfriend/boyfriend.

I think I don't have to give any advice because it's full of motivation and use your common sense, but if you're want to get rich you must get a better job, spend less and always try to become productive by learn a new thing especially a skill that could help you to get a high paying job.

Never spend money because of someone.

Your story is enough to teach you a valuable lesson so you don't repeat the same mistake the next time. You probably can't save money when you have money, and I've experienced the same thing. It's all because earning money feels so easy. But when you earn money in a slightly more difficult way, you will be able to save and refrain from buying something that has no value.

Yes, what you need is the next chance and fix what went wrong the previous time. Maybe your current condition is not the best, but you will find that you will get better as time goes by. Rest assured, your first mistake that you regret will be a lesson that will make you better.

Usually people who have run out of money will have greater enthusiasm to make money. And that will be a better reflection of your economy than before. Keep your enthusiasm and don't give up on circumstances.

You refer to yourself as self-employed, indicating that your income depends on your work. It's an experience that can offer valuable insights into life's realities. I would recommend considering the idea of starting your own business, one that can grow over the long term. This way, you can create a source of income that doesn't rely solely on your personal efforts. It's not always easy to be in that position, but thinking ahead is essential.

While you're currently employed, it's a good idea to explore additional income sources. Over time, you can accumulate capital to invest in the business you desire, which can lead to financial stability. Furthermore, diversifying your income across multiple businesses in different industries is a smart move. It provides a safety net in case one business faces challenges or struggles.

If we have money people will say "that's my brother" and vice versa...that's normal and don't think too much about it. Do it with pleasure and there will be a reward in return for you later without you expecting it. This is the same as the current money market conditions which allow investors to make bets based on the results and past correction moments tend to find support at the resistance line.

Just enjoy it, my friend..

You've already taken the first step, getting interested in personal finance. There is a system that is very simple and works very well which is the 7 baby steps by Dave Ramsey, which I recommend you to follow.

It is basically about controlling expenses and income, building an emergency fund for unforeseen events, getting rid of consumer debts, and saving and investing. If you have an unstable income you have to calculate an average and spend based on that. If you have had a good emergency fund of 6 months of expenses, you would have experienced what you say has happened to you in a very different way.

Until now you had a tendency to spend everything you earned but that can change and this thread is proof of that. It's not a thing you're going to change overnight but you'll get there.

The first thing is to read a few books that will help you expand your horizons and show the shallowness of such a basic need as the need to have a new gadget. I recommend, for example, Harrari (who calls capitalism and consumerism new religions that thies their best to convince people that the source of happiness is spending). Secondly, books about stoicism. Moreover, it might be worth consulting a psychologist, because compulsive shopping is a disorder that can be treated.

You're right, nothing wrong is with OP, he only thinks of himself that way because of his losses. When we have the resources we do what makes us happy. That's what it is to the invisible hands controlling the market. The car owners he booked and clothe sellers also need to sell their products and as well spend it on what makes them happy. A business that needs a website to be happy would run to OP to get it done. These can't be controlled, it's all about how wealth circulates amongst people. I don't think Op needs a psychologist, I was reflecting on something yesterday on money spending. What do we do when we have no money to spend? this could be a good question enough to start a fresh thread, but would love to look into it here for the sake of OP. Sometimes when no money is in our possession we would manage the little funds with us and also think that we were extravagant when we had reasonable sum of money. We'll begin to see opportunities we lost, because of our drive to live a luxurious life. Does these habits change when the money comes right back? In a bit it will, but sooner we'll definitely go back to our previous ways of spending money. Hence, we'll see that the invisible hands operates around those with money and leaves people with no money alone. When we have no money, lesser people ask for our help financially compared to when we do have the funds. I do wonder about, how these people get to know that I just received money few hours back and they're seeking for my financial help. You'd notice that nothing is happening under anyone's control even OP. I can't offer him a direct response, as he's done nothing wrong. It's not his fault he ran out of sales. I know he'll be worrying about, why he didn't use those funds he felt wasted on friends in the club, to promote his business to reach better audience. I'd like to ask OP, if he used all that money to promote his business and never got a single sales from it. Would he think of himself of being irresponsible with his wealth?  Human nature feels vulnerable when restricted to different lifestyles that brings them happiness. And lack of money is the best moderator on such matters. Providing him with answers like you should learn to save next time and all that, will only worsen his private thoughts of himself. Especially, when he mentioned that we should be reasonable with the way we respond to his questions and previous behavior.

I can say OP should do that thing again. What fetched him clients and money. It's always great to notice what we do when we have no money, and things we do when we have money. It can never be similar. These are two different times in a man's life. It'll surprise you to know that, some people don't get bothered when no money is in their account. They still live a great life, due to the kind of friends and family they've got. But, it's important to also know that you can't live the way you think now, you'll live when another wealth traces its way to you. Only few men who can delay gravity. Would have money and still maintain to live their lifestyle like when they had no money. Peace.

After reading your story, there are several things you should change so that you don't feel guilty or you can change things that are not necessary. OK, here we go.

When you have money, you can buy many things you want. But you must also remember to save some of that money for your future. You must have experienced something where you didn't have any money at all and that made it difficult for you to meet your living needs. From now on, if you have it, try to take a few percent to save. That's for your future. Regardless of whether you desire to invest in Bitcoin, make sure you also save.

There's nothing wrong with giving what your friends ask for, but you should sort out which friends you should give and which you shouldn't give. You can't treat all friends the same because there will be those who intend to take advantage of you. You have to admit this and start looking for and finding friends who are truly friends as your close friends. We really like receiving praise, but it can make us arrogant and possibly put other friends down. Try learning to save money because it is for your good too.

If you can save your income from the time you start earning, you will not have difficulty surviving. But it has happened and there is no need to regret it.

Only good friends will stay with us when we are experiencing difficulties. They are the ones who will continue to fight with us and help us find solutions. You must value these friends because they are truly your true friends. Such friends are hard to find so don't disappoint them.

You have to get up, no matter what. You should be able to earn perhaps more income than before. Once you earn income, you should start saving and use some of it to invest in Bitcoin. Try to save on your expenses by buying only daily necessities. Improve your relationship with your close friends because there might be a better business offer. Ignore all the praise from people and assume that you still need to learn to improve yourself so you don't become arrogant.

 There's the saying that once there's money, you'd have a lot of friends because just like bees are attracted to money, that's the same way they are with one who is an easy spender.
I feel the first step to changing for the better is admitting your faults because it will help speed up the recovery process more than when you choose to shift blame on others. With the current economy status, it would not be advisable to spend out of impulse or a whim but rather, have a budget and stick by it and that way you can save money.
 Being self employed has its perks as it gives you sole authority of not just the profits, but also the decision making but it can be quite telling when you have to brainstorm on ideas alone and as you mentioned you were in an accident which is quite unfortunate, it will also affect your creativity and can put a strain on you which will in turn affect the business as low performance can result to you not getting much gigs, which you pointed out by the way, so for me I'd suggest you either look for someone who you can partner with while you are recuperating so you two could brainstorm ideas together, that way the load doesn't lie on you and when the profit comes, you share fifty fifty. Yeah that's expenses you are trying to avoid but half is better than nothing.

The story is very relatable to all young people who later have to grow up. I can relate your experience to mine. Parents who help and do not deny their child anything can greatly harm him in the future. But you earned your own living, and in this way, you can be respected. Yes, not everyone is given a book on how to lead their own correct life, but if you achieve something once, you will do it again.
Another question is when a person enters life very spoiled and all the problems that he did not expect splash out on him at the moment. This requires self-confidence and strength.
And for you, OP, I think everything will be fine. You have the right to a beautiful life—the one that everyone wants to have. You've seen a few examples and gained some experience, and now, as you grow up, you know that money tends to run out randomly. Therefore, first, create a financial safety net for yourself and continue to enjoy life.

You've said that you've grown to believe that as long as you've means to make money, you don't have to worry about spending and given that it's instilled to you at such a young age I assume, you're going to have a hard time being able to change the way you see money and your spending because the habit and mindset is too innate that a change would be difficult, you can probably do it in two days and then you're going to relapse to your old habits, I suggest that you talk this out with a financial expert that can help you in your spending and a psychologist to help you or guide you into rewiring how you think when it comes to money and removing the old habits and mindset that you want to change or remove. Self-help books can be helpful too.

That is really unfortunate story man but at least you learn a valuable lesson on your experience so next time try to manage your finances and buy only those things that you really need not those you only want because you like to flex that you are financial capable than those other people since you already know how will you end up if you do similar situation once you get up and start to earn huge again on your online jobs you take. For now try to set aside or totally forget those friends which is not there when you are struggling but focus on those person who's there when you need help because they are the true person who has a concern on you.

Also lastly always stay positive in life since not every time we are full of blessing so let those hardship be a lesson for you to save some money on emergency situation so that you will not struggle in life financially if same case happen and you need to find another good job that can give you more better profits.

Yeah, and you can't be sure how long you'll be able to earn stably. And this is actually not a new problem, where when people start earning more they also increase their excessive lifestyle and relationship patterns. And some of the reasons are very silly, just wanting to get recognition in their social environment.

I remember the old message, "too much is not good even if it is a good thing".

I think that you all understand what led to this situation and what should be done to change it. What do you want to hear, what advice do you need?

First, learn to live within your means, and make sure to save at least 10% of your income, or even better, 30%. Secondly, when you collect a more or less significant amount, think about making this money start working for you. There are many options for this, but try to figure it out for yourself, determine for yourself where you could invest this money to receive passive income, perhaps this amount should be divided and invested in different assets.

Your story makes it very clear that the uncontrolled happiness you felt when you first made money has come back to haunt you. Your cash plan needs to be completely redone. The way you handle your money (spending what you earn) is a time bomb waiting to go off. Think carefully about what you're doing. Thinking that your self-worth is closely linked to how much you spend and the short-term praise from so-called friends is not a real problem

Now this is a real plan. First, understand how the current economy works. Saving is just as important as earning. Budgeting and smart allocating of funds should be encouraged. Get rid of the idea that short-term ties and club nights are what make you successful. This is a lesson in being strong and managing your resources. Being financially stable doesn't just mean making money; it means making money wisely and saving a lot

You succeeded in bringing me into your story. What's interesting about your story is about how you should make friends and manage your finances well. The phrase and advice that we often get from loved ones is that friends can make you rich and friends can make you suffer.
Money is like magic that can bewitch situations in an instant.
When we have a lot of money which makes it easier for us to have the needs we want, our friends can increase from just a few people.

Here, I want to convey that you have had an extraordinary experience. Hopefully this experience can make you a greater person with the skills you have.
Not all friends you consider friends are really friends. There is only one in ten friends who is a true friend.

Test them one by one and you have done well with them.
Start with new habits and don't give them anger for what they have done for you. On the other hand, you also don't need to feel sad about what you have given them.
Say thank you to those you once considered friends.

There are friends who are allowed to be brought to the fence of the house. There are friends who are only allowed to enter the house. There are friends who can exchange things with each other.
Hopefully you understand what I mean.

We cannot give you golden advice, as we may be in different countries, with different income levels, and a different definition of wealth, but in all countries of the world, unless your income is higher than your expenses, you will continue to suffer financially. Reduce your spending to a reasonable amount, leave yourself two days a month for luxuries, buy luxury clothes every 6 months, and calculate your income. If it is equal to your expenses, then look for an additional source of income to invest in. else, then you must change your job or at least reduce your spending.
Your health condition is fine now, but as you get older, you need more money and you may need to start a family, and therefore you should not think about friendships, especially those friends who love you because you have money.

Your condition may be in the context of being intentional, on the basis of your hobby of buying and because of the relationship of friends you do not hesitate to give it, in my opinion it is normal but the option should have a good commitment to yourself or even give loans to friends especially about finances when conditions are good at all, I realize that being self-employed is making money depending on the client who needs our services and every day it will be different income earned especially unexpected conditions like what you experienced can happen at any time for termination of cooperation for any reason sir, if you are still pursuing similar services it could be that the client moves elsewhere, imagine if in the future you experience the same thing, of course you will be wiser to manage money from yesterday, right?.

I am sorry for what you are going through, but now is the time for you to rise up, so that the lost clients can come again from new clients and you can continue your work with a recovered turnover, experience is something valuable and it is medicine to do something to see what the consequences and benefits are before acting.

You may still feel like it's unfair, but believe it or not many people with basic economic skills have just gotten to where you are today, you have valuable skills and experience, start again, renew again and grow again.

There are still many hopes that can be achieved and can run with your current mindset, do not hesitate to reference from other people if you think it's a good idea.

Yes, things have started getting into place gradually. I had made some plans that I want to execute soon. Firstly am on the process as if building my portfolio website which contain a brief story of my life and more of my works accomplished. Also I have made a simple design of my service thread for my design. So before the end of next week I will be posting it on the service discussion thread. When am done with that I may share the link to the thread here if it's permitted so that you and other concerned members can give some positive comment after viewing my portfolios.
I joined the forum about 4 to 5 months ago. Ever since then I have had beautiful life. My views and mentality changed. I have learnt a lot that has helped improved my knowledge in general. One thing I am eager to do f I am given an opportunity is to show my skills when I get my first job opportunity in the forum.

We can be friends with anyone without choosing, what we need to do is know the limits of friendship, it is true that we need to test them before giving them more trust, but in my opinion, even without testing them, if they really have evil intentions towards us then they will visible by itself without us needing to test them. You are right that there are some friends who we cannot give full trust to because they don't deserve it from us and there are also some who we can give full trust to, because we have spent a lot of time with them, both happy and unhappy.

At least you realize that you have gone the wrong way in managing your finances. And awareness like this should increase your insight and allow you to learn from the mistakes you have made. And I feel confident that you will be able to get back up and rebuild your finances on a better path. Because so far, haven't you also succeeded in making money from your hard work on the internet? Then I'm sure you will be able to do it again.

It's just that this time you really have to start changing the way you manage your finances. You have to start managing your finances better. By learning to allocate money to things that you have prepared and planned well. You must begin to be able to differentiate between main needs and additional needs. Everyone likes to have fun but we don't always have to do it too often. Limit this to once a month or once a week. you have to start being able to restrain yourself.

I think we all have made some bad financial decisions we’d prefer not to have made in the past. While the mistakes made in the past may in a way, tell on your future, it doesn’t totally define your life unless you let it.
You’ve learned the hard way sadly, that not everyone that flocks around when all is well should be considered a friend. And In your case, you earned your money so I can understand being proud of what you’ve got. Anyone would. You’re now fully aware of the reasons on your new financial situation and things that should be curbed. You can really do much better.


Thanks. I guess I also needed to be reminded.

Well, bull season passes rather quickly when you're not saving money for a rainy day. Or even if you're not saving enough money for it. The amount varies per person.

But like I suggest to everyone else, it's time to start cutting down on expenses. Think about what is necessary for you, and the things that you only desire to have, postpone them until another date.

The serious mistakes that we often do is that we all learn to depend on a single entity for our sustainability without having a backup for it, doing a business is a good as putting the risk management in mind that anything can happen at anytime, how will I be able to recover from loosing my customers, market sales or the informations I've got concerning my business if the worst scenario should happened.

When we consider this, each time something new is about to occur, then we will have to remember that we aren't loosing because we already have a backup means to help our business keep running.

Making money and spending money is not a bad thing; what's bad is you making money and spending all of it; that's where it could be considered bad behaviour. Based on your story, what I notice is that your major issue is,
1. You want to satisfy your wants and desires all the time.
2. You want to satisfy your friends and feel at home.
The reason why you realise you are not really living your best life is because you have started running for cash. Since the cash is not coming in as always, you have started realising that you are not doing wise spending.
 
My advice is that the only thing you need to put at the forefront of your spending is your needs. You need to minimise your wants and cut off those desires to always get everything that you want. Those alone can run you dry. That's because human wants don't have limitations; more will continue to come as you satisfy one another.
 
As for your friends that you have lost, they were never your friends; most of them were just there to enjoy what you could offer at the table and leave a competitive life with you. The moment you can't meet that standard, they will live, so such friends are not even worth keeping, and their leaving you now is a cage-free for you.
 
Set up a savings plan, as you don't have a fixed amount and fixed date that you receive your money. Always make sure those little you receive by doing certain jobs you remove your savings from it, keeping in mind that if you don't have anything no one will come to your aid. Start spending responsibly and take away that mindset of more is coming. Why not spend the little I have now to create room for others?

Well, you have said a lot and I really agree with that on one side. Yes, it is true that money is for spending, but it is not just for spending alone. If you spend money without creating an opportunity for another money to come into your hands, then you will be left with nothing (after spending the ones you have).
Also, while spending, it is also good to save a little so that it can help you get out of emergency cases, just like now that you are left with nothing and your friends have forgotten about you just because you don't have a dime. However, this will be a good lesson for you just if you gain back what you have lost previously, you will learn how to manage money, how to save and how to create an opportunity for more money to come.
It is a bit easy to meet good friends and bad friends. It is just simple. A true and good friend can watch your back when you can't see clearly, but a bad friend will run away when you are in trouble, more especially, when you need them most (it is not a good idea to keep bad friends).

The mistakes you make in your twenties may be costly. Therefore, as long as you are still young and do not have obligations such as starting a family, supporting your family, or any obligations such as real estate debts, student debts, etc. it is better to think seriously about your financial future. Always try to reduce your expenses and control your expenses. Your instincts are to pay yourself first by investing and leave the surplus to pay the bills. If there is anything left, you can buy what you need and do not do the opposite, meaning that you do not start buying unnecessary things, then necessities, then investing. If it is difficult, look for a mentor, whether it be a psychological counselor or an economic expert.

That is life for you. I think by that time you were doing all that, going to clubs and moving from city to city like you had a machine that was making money, i believe someone would have advise you to stop and to stop spending your money, because it seems like where you are making money will last forever. Nothing lasts forever, so we should make the most of every chance we get in life to create something. For example, if you had invested all the money you were earning at the time in bitcoin, you could have become a billionaire right away. Nothing would bother you, and you could begin living the life you've craved for, but that doesn't come to your mind then.

You truly made a mistake, buddy. I only hope that things are improving in your life because of how you have been using your money for necessities. You are still a young man, you are single, and you have the ability to make things right for yourself. There won't be any pressure on you. By now, you could have established yourself as a successful young businessman if you had taken good care of yourself earlier that are earning huge of Look at it, your friends have abandoned you You did for them when they needed it, now you are left all by yourself, it is difficult for you and no one wants to support you. I think that may have given you a big lesson of human. I think you can still succeed in life if you continue to work hard; it might just be a test of life.

It's important to always consider our future, as there's no guarantee of what lies ahead. That's why it's recommended to save money for emergencies. According to what I've read, having at least six months' worth of your monthly salary in savings can provide a safety net to cover your expenses while you search for a job or clients. It all comes down to discipline – it's fine to enjoy your earnings, as they say money is meant to be spent, but it's crucial to make wise choices in how you spend it.

Some individuals, even while employed, engage in side jobs or start small businesses to ensure they have an additional source of income. This strategy helps mitigate the risk of unforeseen challenges, much like what happened to you when you lost your client and faced difficulties. Diversifying income sources is akin to the concept of minimizing risk by not putting all your eggs in one basket, as we often do in investments.

A person's goal is to make money to enjoy life, with money you can buy something valuable. As long as your source of income is not blocked, you are free to spend the money as you wish. It needs to be underlined, sources of income are not always smooth from one direction, sometimes you need to open new sources from different directions to keep income smooth.
Situations like this need to be anticipated by having savings, not always the savings you collect will be enjoyed by other people. Early anticipation needs to be done to ensure your life in old age, without having savings, you will have difficulties when you reach retirement age.

Your sudden change of financial ability makes you depressed and you are thinking the world is a broker for you. I think you should take a refreshment in your life, This can be a tour or something else that will help you forget your past bad experiences. Take this as a positive by thinking you would never have this understanding of the importance of financial knowledge. As you have understood your weakness, start working on it first. Build up your financial knowledge to get a better understanding of how you can grow your income without risking much of it. Then start working again as you were doing before.

There's a saying that "if you fail to learn from others' mistakes, then your experience will teach you." If you still fail to learn from your mistakes, then you will keep failing. There's no one who can teach you more than what you have already experienced. What I will advise you is to keep in mind the kind of friends you keep. Keeping friends that you know so well that they cannot help you when you are also in need is not wise. While growing up, I understood that there are different classes of friends or relationships. You will encounter friends who will always have your back when you need them; you will also encounter friends who only want to share in your happy moments but can't provide any help when you need them; there are friends that are in a parasitic relationship with you, and if you don't realize it, you will just be their victim, like in your case.

Condolences for the events you are experiencing, but this is the reality of real life where a friend can just leave us when we are miserable or experiencing a problem. They will always approach you and adore you when your position is above, but few people will sympathize and be willing to accompany you when your position is below. But to hell with it all and there is no point in us expecting a sympathy and support from others to be able to make us rise again, we must be able to realize that those who really care about ourselves are ourselves, not others. So keep fighting to get up stronger than before and keep trying to improve your life by controlling all the activities you do including the financial management you apply.

"Stop expecting praise and sympathy from others, because this is of no use at all and will only cause a loss and deep disappointment"

Learn from your wrong choices and live on, there are times where we all feel like we had enough and we start giving out to people but in the end they don't do the same thing, you can help somebody and they will say you help them because you can, meaning you are spending lavishly.

Whatever happens, you must always come first before thinking about others and when it comes to money I was build in a way that I always care about tomorrow, I know nothing else than investing more and more, and if I come across something that I need I always make sure that I can afford it and still have a lot available.

You seeing money as something that should be spent is a very bad thing, I see money as something that should be invested, this is the way to have many more money, before I can spend on something that wont give me more money in return I have to think very well, I remember getting my first car, I already have x5 of the money for the car before getting one, and this is the way it should be.

I don't think you did anything wrong by spending your money on fulfilling your needs and some wishes, like buying anything you like because that kept you motivated for work. I have experienced it when I saved money and did not spend it on any of my wishes, but recently I came to realize that I should spend some money on my wish, and my wish was to buy my father a phone first, so from my earnings, I bought them a phone 4 days ago, and he is so happy that I wanted to do more and wanted to make more money. I am motivated.

But after reading your topic, I realized that I am doing the same thing (not a mistake) because I am also not giving a shit on wasting money. I wasted around 20 dollars (which is obviously not that much) just to buy a new phone. I don't keep track of my funds because I have to pay black tax, so the expenditures are huge for me, but still, I think I am being alerted by your post and will try to not spend or waste too much money on things by calling them my wishes.

Thanks for the post, and how can you do it better? For it, I will say, do not lose heart, as in bad times many will leave you even after you aid to them, they will ignore you. It is a lesson, and you have learned it, and with time you will find more and better clients that will pay you even more, and all you have to do is work on your profile and try to do something out of your field like you are doing here making posts, and I hope signature money will be helping you.

I feel sorry for you, but do not get bad ideas and try to be motivated because in freelancing people lose clients but get new ones too, and you might have wasted some money on things that you liked and bought instantly without considering the amount you have spent that you can use to make some type of investment in BTC or in any other asset.

You made the small mistake of opening your heart and wallet for everyone and giving away your money to all who were in need. You spent your time buying new clothes and shoes, which are also necessary, but first you had to save some funds in your savings to make such activities.

Because these activities can cost a lot and without having funds in an emergency will make you feel regret, like you are doing now, I don't know why you think you are desperate about money. Maybe you used to earn a lot and spend a lot, and now you earn less and might not spend a lot. Because I know this feeling when you buy something favorit by thinking your desire to buy that thing will be eradicated but instead it just increases more and at some point you will be left with less money and something bad happens and changes your life, but do not lose hope and be positive and find new ways to earn money and diversify your source of making money. That's all I can say for now.

Are you open to criticisms as well? Because you will expect more of it here in your thread, but most of us will give you an advice nevertheless. :)

Mindset, and discipline. These are the things that you lacked with that's why you tend to spend your hard-earned money in things that you don't need. Our life is like a wheel. Sometimes we are at the highest, but sometimes we are at the lowest of it. I've also experienced that one where I don't have any money at all, and I need to buy something important to me. The thing that I hate the most is borrowing money from other people, but at that time, I forced to borrow money to somebody just to buy that thing. After that I don't borrow anymore until now, and I always keep a portion of my monthly salary for emergency expenses.

Change your mindset. Be mindful with how, and where you are spending your money. Be discipline enough to know what are the things that you need, and the things that you want. If possible, learn how to budget because it's one of the best things that you need to know. I'm pretty sure you OP will recover from this sufferings that you are experiencing right now. Make a plan, and change everything that you need to change including your mindset. :) Good luck with your life OP.

The way you posted this sounds you are in the verge of completely understanding what is going on and only seeking for additive in your plans of changing and that is perfect for your life mate.

What I can only say here is Never buy a single thing that you don't really need at the moment , meaning never buy because you like in but Buy because you needed it.
sometimes we are being blinded by how great the advertising comes from every product that we have come to think we need or love it but that is how advertiser being paid, to fool us buying while we still have something almost similar to that.

Best example is MOBILE Phones , companies are making newest version while there are still existing one for what reason? ofcourse for them to earn and for us to spend.

You already know what's happening - that's a good first step. Knowing what's wrong with yourself, or self-reflection, is a good way to know where to attack the problem. You sought for help which is commendable. Not everyone will have the courage to seek help for these kinds of problem. You also have a good background that can land many jobs. While you're still applying for jobs, learn more skills, create some mini side projects showcasing these skills and add it to your portfolio. Afterwards, just do what you're doing and live frugally. Eventually, you'll get the hang of it, and hopefully you stay at it for a long time.

from the story itself its clear that your financial management is indeed really bad, it definitely one of the thing that causes you to be so fragile financially, just few months in after getting fewer income you're already couldn't afford anything, its not really great for you in the long run.
the only way you can overcome this is to force yourself living frugally, exactly at this time when you are facing hard time, you will know what it means to live frugally take advantage to learn from it, so that when your income is making a come back, when everything is getting better you will find yourself easily manage your financial and become better than before.
even though its not as easy as said but still you still need to try it out honestly.

I feel you OP and I have seen a lot of the same experiences and stories like yours. First, you need to accept the fact you're in that situation but sometime in the future, you'll get out of it. That's a fact, you don't dwell on that situation forever because you've got goals, and that's the next step. You need to setup your future goals and what you want to achieve. Avoid the late party nights because based on your experience, they are your friends when you have money and that means, your money is only their friend and not you. Forget about friendships that only matters when you've got wealth but soon you'll find real friends that will be with you, whether you have something or got nothing. Next is to think that jobs don't last forever especially in your niche, you don't get long lasting client and if you do, treasure them and be the best version of your everyday. Next, when you earn money, change that mindset of yours that they need to be spent immediately. That's the whole point of your belief that you need to spend it, immediately. Save for rainy days and think of this current situation of yours as one of the rainy days that might happen in the future so that you're prepared and when you've got less clients, you'll still have savings until you find one. Invest, save and be responsible, read more materials about financial literacy. Good luck and I know that you'll survive this current situation you are dealing with.

The problem is your current lifestyle, I think you need to let go of it and start over again. I mean you need to live on what you earn if you couldn't afford it don't buy it, honestly I used to live like you and I am slowly getting better on my own again.
You need to know what you really need and only spend on those things, you could spoil yourself sometimes but make sure that you wouldn't spend most of your savings or money on it.
Look at your downfall as an experience and a blessing, now you know who only used you for your money and those who stay are your true friends who would stick to you no matter what, you already succeeded before believe in yourself and you could do it again, but if the time comes that you are on top again remember those who stay and support you don't be swayed by those who would only show up on your successful time.

I guess there is nothing more to add here.  @OP you have acknowledged and identified your mistake.  You already know the reason why you suffer such difficulty.  All you can do right now is to change for the better and apply what you have learned and the solution you found.

Financial management is the key, and you already pinpoint it.  Learning and applying the right financial management to your daily activities will solve your financial problems and if you can, you may also find another source of income if your current source is not enough.  Aside from that, people are indeed often exposed to unnecessary experience to learn.  So, just move on and be a better person that values money for future needs.  Forget about those friends who left you and treasure those who stayed :).

Whatever you're going through, there's definitely a good reason why. You probably won't be able to pass it if God knows you can't pass it, that means it's just a test. Because God knows what your capacity is. The important thing is that you realize what mistakes you have made that should not be repeated or made again.

Let go of the mistakes you made so that you can do what you should do right and achieve whatever you want based on the needs of life that you are facing now that you are here in the crypto business industry.

now you have lived a bit of life. you can start taking notes on it.
no one should turn into a hermit and squander every penny and never spend it. but be more practical..
learn your happiness's.

think of money as a tool of life.
look back at your previous experiences and think about which experiences you paid for that actually still make you happy thinking about today that bring long term happiness without regrets

EG
did donating money to friends give you more then a days happiness, or regret now
did that nightclub life make you happy a year later having fond memories or did the thrill dissipate the next morning with the hangover

do exotic vacations give lasting memory, or going to a local sports event

hobbies?.. the list goes on. just plan one really good experience you still want to have in life

never give up on things that make you truly happy but prioritise that happy experience.
you know. the anticipation feeling of looking forward to christmas/vacation, that kids have months before the day.
ignore the short term moments that get forgotten, regretful soon after

set a goal of one vacation a year or 2 sports events a year (whatever your happy moment is, whatever it is).. break down that cost to a daily amount/monthly amount you can put aside. it becomes something to look forward to, something you can watch your account accumilate to show progress towards it, rather then avoiding doing anything this year and thinking and regretting never getting to experience anything again..

again dont plan on going sporting events each week or nightclubs each friday night or vacations each month. make it a 1-2 times a year thing to build up excitement, anticipation and doing it within your budget. EG if it is nightclubs. plan it for your birthday or special event.. rather than weekly

once you realise you can still plan to enjoy your money on life experience. then budget your income
this may be cutting down on non essentials. buying cheaper brands. and even downsizing your housing costs

put some money aside not just for the anticipated experience but also as a rainy-day fund incase one month you have no income at all
make these money put aside payments as automated deductions from your spending account.

next is where to store that put aside money.
some invest in the stockmarket, some invest in bitcoin.

for the anticipated events this year just keep in a second account. for the long term rainy day fund invest

think of things you want to do this year(experiences) and allot the budget for that as just explained
think of things you want to do in next 5-10 years (house/family) and allot the budget for that and invest it
think of things you want to do for retirement and allot the budget for that and invest it

think smart with your money
EG do you really need to spend £$## a month on netflix or gym.. or can you use other streaming sites to watch movies for free and use a local park for free fitness
im not saying give up on fitness or movies but can you find money savvi ways around your daily life thats cheaper or free

all those little monthly spend amounts add up. so be frugal on the petty stuff and dedicate your money into the positive directions you want to experience

then when setting up automated payments to split your money into those pots of savings. and cutting out the dead wood of wasteful spending, then concentrate on finding new clients and expand your income

At op listen to this guy.

You made mistakes in your 20’s you seem to still be jn your 20’s.

This means unlike me at 66 time is on your side.

if we both live to 80. I have 14 years
you likely have over 50 years.

So make some long term plans.

Dca some cash every payday. hodl it
Dca some Btc every payday. hodl it

Come back to this thread and report how well you hodled the DCA in cash and in BTC.

If you can dca some cash and some btc every payday for a year in a row and hodl it you will be on your way.

I dca btc every week.
I also mine coins.

I let them stack long times years and years.

I did not do this with Btc back in 2012.

I did do it with doge and turned 2000 into 85000.  Could of been more but my hands weakened and I sold too soon. Still making the 85 k was nice.

The good thing for you is that you already know what your problem is because it would have been bad if you couldn't trace where it all started for you, so now that you already know it is half solved.

My advise therefore is continue with your work and soon another big client will locate you and when you get back on your feet be wiser. Invest more and keep away friends that won't contribute meaningfully to your life. Be prudent with your finance this time around.

What you experienced happens to big companies too. Imagine a big company doing great, sells lots of stuff every year but it only has one big customer. What happens to the company if that customer finds a better supplier? That’s pretty much what happened to you. (In your case it is a car accident) You depended on that customer too much. Now you should find new customers and upwork is a great place to start. Beware the scammers though. If you spend enough time there you will notice them from a mile away. You are a loser when you give up. Till then the fight to survive will never end.

Today's economy necessitates careful financial management and pragmatism. Living within your means is a reflection of understanding the state of the economy as well as a personal financial philosophy. Even though it is erratic, Bitcoin is proof of creative solutions for asset preservation

Thinking back on your experiences as life lessons is priceless. Since financial history frequently repeats itself, it's critical to identify true allegiances. It's important to keep an eye out for things when you are financially successful. It is necessary to exercise caution when it comes to fleeting relationships that arise in times of prosperity. Financial savvy and pragmatism are essential in today's world

There is no longer time to mourn what has happened, and basically many people have stories like this but to varying degrees. It's just that the essence and flow of spending money is to have fun. Personally, I also have almost the same story and managed to overcome this. I mean overcoming wasteful lifestyles and having more goals to live a more useful life. A person must reach the lowest point so that he knows how valuable it is when life is still sufficient.

This is not the same but various experiences, firstly, when we are in a stable financial condition, we have to look in all directions, meaning we have to compare our conditions more with those of people who are much more difficult because that way we can be more grateful for what we have achieved so far. Secondly, you have to remember that age continues to increase, sometimes every day you get sick and the older you get, the more demands you have on family life and ensuring that your children will not have difficulties in the future. Developing a leadership mentality, especially becoming a family leader who will set an exemplary example.

It's normal to have fun every once in a while, but there needs to be limits, because you're not married, you don't feel like that's an obstacle, so don't think twice. But there are people closest to us who we can trust to give advice, even good friends will definitely give good advice too. It depends on how you get along with the people closest to you. Actually, nothing changes you other than yourself, because in the end you will be faced with the demands of maturity. No one's path in life is smooth, everyone has their own bitter story, and different paths in life will continue. You just need to reflect for a moment to see neighbors who live below you but seem to enjoy their lives even with minimal income.

If other people can enjoy life so much, those of you who have everything should be happier. In fact, no, it means that the measure of happiness is not just about having money. Life is too short to define it like that. You need to be grateful a lot when the economy is stable and have goals for the future, be it investing, giving charity, supporting your living parents or those closest to you who play an important role in your success. So the point is to live like the soil and learn from it because we will eventually return to the soil.

I kind of agree with this but I only see sense in accumulating cash until:

1) you complete an emergency fund of a maximum of 6 months of expenses.
2) you complete sinkings fund of foreseeable expenses.

Beyond that, I see no sense in accumulating cash, the rest should be accumulated in financial assets, mainly bitcoin but it is not bad to have an index fund or any other financial asset of your choice to diversify.

Your story is similar to the general experience of many youths today. They are more concerned with pleasures than securing the future. But the best part of your story is that you have realized your mistake and are willing to change from your unprofitable ways. Saving and investing is the best decision to take now that you are young because it might be difficult when you start having dependants. Some people think that it is when they have a lump sum that they would invest but they don't understand that little can make one a millionaire in the future.

There is no shame in failing and raising. You need to put yourself together, control your expenses, and save more. Designer clothing, clubs, and other luxury will always be there to enjoy. But it is wrong to lavish money on them when you don't have any investment. If you have businesses or investment that brings good returns, spending on these things will not have adverse effects on your finances. So the slogan now should be invest and enjoy in the future.

See, this is the most important thing that really needs to happen at least once in your lifetime. Don't regret what you've done before. Those money you have spent and the time you have spent enjoying the things you like is a memory of a lifetime and it's gonna be priceless.
However, you have to always remember from now on that everything that goes up must come down at a certain period of time. You've just learned a valuable lessons and experienced the highest time of your life, now you need to fix everything up and I bet you know what you need to do to avoid struggling when times like these happens again. At least now you're more ready than not.

Not all wealth is good for us. Sometimes avoiding the crowd allows us to progress further. Not when the atmosphere is busy, but when we are alone, we can find the answer.
We don't need to extend it because we have a view on how to maintain a friendly relationship with a view on how to manage finances in living life.

Expenditures must be limited and minimized as best as possible. Not to make yourself stingy in giving, but because there are other things that need to be prepared. Maybe preparations for starting a family or other preparations that we need. For those of us who are still decades old, OP's story is an interesting thing to experience.

Bite off as much as you can chew.

Well. I can say the Friends that has left you since you have no more finances to offer them are not your success attractions neither the remainders that stayed.
Not even their fault that you got broken at this point. You were not rebelled rather they lived a dependent in you which you singularly on your own danced to the tunes.
You tends to live a celebrity and flamboyant life without diversification of your sources of income so that you can implement a financial expenditures as a manner of financial management.

However, since your success is not tied to any other your above friends, I will ask you to keep grinding, keep pushing, keep hustling and you will be on your fitness again and hope when the time comes you would learn from the pasts with the endivoirs to diversify your source of income.

Otherwise, phases of businesses are sometimes Seasonal which may either be effects of the economy which your patronages have plans to patronise you but due to the hard earning economy everyone is cutting its coat according to its size and not as you who never thought of what tomorrow would be because there was an overflow of finances on your side.
Also could be an effect of environment where there could be more competitive or relocation of your customers. So you can as well insight a survey of change of environment would have a successful change to you.

Do not feel depressed over any of the circumstances rather each and every of the circumstances should be an energymatic aspirations to inspire your ability to gear up to more effectiveness and never give up to your hustles.
Once a payday had a payoff and there still come opportunities for a rollover.

OP's experience is the same as most other people's experiences after being young and having an income that makes us generous in everything and also able to fulfill what we want. Because it is a moment where a young person is given an unexpected income to be able to learn, share and enjoy, which is actually only for a moment and will be a lesson for the future after the moment begins to fade.
There's no need to worry because everything will be fine, but this moment should be used as a valuable lesson and make you more mature.
And the most important thing is that you have done good and can also help your friends even though they are far away because of your changes, just ignore them. And there is no need to ask for opinions in this incident, because it has become a life journey that everyone goes through and learns from, which will make us more mature, better and also know better what is good and what is not. What is good and what is not, and what is important and what is not important and all of this is a process of life's journey to reach a level that we have to go through and face and make it a life lesson.

I think saving is enough, we don't need to live too frugally. Living frugally and being too strict with ourselves will make life more difficult and affect our health. The hardest thing is that we don't realize our problem, but in OP's case, he recognized his problem and it became easier to fix it. It's only when he doesn't recognize the problem that it's very difficult to fix.
Financial management is actually not too difficult, we just don't really want to do it, if we really want to save, there is nothing we cannot do.

It was an experience you had to learn from OP. Be thankful for those friends who still stick around in these hard times and for health and a good mindset to even think of starting afresh.
Life has happened and the way it happened to you is just to make you take a pause and reaccess the choices you have made so far.

Am glad you belong to this Bitcoin community where you are among the ambassadors of cryptocurrencies and am sure in no time, you would be able to get your life back with earnings or bounties or the best trading practice or the best way to save that would put more funds in your pocket, rather than take it away.

Agree to your assumption, this is a very valuable life lesson and it seems that everyone needs to experience something like this in his life, none other than because we can get better from the bitter experiences we have experienced, everything will definitely have a lesson, just like you experience failure in business, if there is no failure then you cannot develop further and will not be able to know what you should do if you are in such difficult conditions. That's right, never regret what you've done, it's what should happen and God will definitely test everyone through some problems, which God definitely gives a test according to the person's ability.

Life will always spin, that's the wheel of life, you won't always be on top, everything will go in turns. Whatever happens and whatever happens to you is nothing but something that will be able to make you better, the key is that you must remain grateful, it doesn't matter if you experience a little regret because it's natural, but on the other hand you must be able to make that experience the most valuable lesson, and yes that's right with that incident then you will know what you have to do next to be better and absolutely not repeat something in the form of a possibility that will make you fall in the same hole.

We all learn from our mistakes and nobody is above making mistakes. Now that you have encountered financial instability as a result of your past financial mismanagement, getting back up on your feet is not going to be easily. It will be very painful slow and steady process but if you stick with it, you will emerge a financial giant. My two cents here are 1- begin to spend wisely - you cannot spend wisely if you not have a spending plan which is what we call a budget. It is your financial blueprint. What is not in the budget shouldn't be considered unless it is a matter of life and death. Secondly, save for emergencies and exigencies. Whether we like it or not, there will always be stuff that will want to catch us off guard and it is our emergency savings that would come to our rescue at those unique times. I hope you get the time to read this and think about how to apply it to your life.

We pray that the situation will be much better because everyone has experienced the worst conditions in their life, but determination and enthusiasm will bring hope for us to keep going. We can also learn from this disaster that friends are not only when we are happy, but they are also present during the worst conditions we experience to provide support for us to get up and start over what we have lost. Now just focus on self-development to reach the stage of financial improvement and you need to see the potential of what you can do amidst the worst conditions you are experiencing.

However you have the choice to get back up to develop your existing potential and only you know that potential. Remember one thing if you feel tired of the conditions that are happening and if you have a family then do positive things to get up and never give up even though you have experienced failure. You will achieve financial stability if you have a thorough plan to start with and see what potential you can develop and I am sure you will rise again to start a new chapter.

Hi ! Nothing new, surprising or not natural you have described, this is how many people behave :)
And it's not a problem, the problem will be if you don't change your approaches. I explained to my son the interaction with money like this:
- consume wisely
- plan your income and expenses

What does it give and how does it help?
Intelligent consumption. More precisely, irrational consumption is one of the problems of our community. We often, very often buy a lot of things we don't need ! This applies to everything from food, to... appliances/cars. And in the latter case there is often an attempt to buy expensive things to "improve the image", which, believe me, does not improve the image, but only increases unnecessary costs. If a person wears torn sneakers, does not take care of himself, but he has the latest iPhone - it does not mean that he can be attributed to the wealthy class :)
Income and cost planning. This is very important for managing personal finances. Firstly, you can see your balance, secondly, you understand what you spend more money on, what is really necessary and where you can reduce unnecessary expenses. Thirdly, you can PLAN some financial operations

I think, you understand that your problem is your attitude, you started spending money in clubs and luxury fashion. There is nothing wrong with that but there is one exception, you have to move on this lifestyle when you have high net earnings and need to improve your social status in order to step up.
If you are poor and want to become a rich or at least perform well in your life, you have to forget fun, at least I had to or I would say, I never had fun. If you forget to think about having fun and dedicate yourself to improving your life, that includes more work, more discipline, more work on improving your personality, making yourself more charismatic and so on, then you'll succeed further. It takes time, it takes discipline, it will eat years of your life, you'll suffer in your 20s instead of having fun. You are supposed to have fun in your 20s, right? Forget it, suffer and focus on your life, you'll be on top in your 30s and so on.

I agree with you that money should be spent but it should be spent wisely, it should be spent in a sense that it's stupid to work years and save money because inflation eats it and in ten years, your $10 000 becomes $7000 but you always should have some money for emergency cases.

I'm guilty of pleasing people too. If I were to advise, savings helps a lot whether in crypto or irl.

I'm just as careless as you in regard to money, possibly worse, do not care to press sell button even if lot of money is lying in front of me, have made lot of such decisions and regret it a lot. Went through not much money phase few months ago, realized value of it yet lapse into old habit of not caring about it when there is flowing in plenty.

Changing our circle of friends can sometimes change our mindset. If we are friends with people who care about finances, how to budget and are also starting to invest, we will usually join in this, now it may seem too late for you because you are facing financial issues, but everything needs to be prepared, including preparing yourself when your finances start to stabilize so that you can maturely respond to how to use that money, and start thinking about investing and spending only on important things unless your finances can afford to buy luxury items.
Get into the habit of only spending the money you actually have, meaning never go into debt or use a credit card because you think you can pay it off in installments because if you get used to it then you will usually get caught up and experience financial difficulties again.

I agree with what you stated since there are some individuals who believe that having money will never run out and that you can be free from friends who aren't actually your friends but are only there to support you because they know you have a lot of money, but they also don't know that when you lose money. The unfortunate truth is that.

We have to avoid making the same mistakes we have in the past by learning from them. Prioritizing what is best for our families or ourselves and what will help us for the rest of our life is something we must learn to do. And live a strategic life at all times.

Op, thank God that there is life, mistake is inevitable but financial mismanagement is not something we can fix easily, life is a stage, some events happen for us to learn, and that's if we will learn, when you have money it becomes difficult for you to differentiate between bad and good friends because at this point everyone is your friend, they are after what you can offer to them not what they can give to you, this is the best time for you to prepare yourself for the next stage of your life, correct those things that can bring you down when you climb again, there are greater opportunities ahead, you have a good skill, you still have some contact left, try as much as possible to keep those client, believe in yourself, I know how this situation can be, but you will overcome it.

There is no need to blame yourself just for pleasing other people, because basically everyone also struggles to please themselves through whatever means, including by saving more money. So you don't need to feel guilty about your own actions because when you did those things in the past it was also based on your own desires.

This kind of thing is better known as waste that has not been changed regularly so that you experience regret when you don't have much money. And this should also be a valuable experience for yourself so that you can make changes so that you are no longer careless and wasteful when it comes to using money. Because the basic change is within each of us to change it, not from other people's suggestions that can be simply ignored.

If only you invested your money on assets that have long-term potential like bitcoin, some altcoins, real estate, stocks, etc. But it is what it is. Just stop thinking about the good stuff that you would've done to your money in the past. The most important is you are getting your own realizations OP. Admitting the mistakes you made in the past helps you close that chapter and start a new one.

You are not the only that is starting all over again. I am also in the same situation. We just have to be optimistic and find ways to keep the fire burning that will motivate us to strive harder.

It may be normal but I find it really annoying. It's also funny on how they became your brother instantly lol but in times where you need such brother, no one is out there to comfort or help you out. Maybe some investors are like that who bet based on the result or past movement of the price but I find it risky.

Not all times there will be a repeat on what we think a pattern. So, it's better if we also have a different approach when it comes to investing. The OP seems really down but you suggest him to enjoy? I think that's weird or he may find it as an insult. He realized his mistakes now and want to change for the better. I hope he can do it.

Hopefully, you will get a job and earning opportunities in the future. Money management is very important and should be taught in schools.
I am happy that you have realized your mistakes, and now you want to change your lifestyle and thinking process to get more savings. Realization is the first step, and now things will be easy for you as you will get many ideas to make your life better.

You can start by making a budget of your monthly expenses and your earnings. Your monthly expenses should include only the most basic things like bills, rentals, groceries etc. Do not buy luxurious items now, and try to save money. Invest some amount of your savings into stocks and Bitcoin. You should go for additional income sources.

If you think that you've fallen because of your poor financial management and decisions, start from there and get up and be better from those things for you to recover.

That's how you'll be able to defeat this session of your life and you'll just be a stronger and better person if you overcome those obstacles from those very reasons why you fell.

It's okay to start and go back to the basics, as long as you have air to breathe, there's hope and you can correct all your mistakes.

Our experiences teach us things that nothing else in the world can, so what you have been through have already made you more mature as I can sense it from what you've written and hopefully you will keep all what you have been through in mind for the rest of your life.

There are a few things that you need to learn, for sure. The very first one is financial management, you obviously need to learn and practice how you can effectively manage your finances so that you can live your life in a good way but have some savings as well for times that might be harsh on you. Another thing you need to learn is to observe and understand people, because from your story, I could understand that most of your friends have used you to the core and you kept being used without trying to escape those scenarios. So, you obviously need to be careful and more choosy when it comes to making friends.

Just do these things and you should be okay. There is no rocket science in that, all you need to do is do things more carefully and thinking twice before deciding on something whether it's making a purchase or giving money to someone.

I do know people with the mindset as same as yours and its not something unusual, its just they don't really care about their future which is wrong from a financial perspective. It is very important to have financial security which can be asset, gold, BTC or anything that we can liquidate if we need money for emergency need or no longer able to generate same amount as past.

Whatever you are, whatever the amount is, make sure to have a saving for the future. It is hard to have a saving account but with a little bit of strategy it can be achieved. When you have something in your mind and you want to get it so badly you will be able to save money for that purpose. To make up your mind on what you want to get in the future so badly and work to save money in order to achieve that.
Luxury is for billionaire people. Even the millionaires can't afford it. But the society has taken us to a point where we are so desperate for luxurious thing even we can't afford three meals a day. The society tend to fuck with our mind. And that's how billionaires and millionaires make more money out of ordinary people.

Make a strict budget on how much you are going to spend every day, every week and every month. Humans are slave off habit. You need to make it a habit and trust me it doesn't happen overnight. It will take time and you will face difficulties, but that doesn't mean you should stop. Keep on trying and it will happen eventually. Create a strategy and try to follow it no matter what. Start easy and as you move forward make it extreme. Once you get used to it, you will have the best thing in the world.

I'm sorry for the difficulties you are currently experiencing, I know it wasn't easy for you to get through it this far, from now on you must be able to only focus on yourself, never again want to be someone who wants to make other people happy, I've also experienced times like this when I was very young, my friends were close to me when I had money but when I had little money, they slowly left me, it was quite hard, but it's something that can't be helped. Avoid it, people only respect your money, not you in general. I don't have any other excessive advice, I just hope that when your finances start to improve, don't repeat the things you did in the past.

There is not much to say other than to do what you can to get a better job and learn how to manage your money, what is happening to you is very common, those that are young hardly think about the consequences of their actions or about any negative scenarios they may have to face, and when they finally have to go through one of those scenarios they are not ready for it, so do what you can to stabilize and improve your situation, and once you do then make sure you save as much money as you can, as that money will help you in the case you experiment a decrease on your income again.

we do have similar story, what I can only advise is to just keep on doing what you do best just focus on what you can do and time will come that you will realize you already have what you wanted without even noticing it.

If you have a Job right now, do good to it save even just a little extra of your money in bitcoin (as it is what I did wayback). it may not be a huge savings but atleast you have something that you can use.

F*ck the peope who consider you as a loser or whatsoever. they don't pay Your Bills. "FOCUS".

There are things in life on which you wont really be able to learn up something until you do experience it for yourself but doesnt necessarily that you would really be letting  yourself do comes into that point because as much as possible we should really be avoiding things something like this. Dont let those consequences would really be taken over on which you would really be needing to experience before you do learn. It is really just that common sense that money management would really be that so crucial or something that you would really be needing to have if you do like to sustain or survive your future. We know that there would really be no assurance for whatever jobs and projects that we do currently have considering that there's no such thing about being permanent into this world on which it would really be that so normal that you would really be that
saving up money because you dont know on when emergency time comes. This is why preparation and making yourself wary about those probabilities would really be saving up your ass in the end.

Everyone makes mistake and no matter where we are seeing ourselves due to the past errors we had made so far, we need to stand on our feet and take new decisions that would help us to retrace from our previous errors. Life is not about blaming ourselves for our wrong past lifestyle but about making new decisions that would effect our continuous living and debug anything that could bring us down.
Financial mistake happens oftens to young people and it is part of life that is why we need to rapports with older people to get their own opinions about how to fixed and prevent some certain mistakes in life.
 

Hy Man. Calm down, allow your brain to have some mental break, get some sleep and continue to do what you can do best but I will drop you some word of encouragement.

This life you see, it's all about ups and down. It's obvious you have always had it on the good side, your first time experience or tasting the worse part of life but know this today that life is about ups and down, even the rich also cry meaning they also undergo ups and down. The people you see display wealth and you see show that they are happy have one or two things they are also worrying about, that's life.

Stop hurting your self with inferiority complex and peer pressure of life, because you are doing well before and something happened that altered your life and everything falls before your eyes. Take care of yourself and work on yourself, only you can do it and I believe with time, you will find another route that will take you back to that place or even above where you have always been.

Sadly, you have to confront and learn about the unpleasant aspects of life, such as the fact that money should not be spent extravagantly in an attempt to impress people or win over new friends.

Everybody has mismanaged money at some point in their lives, but ultimately we all learned from it to use the money wisely and avoid throwing it away on pals in an attempt to win their respect. Because they will all leave you the moment the money is not forthcoming and also treat you as if you never existed.

Through your experience with money, I think you have learned your lesson that, money doesn't keep friends or grow on a particular tree if plucked all the time. An individual is supposed to have other trees than depending on one.

What I mean is that, if you have had other sources of income, even though your main business failed, you would have fallen back no other of your business.

Now that you're aware of how poorly you can manage your finances, I want you to do yourself a favor and attempt to hustle more rather than pay attention to what other people think of you. People are more interested in your success stories than in your self-pitying tales of terrible failure in having good financial management. 

this one is true, just disregard whatever negative energy that those people brought to you. those are just some irrelevant thing to our life, we better do something about our life make it better than hearing those negative things from some one that we don't even care about in the next 5 minutes.
financial management is of essence though, without it doesn't matter how many we earn, big fat chance it will be just gone in the next few days due irresponsible money management buying luxurious things that definitely could cause us to face hardship in the upcoming future where things getting worse and maybe potentially causes us to have no income at all.

There are many young people who have problems managing finances and this is influenced by several things we did when we were young. A wise saying once said that it is better to have made mistakes but in the end we learn to correct these mistakes slowly. All of us have had a much worse past, but how can we rise up to correct mistakes in the past to be better in the future, especially regarding finances as a runway for us to improve to be better than before.

Self-development, motivation, targets and what we pursue must have a plan because when something has a plan we have a road map to start with. Everyone has skills and if they are able to see these skills it will be easy for them to develop themselves. The problem is that many people don't try to explore their skills and prefer to give up on the reality of failure. This is human nature that needs to be changed if you want to be successful in the future.

Salute to you, OP! I actually admire that you had time to spend your money to yourself and generously share it to others. Yeah you made a mistake and its normal. Whats surprising is tht you are able to acknowledge the mistake you made and you are planning to work on it. Not everyone does that. Maybe just another thing that adds to your burden is how other people see you now that you are struggling financially. Dont mind them and continue doing your own thing. It takes courage to acknowledge your past mistakes and seek advice for a positive change. My advice would be to create a budget, prioritize essential expenses and save a portion of your income for emergencies and future goals. Developing a financial plan, setting realistic goals and seeking professional advice if needed can help you regain control of your finances. You might already be aware of all these, you just have to continue doing it and take things little by little. Remember, learning from your past experiences can guide you toward a more secure financial future. :)

Don't worry buddy. It's a part of our life, a lifelong lesson which can change your life. And it's not just you who is facing this kind of problems. Many of us does. From your story, I can imagine that you had a good earning in the past but now facing a financial crisis. You never had your chance to experience poverty or any kind of that things. You always lived life on your own term. And there is nothing wrong with that.

But now that you are crossing this phase of life, you should take lessons from. You now realized who is what, who loved you for yourself and who loved you for your money. Who genuinely cared for you. That's one of the precious thing that money can't buy. Money comes and goes but real people doesn't. Although you are having a bad time, you shouldn't be sad about this. Instead you should consider as a "Blessing in Disguise"… ;)

Open your eyes and ears, get a grasp of the situation and move on. Good times, bad times they are all a learning process. Try to learn from that. Use your money accordingly to your needs but not desire. Don't overspend on unnecessary things that you don't need. Be thoughtful when spending. Have an account of your earnings, spending and savings. Make a good money management plan.

I can relate to your story, because I have been in that position and it is very sad when I remember it. But I don't want to discuss my story here because what you need is support from people to get through this. There is nothing I can say other than cheers for you. Remember that in your life there are still people who need your presence - parents, siblings, or other people you care about, they all still need you. You must be able to fight for them, especially for yourself. It's true that now it's quite hard for you to get through the days, but still remember that gold before it becomes jewelry is beaten and hammered with heat, and if you can get through this ordeal I'm sure you can become a better person. Keep your enthusiasm and keep praying if you are a religious person.

Going through your story I can also feel your pain. Take heart op. It is not really easy to have money before and not have it again. Someone will always be depressed when the money is not there anymore. It is not always easy to know how to manage money. If someone is not well-versed in how to manage money, the more money comes, the more someone will spend it because they will always believe that is the way the money will continue coming.

We must learn certain things in this life before we can grasp them. I think you've gained some experience now, and you know how to invest your money rather than squander it when you get the chance to earn more in the future. And as for your friends that are away from you that is human being for us, it only a few that always remember the past.not a lie that people get closer to you when you have what they want but away from you when they see you have not that anymore especially in aspects of money.some people can do anything for you when you have the money just to get closer to you and you think may think it true love but they are just showing the love for what you have.

Does the song "Nobody Knows You When You're Down and Out" by Eric Clapton relate to what you experience?
Things can be that messy when sometimes you show you made a lot of money and then friends wanna party with you and then soon when you have nothing they are also gone. You are not the only person who committed such mistake. the story has been told a million times in the past.

But come that you realize this, you will remind yourself all the time to never again. If possible you find a job while you also keep investing the money you have and show the world you can make it.

That is precisely when you can see who are your real friends, and in the case of the OP it seems he lost most of the people that he considered to be close, and while this may seem depressing since you realize how lonely you truly are, at the same time this allows you to not waste any time on those people and concentrate on the ones that truly appreciate you, while at the same time this lesson will allow him to not make this mistake again and stay away from those that only want you for what you can give to them.

Two things came to my mind after reading OP's story.
The first one was of my friend who is in a similar situation. He bought an apartment but can't find money to furnish it, so he ends up paying rent for it while not living in it, which makes his finances even worse.
Why can't he move? Because he spends all the money he earns every month. He has loans to pay, buys expensive stuff like motorcycles, clothes, eats out... He's a spender and he's never going to save up enough money to remodel the apartment.
The second thought is about OP's friends. When your friends leave you because you have less money, they were never your friends. It's good that they taught you this lesson before you lend them money, or before you started a business with them.

You literally bit more than you could chew my friend, by living a lifestyle far more than what you could afford over a long run, because one of the biggest mistake you made was that while planning for the known, you failed to plan for the unknown, and of today you now paying the price of living a lavished lifestyle trying to impress people who never cared about your well being.
So it's good to know that you finally discovered your mistake, and known who your true friends are during this period of hardship (i.e those who never ran away). And as such, I will like to advise that from today henceforth strive to inculcate the habit of savings the little you can afford too each time you earn a little sum of money, as you never can tell what could happen in the next few minutes.

This is not a problem from your upbringing, in my opinion, just that you view it in the wrong way. Money is not spent as you see, and normally money is earned to be spent, but we should spend it wisely. Sometimes we don’t get anything we want, and that is natural for humans, which you fail to understand from the beginning. We won’t get anything we want, so I think that is where you got it wrong. However, normally, if we see what we like, we need to buy it, but we should first look at our way of earning. We should spend money wherever we find it. We should have a plan for everything we do. I hope this has taught you a lesson. I believe you will spend wisely now, as no condition is permanent.

Money management might really that sounds really that too basic but this is something that cant really be done by most people specially on the time that they arent on a tough situation or really that struggling on which they would really be that definitely wont really be minding about on the things that they are currently dealing with on which as long they do have the money then this is what mattering the most. They would really be buying and doing all the things that they do have in mind without considering on saving up on trying out to fix up things or prioritize on something that could bring up more income but instead they would really be sticking into those
things which brings up leisure.

Its not really that bad on spending up some money with those things as long everything would really be that in moderation.You cant really that make yourself to be having that stability to last forever
on which considering that there's always those times that you would experience problems and if you havent made out some savings or financial back up then it would be simply
telling you that "Youre fucked up".  8)

In a war situation, when your army is so thinly spread that you can't defend every line, the logical move would be a planned retreat. That way, you gather all your army back, and yes you are "losing" ground but you are actually getting a bigger compact army together, so when the enemy attacks, you will be able to defend better and when they start to lose more, you press and this time you do not spread thingly, but do a berzerk attack towards the center line and go as further as you can to their heart line. This is what you should do financially, go back to what you are earning with your spending, cut down every single thing, and start to work very hard on finding new customers, even putting up flyers on the streets if you have to, call every single person you know, ask if they or anyone they know need your help, find other jobs outside of your current job as a side income, and keep spending very very little until you earn more, and when you earn more, stop spending it all, and start putting that money back into business to grow, so you can earn even more.

That is just it. Most of the time, people that stick around you are there because of what you have, and I know if you lose it, they will definitely leave you. Although you have already encountered the situation, a wise man says that “if you want to be successful in life, you should avoid too many friends." Looking at this, having many friends can make you not think about your finances because they will show you that they are always with you and make you not calculate your expenses.
So the only advice I can give you is to have a budget based on your income. If possible, the budget should be lower than your income so that you can save enough to recover your former financial status so that you can plan a good life and also reduce bad friends. If not, you will still go back to your previous life.

You would have put yourself in other after the demised of your client. And also you would have looked into your business capital to see if it could sustain the business and it was not them you would have changed business to another business that you would have done better. Those are so.e the business strategies. You don't have to stick to one business when you discovered it was not doing well again as the beginning.

I will advise you to divide your business idea into two so that if one side goes down then you use the other one to support it. This thing that happened to you is not a new thing to business people. And they have been over coming to the challenges. Just sit up and pick courage face the reality.

I think it is much better to say that choosing friends wisely is one of the critical factors of success in life.  If we become friends with knowledgeable and successful people, their habits will influence us.  Befriending with leeches will only cause us expenses.


Much better if he saved first before budgeting for expenses.  This way savings are already secured and he will make the remaining funds adjusted accordingly.


I think he need to expand his network of people.  Maybe @OP became relaxed and stopped looking for new clients because that client had his income covered.  There is no need to change business but the need to look for new client is badly needed.  @OP is doing good with his business and I feel that he is comfortable executing the offered service, changing business will probably give him more negative outcome than just looking for a new client.

Anyways, it is beautiful that you want to improve your financial management and plan for a more stable and responsible future. One suggestion would be to consider developing a budget that aligns with your current income and expenses. To create a clear picture of your financial situation and allocate your resources more effectively, start by tracking your expenses and identifying areas where you can cut or make adjustments. Also, you should set some financial goals for yourself, it could be saving a certain percentage of your income each month, which can provide a sense of purpose and direction.

Yes, he can start from budgeting and see himself if he's going to improve with a week trial. There are a lot of free budgeting apps that he can find on playstore but of course download only the ones that has good reviews and gazillions of downloads and has a good star rating.
Do this consistently for a month and definitely he'd see the difference of a former him and into a new him that knows how to budget and check his finances once in a while. This is actually a good start.

We learn in our own stories, either one way or the other but if you think that people left you because you have nothing again, then that should be in the past, growing back shouldn't be an achievement to show them that you made it back but a fulfillments that you think having money could put things together but human being will disappoint you at anytime, make back the money that makes you happy but never to make same mistake by using money to impress people, another set will come around and when you encounter another mistake again, they will leave you when you need them the most, foundation of love and friendship should never have anything to do with money.

If I have millions today in excess, the first people that I will impress is my family because blood is thicker than anything else, even if after investing or spent all my money on my family and we had a misunderstanding, we will surely come back together sometimes because that's what family is all about. Your parents, siblings will look out after you in difficult situations but some friends and foes will abandoned you in a tight spot.

 This is well said mate, they’re no shame in start afresh instead of pondering on your mistakes, look at the errors made, create a more better blue print , re-strategize on the processes to be followed and ensure that these processes are followed rightly. Life is full of imperfections, so don’t always expect perfections. Do not neglect optimism as well because without it, there’d be no zeal in following the new process. At the point of planning towards a goal, there should be plan A, B, C and more as you please; this is because the errors won’t always stop occurring so it’s more like you’re proactive to it just to see yourself prepared for it’s coming.
   There are certain factors as well that play some roles in influencing these plans and goals either positively or negatively. Factors like finance, timing, economic stability and environment. Using business and marketing goals as an instance, finance is essential because there’d  always be a need for capital or miscellaneous expenses. So while making plans and goals, weigh your income and then use the outcome to know the level of plan to make. Timing is essential too, your goals may either be short or long term depending on your personal decisions but whatever decision you make, let it be in line with a time that’s favorable to you just to avoid you being pressured.
The last two factors, economic stability and environment kind of work hand in hand. A buoyant GDP of a country means that the market view is majored while a poor GDP means the opposite. Therefore, in your planning , do your best to take crucial note of the GDP as it’ll help in the positive outcome of the marketing plan. Also, the environment you may find yourself at that moment also has effect on your zeal too. In all, consideration of factors and being relentless makes for positive growth.

Being aware is already an advantage and is a good thing to start with. Planning would be easier if one knows his boundaries and limitations rather than to just engage with things his financial capacity won’t be able to cover. It’ll depend on this factor. Next is knowing where to engage yourself with in order to increase your daily or monthly income.Start with the things you can offer to a company or other people to earn money from them. You’d only lose once you chose to give up and stop; remember that. Think of how you started and how you made it to your ‘peak’ and for sure you’d recover as well. Acceptance of what happened will also help than to be burried with regrets. Move forward people.

Everyone makes mistakes. The main thing is not to repeat them again. Now you, taught by bitter experience, will certainly not allow your mistake to be repeated. And also, your story will serve as a valuable lesson for others (most likely not, because few people perceive other people’s experience).

But the money you spent was not subject to inflation. :) In fact, it is correct that money should be “spent”, but not on expensive clothes and other rubbish, but on investment instruments. Like gold, securities, bitcoin, real estate, and even art or antiques. Depending on income level.

This is called wastefulness. Now you have recovered from this, judging by the further content of your post.

You have professional skills and experience, so why aren't you using it to the fullest?

And don't ever forget. Let this remain a reminder of the mistakes of youth.

So start taking action. Don't wait. Since you are on this forum, you are at the beginning of these changes.

Awareness of the problem is already half the solution to this problem. Now you are ready to learn financial management, but the paradox is that you don’t have these finances now, and when you did, there was no desire to learn it. It's a little funny.

Don't despair. Keep working and learn financial management skills at the same time. The one who walks will master the road.

Management will always be the best thing and has an important role in every human life and also yes this will be able to balance so that your planning can be maintained properly, of course it is very appropriate advice, however we should always be able to allocate a budget that is balanced with the income we get, do not overdo it in terms of allocating because some impacts can occur as a result of decisions that are not based on proper consideration.

Yes that's right, one of the steps that can be done is to track allocations that should not be needed, we must be able to distinguish something that is really needed for the benefit of our lives with something that is only temporary and not really needed, or I mean desires that are not really needed. That's a pretty good adjustment so that we can keep a balance between expenses and income. And besides that if indeed they have a little more budget than the rest of their living needs then yes a pretty good alternative that can be chosen is to save or allocate the money to invest, you can do it consistently if indeed the financial situation continues to support, just think of it as your savings fund for future provision. It is better that way than you use the money for things that you don't really need.

Most of the time, you don't need a budgeting app, however, if the OP thinks that it will assist him into this goal,
then by all means, he should try using one of this apps. There are so many free anyway these days.
But to start, he needs to itemize his basic expenses maybe for a day, then for a month (bills).
When he sees the list, that's when he can tell where he can cut off some of his expenses.
Then, if he wants to buy something, think twice at least. And ask himself why he is buying such item, it is want or a must?

As this has been an habit now, and now we have seen that changing a habit is quite difficult for a person but you can change that habit for another habit, as if you have a habit of spending more money on things which are sometimes useless but you like them, you can change this habit by investing this money in trading, as before that you had invested money, we call it an investment but that was also on the useless things. And now its an opportunity to invest in useful cryptocurrency.

Also, you have to look for your bad habit and in this way you can change it for another one. This is just the psychological things I have seen from other users.

Management is a good idea, more especially if the person does not have a good source of living, he/she should be more disciplined when it comes to spending funds. If the thing he/she is planning to purchase can not add any meaningful thing to his/her life, the person shouldn't buy it.
It is good to spend our money, but we should spend money in a good way, such as planning before spending so that we do not run low on funds when we need them most. However, it is hard to save money without discipline. I.e, if one is an alcoholic addict and the person is disciplined, he or she might be able to control him or her self, so I am trying to say, one should know when he or she is over spending (especially if the person doesn't have a job).

If you dont have that plans onto your life then you would be just like this or someone who would really be ending up on a disaster on which if you dont really set up those goals or targets and just simply trying out to live your life as if there's no tomorrow on which it would be leading up with that kind of spending which it musnt really be that to be done in the first place.This is why having those financial back up plans would really be always that recommended or as much as possible you should really be that making businesses or whatever that brings your income or profit.

Always set back up plans because there's no such thing about guarantees that tomorrow would really be still a sunny day on which knowing that there are really things
or moments in life on which it is really that too hard in terms of financial or some emergencies on which you would really be finding out the relevance on having
that savings or back up funds would really be that crucial specially into this time. This is why you should really be that wise and sensible on how you should really be
dealing up with things or else then you do end up on a disaster.

The OP's experience is not uncommon with youthful exuberance, where you spend all the money that you have because you feel that the money source will replenish itself tomorrow. Not knowing that the only thing constant is change, and that source can cease. I'm glad that you are able to see the recklessness in that kind of habit and you're ready to make amends and to start on a new level. You'd be surprised that some homeless people and bergers were once financially stable, but due to wrong choices and lack of financial education, has kept them in their destitute conditions.

My advice is that it's very important to have financial education, to guide your expenditures, because without it, you might fall back on reckless spendings. I'll summarize the basic principles of financial education that works for me, maybe you can learn something from it.

1, make a list and prioritize the things that you need not things that you want  for the week or month, this will help you to be focused on spending on things that are important to you.
2, have a budget for this needs and try not to exceed the budget.
3, discipline, this is the core of it, if you don't discipline your self to follow number one and two, then you might find yourself coming back to financial recklessness.

It's ok to add enjoying yourself in the priority list, but it shouldn't be further down the list, also remember to have the discipline not to exceed the percentage of money that you have budgeted for the enjoyment.

Everything is a learning and sure you'll be able to make a comeback. Earlier you hadn't practiced money management, this time make it a practice yourself. You can experience the difference and the same will give better understanding on what is essential and where you need to limit your spending. Based on the opening statement it is clear that OP had spent big money unwantedly. Now onwards he should focus on savings, and it'll be easy for him. Because, even in the past he had spent much for his friends and now he doesn't have much of friends. Automatically he can concentrate well on savings. It isn't too late realising the surrounding, but it is an opportunity to correct yourself.

Let's say you are going through a fairly tough test, but remember that there is no test that humans cannot overcome.  Let the past pass, you have to be a new person in your life, don't let the mistakes you made when you still had a lot of money, you repeat again in the future, our time is really limited, be the best version of yourself.

right, there are no friendships that last forever, people come and go, they only stay when they have interests, love your parents, never think about things in different ways.

First of all, I hope things get better for you soon. To start addressing what you can improve, the most important aspects are self-control and money management. From what you've mentioned, I'm getting the vibe that you're a person who wants to spend money; the more you have, the more you spend, which is the wrong mentality to have for a variety of reasons. Some of which are limited or no savings for emergencies, no investment capabilities, and no real net worth. Thus, you need to improve your self-control and avoid spending every penny you receive. Put some aside for the future.
This is some solid advice; however, I'll tell you to start simple: no budgeting whatsoever; cut unnecessary expenses; do you need luxurious clothes? Probably not. Going to clubs and wasting all your money there? I don't think so. Think deeply about what you truly desire. From how I see things, based on what you described, you're someone who wants to feel desired, appear to have a social life, and so on. However, I'm sensing that there's a deeper reason for your behavior. Try to limit these habits, and if I were you, I'd be more cautious around my friends, as they can be taking advantage of your generosity, something that is unfortunately quite common.

That's why we literally need to think of our future since everything is not permanent like for your source of income. It's good that you are managing your finances now cause your learned from your mistake, your own experience would help you to grow and be matured enough to handle things like financially by limiting yourself from your own desire and focus on investing for your future. Just take your time, some people took so long to recover from their losses as they trying to recover and finding a good start. There's actually nothing wrong with fulfilling your wants and desires which motivates us in life, just limit your money and always have emergency fund as well investment money, you can do DCA method cause you won't need to start with super huge capital.

Yes, I said that. And I came to understand that change is constant. As my belief towards money has entirely changed. I now understand that if a person's experience doesn't change someone's view or perspective on things, then the experiences of others will.

You have made a valid point. Yesterday, I was with a friend, and we had a lot of discussion during which I shared some personal things with him. He related very well, and he gave me some advice on how he was able to break free from his own financial difficulties. It was helpful, but I will consider seeking advice from a financial advisor. Not because I want to change my perspective on money because i have already doen that, but because I want to learn how to make good financial plans and make effective use of money in business and in other aspects of life.

He's already aware on how to earn well and he's from there and that's why it won't be a mystery and problem for him anymore on where and how to start. The problem lies on him is how to manage his finances but it humbled him down when he's shooked because of his bad habits.

It's a good start when he's completely zero knowledge about how to budget. I have seen people that uses some apps to help themselves deal with daily expenses and budgeting. Good for you if you don't need that but for some cases and people they have to use one to be guided.

You are going through a bad time and hopefully you will be able to bounce back with your work skills. But saving money is a difficult task that is not easy for everyone. Earning money is easier than saving money. You might not have had such a situation if you had regularly deposited the rest of your income except your expenses. We all know that if we spend more than we earn then the deficit that will be created will never be filled. At some stage we will find that we are in debt. We should save even a little of what we earn, and reduce our spending propensity, we should accumulate money. Because accidents can happen at any time. Also, you may not get money from the people you are helping in times of need. It is always best to rely on yourself and walk on your own strength.

All of us must have management plans for our financial aspect and we must also have our way to gather for the future ,  like me ?

          - Gathering 100 dollar, I must only spend 50-60 dollars and the remaining will be for the future , either in banks or in crypto or even in Business.

          - Not giving my Family luxury things instead I am teaching them to learn how to value money , to only spend what has given to them.

          - Never take a Loan with Interest because this is a hard obligation that sometimes will bring us to making wrong management.


those are mine , and hope will help OP to have Idea what to do better.

OP, I understand from reading your story that you are currently in financial trouble. One's life does not always go well, sometimes one has to go through bad times. This is due to some wrong decisions, if you had saved some money for your future instead of spending a lot of money beforehand, you would not have been in such a financial crisis. Don't be disappointed, keep working patiently and soon everything will be back to normal. OP I noticed one more thing after reading your story, when you had money you had many friends by your side. But you are in danger and your friends are not there. However try to spend less than you earn. Don't spend all the money, keep saving some money for your future well-being. If you want you can invest some amount from your income in Bitcoin following DCA method, which will help you financially in future.

No one can tell when death and change will come. There is a proverb - don't be afraid of the clouds, remember that the sun is peeking out from behind the clouds.  Many world famous people have failed in their first attempt but the pain of failure does not deter anyone. Forget the past and focus on yourself first, don't care what others think about you. I've noticed that the forum has given a lot of great guidance. You can follow the instructions from there. Be diligent, develop the mindset to get up when you fall suddenly to keep the pace of life going. So prepare yourself humanly, set a goal in life and take slow and resolve to move forward. Success is staring at you.

    Financial struggles can affect ones state of mind and even cause them to make rash decisions on themselves. Everyone is trying their best to live through this storm of life, setbacks unendingly will arise in the process, they tend to make you feel disgusted and disappointed. Sometimes you may feel like you've exhausted all your options and steps to take but you just have to try harder. Be relentless, don't be ashamed of mistakes, mistakes would always be made but in the process of life, there's always room for corrections.
   Every new day, one wakes up to new challenges with a whole new different method to jumping through it. A timid and scared mind won't be able to face it, surviving is all about the depth of our toughness, its randomly said that there's no joy anywhere, everybody's eyes are red and anyone that loose guard or go off the track will have to face the consequences. Do well to have with you as many strategies to overcoming life as you can because they'll so much be handy in the shortest possible time.

Sorry to hear about the tough times that you had. iT happens to everyone at least once in their lifetime. People do make mistakes when they forget about the "reality". But it's great that you're looking to change yourself and turn things around in your life. Its always a good thing to realize and accept your mistakes. You know about your financial situations much better than us. So it is you who should take those decisions but I can suggest you some "normal" stuffs. You should start budgetting. Set aside money for things you must need like rent, food, and savings. Anything left can be your 'fun money' that you can use to enjoy. Remember, savings first and then comes the fun money. Don't forget about the emergency funds too. They aren't the same as savings. About the impulse buying, always ask yourself if you really needed it and what you could do with that money instead of buying something that you wouldn't need.

I agree with you because I observed that the most thing we spend money on in our daily lives is food, food is the number one expensive item in our lives because we must feed ourselves, and most people who have not married consider cook as a waste of time but if you calculate the money they spend daily in buy food is very huge, but if they decided to use that money to cook it will last for two days. if there is no money we tend to manage ourselves but when money comes we spend it anyhow, if we can control our feeding that will have a positive impact on our savings.


Normally we do have friends but friends increase or decrease depending on the level of our income, as for me I always believe that true friends are those who are with you when you have nothing. in this life, we just have to be careful when choosing a friend matter our financial status, money is a guest that doesn't come alone but comes with so many things, like a change of character. when we are getting money will always look above us and that is the number one problem we face, we forget the friends we have from the past and make friends with rich people and forget about old friends.

Some people think that using a scale of preference is made for poor people who have no money to cover their needs, but they got it wrong because if the rich decide not to use it they will end up losing their money, control of our spending is for both poor and rich people.

When we are young we often lack the foresight to be able to properly handle our finances. There's nothing that can be done to recover what you have lost due to irresponsibility but you can take the lessons learned to adequately manage your future income. It's happened to me before and for a long period I was unable to earn very much.

It can take a while to bounce back but what has worked for me was completely cutting off most expenses aside from the bare minimum needed to live. I like to keep detailed information of how much money I have saved up and if it starts to get too low then I will look for an area to cut spending from.

I believe that you still have many good opportunities to develop yourself and achieve the goals you want. Perhaps your previous luck has run out, and your life has become unbalanced, causing you to pay the price for your current situation in your personal finances and social relationships. I always hope everyone will always be positive in life, and that the difficult things of the present should just be seen as a challenge to conquer. Moreover, in your case, you have certain skills that make it easy for you to start over from now on, it's just a matter of whether you accept to let go of everything that has passed and start a new journey. I myself am not very successful in life, but the value I seek is happiness, which I feel is created by myself and not dependent on anyone. Maybe our preconceived notions keep us stuck with material attachments when before you may have had plenty, but in reality, money should only be seen as a connecting tool.

I think that if you have no responsibility of home then you have no concept of saving and making your financial system stable because you don't realize that how to earn money and how to spend it. BUT once you become a responsible person of a family then you will know about the Importance of saving as well as reduce spending on those materials which are not much important for life.

Regression occurs at any stage of life therefore we should teach our children earlier that they will have responsibility in future so if they learn well early they will do better otherwise they will have difficulties in carrying out a job as a responsible person. As you described about handling of family expenses same should be done by each individual because there is no possibility that a person will live always without any responsibility.

Consider what has happened in the past as the most valuable experience in your life. I think the majority of young people who have above average income will take the same attitude as you, they choose to enjoy it instead of saving to achieve financial freedom in the future. A lifestyle that is classified as extravagant or always wanting to have something that one likes or desires is caused by not having responsibilities in one's life such as paying for the children/wife's life and household needs.

Now that conditions are starting to change a little, just think of what you are experiencing now as an early warning to change your lifestyle for the better. Learn all the lessons from the events you have experienced, at certain times you need to experience events like this to find out who are the true friends who always support you in good times and bad and who only take advantage of your economic condition and then leave you when your condition is in a pinch.

When I was in bad conditions 5 years ago that time my so called relatives never said that we are also there family member they never gave us importance while in family functions. But when slowly we start becoming financially stable, we purchase our own house and my siblings get into job including me that time they start giving importance to us that's why I learn lesson that if you are poor then there will be no relations in material world with anyone else. So earn money, save it and invest it where you are able to get money from money and never keep hope with anyone except money. money only have power to gives you everything in life from respect in society to love. There will be uncountable so called true friends when your pocket  is full.

Yes, as this will serve as a valuable lesson to anyone who thinks that there is nothing permanent in this world. Maybe you are earning a lot today, but someday, your current situation will be upside down. Know how to prioritize yourself and your future. Do an investment you can count on if there are any unexpected things to happen.

Nowadays, most of the young people have this kind of situation. Having fun and enjoying a lifestyle like it will be a permanent activity in their life. Thinking that the money they have spent will be earned again. And a situation where they don't even know how to say NO to someone who needs financial help.