Bitcoin Forum

For the longest time, I have been thinking about doing this. It seems like the right time is now. All of us have had good, bad, and ugly experiences with money. So now is a good time to offer your two cents worth of financial advice.

Ty question-  Based on your cumulative life experiences, can you share your best money advice with us?

I'd go first -  Stay out of debt as much as you can.

The best money advice I received when I was younger and just starting out was "spend less than you earn". I took it to heart and have lived it ever since.

It is easy advice to remember, but harder to put into practice. First of all, start by making a budget. Break down your income into categories to see where everything is going. Make sure to set aside some money for savings, and put that money in a separate account. Your choices will always be better if you plan ahead rather than simply reacting to every situation that comes your way.

Talking about financial advice is certainly quite difficult. Because definition questions are sufficient to meet personal needs and can manage them well, they cannot be categorized in the same container. So depending on who takes care of it, in my family, of course, I leave everything to my wife. So far he is the only good financial advisor and knows my needs.

Furthermore, if I may share according to experience, of course the most important thing is the fulfillment of basic needs (no more and no less, so "enough"). For example, we can stockpile food for a whole week (food, non-perishable drinks, coffee, and cigarettes). like it or not, it should be enough in a week and it is proven that I am satisfied with the management. Second, saving, whether it's cash savings in an account and of course in Bitcoin once every 2 weeks (my wife has allocated it every month, instead she prefers to save in Bitcoin she says in Bitcoin she can control and monitor her movements at any time).

Keep in mind that this is my experience, so far everything is working fine, and effectively and no issues at all. But back to each other's needs, and how simple it is for you to live your daily life. The point is not to be rah-rah, there is no need to show who we are in front of other people because the most important thing is to be prosperous according to the portion, reduce the vacation schedule at least once a month, and of course be financially stable (at least have a basic salary).

Your advice is good but I will probably be a little bit more specific, I would probably say stay away from bad debt completely and use good debt sporadically, but what is good debt and bad debt? Bad debt is simply debt you get for useless consumption, like buying a TV on credit or similar as with the interests you will pay that TV two or three times over, good debt is for example getting a mortgage to buy a house as very few people have the money needed to buy a house with cash and it is something you can leave to your loved ones once you pass away.

My experience with money is If you want to grow your money then don't leave it in the banks. Invest your money and make it work for you this is the best way of becoming rich, you can make money round the clock while you are sleeping only if you do the right kind of investment and allow people to manage it. This is about growing your money and it requires you not to spend money unnecessarily.

Doing extravagant expenditure is not a good money management skill. Back sometime ago some people I knew felt that when you spend money that it will increase more but this is just faith and faith without work is failure. So I believe in working hard and diversifying your source of income. You need to build wealth channels so that you don't go back to dark days of financial lack, this is important.

Having debt will limit you to save and invest, so this is also my first advice to everyone.
Second is, always play on a budget and don’t over budget. Having a limited source of funds will challenge you on how you will handle your finances, so if you can’t make any budget then tendency you will buy things that you don’t actually need and many are experiencing this right now. If you want to succeed on handling your finances, you must know how to budget.

if investing part of regular income.
do-not's:
- dont skip your bills.
- dont skip eating basic diet
- dont use fiat credit card

do's:
+ use spare excess cash (the stuff you waste on luxuries)
+ skip a luxury meal occasionally.
   + it just becomes toilet flush(waste) 6 hours later anyway
   + but still eat normal food

if investing part of life savings.
do-not's:(these also apply to the regular income group)
-  dont use more then you are prepared to lose
-  dont throw it all into one order at the moment its has deposited.
-  dont set a time limit and X multiplier you want
   -  dont set expectations too high
   -  dont set exit time too short
-  dont invest then leave it sitting in a services control
   -  dont put all of your investment in to be left in a service

do's:
+ use only amounts you expect to lose
+ only leave in a service daily if you are going to trade daily
   + only leave a % of investment to play with daily
   + as you accumulate take some out to store in self-owned-key
+ store most value outside of a service/custodian

as for trading strategy
buying:
+ keep 50% as a backup/fiat reserve
   + look at the recent price changes
      + see if you are buying on a high or low of recent price
      + buy low

selling:
+ keep 50% as a backup/coin reserve
   + look at the recent price changes
      + see if you are selling on a high or low of recent price
      + sell high

now heres another thing
after the initial buy/sell
if after the buy the price goes down. you have remaining fiat to buy more and take that opportunity

if after the sell the price goes up. you have remaining coin to sell more and take that opportunity

eventuually you end up keeping reservers of both and only playing with a subset amount per order. thus always able to take secondary advantages of price swings on both sides no matter the price direction

in short
if you sold and the price went up.. your not stuck unable to accumulate more fiat,

if you bought and the price went down.. your not stuck unable to accumulate more coin

keeping a balance spare on both sides for a correction or pump. of extremes. means you can accumulate both more fiat and coin on both sides. and have double profits on both sides as you accumulate both sides

to work out how much reserves to keep for extrema.. look at the ATH vs todays price

if the price is 20% of ATH have 20% fiat 80% coin
if the opposite, do the opposite.

Another big and major advice is that you should not act like you have when you do not have, that is, don't act rich when you are broke. You should not be ashamed to say you cannot afford something out of embarrassment. Another major reason why you should not act rich when you are broke, is so that people that intend to help you, will not look at you like you do not need help because of your act, when you truly do. I have met persons that their situation needs helping, but they are still too proud or not true enough to themselves to act sincerely, instead they keep telling lies and acting okay, truth is, nobody will force help on you, before someone can help you, you have to help yourself by accepting that you need help.

first, clear your debt then spend within your means, don't look for luxury if you can't afford it.
 also, if you have small spare funds, invest in some tangible assets like gold jewelry, precious metals and others. you can already buy small assets as investments. because if you accumulate those assets, before you know it, it is already significant investments that you can turn into something big like real-estate. be frugal, don't buy things that you don't need.

Yesterday's seed is today's tree; The trees of today will be the forests of tomorrow. all about is making right decisions. The right decision  not making that decision when its needed is about having vision and foresight it! You can consider this sentences irrelevant but it's relevant. When we are young we are all thinking about living your life with fancy clothes, parties, alcohol etc etc. But when its comes to being adult then bowl start to boiling with invoices, taxes, insurance etc. Therefore everyone has to start for thinking their future needs and make plans and investment on it.

I haven't received advice, but got suggestion. The suggestion was really good and for some reason I wasn't able to follow the suggestion. The suggestion was to invest into bitcoin as much possible, since the price was around $500.

On blank understanding about the market I gave advice for my sister to invest into bitcoin. She missed the opportunity and later realised, because the growth between bitcoin and gold over that time period had a big difference.

Avoid lending huge amounts of money to a friend.  It will not only lose you money but friend as well.
Avoid installment payments.  It is better to have the item paid in full it will give you a huge discount as well as save you from huge interest.
Apply the 50/30/20 rule (https://www.investopedia.com/ask/answers/022916/what-502030-budget-rule.asp#:~:text=Key%20Takeaways,else%20that%20you%20might%20want.)

That's pretty good advice because debt actually makes us worse off, even though sometimes there are some great people who say that we can't grow without a loan, but I personally am not too calm when I do that. There are some things that are very difficult to control when we have fallen into this because if we can get past the debt that has been cleared up, we will add more and more loans to bigger ones.
I personally try to stay away from this as much as I can because I really feel this is better for myself because of the principle that I emphasize for myself as long as I can live comfortably without having to owe it, why am I doing this.

Personally, I would advice to never spend more than your income. Save a lot and spend some. Just buy what is necessary and take away all those who are not. That way, you will never be drown into a heavy debt, plus you will save a lot. I might not be doing well in my finances today because of some wrong decisions, but at least I’ve learned now. It’s best to just save and invest some of it for additional income.

Never buy something you cannot buy 10 time 'coz you'd end up broke. I saw this a couple of times, some people will forcefully buy something which is somehow a form of impulsive buying. Anither related thing is being too festive which is evident in the culture of my country. Every birdthdays of someone, they'd arrange a table and invite many people in particular with neighbors. They would spend almost whole month's salary on a single day just to amuse their neighbors and end up nothing much for the next day. Like the idea is good which is to celebrate but if one aims to impress, that makes it nonsense 'coz people will just walk passed you after that like nothing happened.

Whenever I receive my salary, I divide them and set a certain amount on how I am going to spend it. I pay my bills on time, have my personal savings, and also have my spare money which I use to reward myself or buy anything I want. I save 20-30% of my money and invest it, and never ever touch it not unless it's an emergency. Another thing with spending, before buying something think about it 10x if ever you will be satisfied with it. Do not spend more than what you earn. Buy things because you need them, not to impress others.

Try your best in increasing your income — either by doing better with your gig/business, or by looking for other income sources.

Yes, saving money is great, but saving in itself would do much if your income is stagnant(also take inflation into consideration). Also, I don't like cutting off things I enjoy doing just to have more savings (though of course always be wise with your spending, and don't overdo your 'wants').

Delayed gratification - is one of the thing which I learnt from my personal experience which made be to avoid lot of expenses and buy the things what I really need not that I want.

Liability and assets - Most people confuses with this concept for example they consider buying house is an asset while actually it's not unless it gives rental income.

Multiple source of income - for working class people its almost impossible that is why they trapped into the middle class forever so try to get other source of income as well while working as full time so you can earn more and invest the excess to produce returns.


Debt is good but for rich people so they really understand concept of debt, they have money in their bank account but take loan instead of using the money from their bank account incase if their investment is failure they can able to pay back.

I couldn't buy the things that we needed for our home in cash, which is why I needed to get a loan or pay them in installments, making it difficult to stay out of debt.
 
For me, it is always good to have a savings account or save some of your money for emergencies and future purposes since we really don't know when we will need it, and it doesn't matter if you start small as long as you just saved money.

It is here where savings come in handy.  If you are able to pay for the installment, then for sure you are able to save money and pay the item in full once you have accumulated enough money.  Unless it is an emergency need.  But I understand that if you have an existing debt, it is somehow hard to exit from it especially when your earnings are just enough for the family's basic needs.  The only solution for this is to find an extra income that will offset the interest on the debt and earn a bit more for savings.

I can share a couple of them. They are all somewhat related to yours. And I live them all, including your advice, or so I believe.

• Keep a simple life. One doesn't have to show off. One doesn't have to be ostentatious to gain respect or admiration. Wearing the same affordable yet comfortable shirt, pants, shoes in different occasions is not a problem. And it will save you a good deal of money. It doesn't make you less of a human if your wear the same clothes during your friend's wedding and your niece's 1st birthday.
• Live according to your means. In other words, just buy what you can afford. There's no need to borrow money or use your credit card just to get what you want.

My first advice is don't see life as  competition by not looking at anyone to live your life, in terms of what A has, B wants to also have it,this will make you not contented with what you have and will make you spend more than your income and will lead you into debt.

Secondly, don't stand as a surety for anyone who wants to get a loan from anyone or a bank because,down here in my country if the person that collected the loan can not meet up to the date of paying back,or they don't want to pay back,they will run away and you will be arrested until you accept to pay up the debt. This is the worst of all,I almost became a victim but thank God for my wife and my mom who was adviced me, told me about how the outcome will look like. This my friend saw that I didn't fall for it,he travelled and I have not seen him till today.

My financial advice is to set aside some money and not use it unless you are pressed for it. That means you have to save some money to prepare for your future or if you have urgent needs so that it doesn't interfere with your daily expenses.

Never go into debt if you feel you can't or have difficulty paying off that debt. Live simply and don't try to overspend even if you can afford to.

You just can't seem to get over it the way you want to, with numerous individuals offering valid advice that will benefit you in the financial sphere of your life. Someone once said that if you earn your money via hard work and sweat, you'll learn to spend it wisely better than if you were given it as a gift and never worked for it. But it happened to me, and it was the opposite of what I was told.

In general, how you manage your money and your mindset toward spending rather than multiplying or investing it will decide how long it will survive in your hands. I've heard so many pieces of financial advice that I can't remember them all, and they're all good, you just go for the one that works best for you. One of them I admire is not to collect debt in order to get away from another debt.

One piece of advice is - start buying stocks for the long term dividend income instead of short term day trading. There is so much to learn in the area of business and analyzing how they run that you will never run out of new thoughts. You might start by finding the earliest Berkshire Hathaway shareholder meetings hosted on youtube and just listen along to them describing how their business works, along with how it developed over time year by year. If you truly want to be free and independent you need to learn how to get your money making more money over time, owning shares in companies is the way all the richest people in the world sustain their wealth and get richer every single day.

If I had to give some advice about money it would be never to let others know exactly how much money you make or how much money you have, not matter it is much or almost nothing. I have learnt that keeping that information private is rather an advantage and helps to avoid unpleasant situations.

I can also advice the get a bit out one's way to find better alternatives to withdraw from exchanges at minimum price, for example: Withdrawing BTC from Binance can cost over 10$, but withdrawing Monero is only 2 cents, so I go through a bridge from Monero to Bitcoin which costs about 1$, in the end I save 90% of the fee (9$).

Talking about finances is usually directly related to the needs of living everyday life from getting up early and getting up early again. Identifying needs is very important for managing finances well so you can manage expenses well. Therefore we have categories of primary, secondary and tertiary needs which are physical and spiritual.
Dividing your money into several categories such as basic needs, investments, cash funds and emergency funds is highly recommended for those of you who want to have healthy finances.


Why do so many people hate debt? I think this is done by people who use their money for consumption or subsistence, so they are forced to pay off debts without producing anything.
Let's say you are an entrepreneur, when you have a very significant increase in demand, productivity must be increased because to meet customer demand, and you will find it difficult to increase production if you only rely on income from the money you rotate. Of course, you have to borrow to increase your capital and expand your business so that you can meet market needs and have a bigger cash flow.

Debt will be negative for consumptive people and debt will be positive for productive people because productive people will use it to attract other money.

One of the most important thing in life on which you should really consider out or trying out your best to be not shackled by debt because it would really be not a good way of living or something that could put you in peace since you do know that you do have lots of things which you do need for it to be paid up.

I do have that bitter experience which I'm trying out to solve but due to some other priorities that I could hardly clear it up.

The best thing for me into now is never make yourself tolerate on making up bad decisions and don't make yourself rush up whenever you do see some possible income making or money making opportunities.Dont make yourself that impulsive or else you do know on what would happen.

First I think it’s important to know how to identify liabilities and assets. It’s best to spend money on essentials and assets, reduce excessive spending on clothes, outings and trivial things to impress people. If you’re a salary earner, I’d spilt my salary into three parts, the bigger chunk would go into savings about 70% after taxes,  expenses 20% and 10% for emergencies. The 70% will be spilt into reasonable investments to make some profits.

You are right, I would say that staying out of debt is among the most important money advices I know of.
Another important advice is "spend less than you earn", and also, do not keep your money lying idle in the bank, most especially fiat currency which have been proven to keep loosing their value/purchasing power over time..
And also, it is very important to invest consciously and wisely, minimize risk at all cost.
This is not all it takes to be financially successful but I believe it is part of the ways to truly make the journey successful.

Do not invest in anything you don't have idea on how it works or something you cannot control. That is my worse financial mistake. Even when you use bitcoin as an example you will understand how newbies buy at buy market and panic to sell in Bear market. It is because they don't understand how the cryptocurrency market works.
Part of the money you want to invest, remove some percentage and give to someone to teach you about the investment. If it is a business you need to know the secrete of the business and have the skill of how it is run even if you will not handle it yourself.

Investment is not suppose to be what you put your all in. Reserve some incase if you lose what you invested you can come back with your reserve and that give experience to you. You don't need to invest without the necessary research and not to rely onto what your friend say to you to invest because of the profit but to invest in what you are comfortable with and have your passion for.

I know so many, some very simple, some more complicated.

The most obvious money advice is never do with others what you can do yourself. Don't share a business with associates if you can run it yourself.

Some other nice ones are:
Get bitcoin. If you can only invest 1% so be it. Make sure you have some bitcoin before you move forward and hold it.
Don't play with other people's money. Invest what's yours. Loans are also other's people's money. Borrowed money don't belong to you. Don't get into debt, buy what you can afford on your own.

Also, don't trust others with your money. Keep your hands clean and other people's hands out of your pockets.

The two most important rules for investment is that you do not risk investing more than you can lose and that you have an investment budget that you can control. This is in addition to some other tips through which you can support your investment position and raise the insurance on your investments. Let's take as an example some of them:
Investing in quality companies for the long term.
Don't give in to quick reactions.
Divide your money in the short term and the long term.
This and the investment process remains completely unsafe and carries a part of the risk that we seek through these steps to reduce as much as possible.

Live within your means, live frugally and that's it. Everything will start with that and you'll be responsible to think whether the things you want to buy are worth it or not.
Whenever you're living that way, you can afford the needs you need and you won't go more than the amount that you're earning. I guess everyone's good advice about money is going to be the best advice that we've got if apply it in our lives. Because we tell good advice yet we don't apply it to our lives and that means nothing.

I can not give advice for third world nations as I live in a first world nation.

1)Find a sex partner to live with.
Whether you are straight or gay living with a person lowers expenses.

2) Find out the sex your partner likes and if it is not oral sex leave that partner and find a new partner.
This is more for straights than gays since fucking makes kids and kids cost money in any civilized first world nation.

3) so now you are with a partner that likes  oral sex most. Practice practice practice practice.
Really cheap to do. Takes lots of time if you practice practice practice.

Now all of the above may seem like I am kidding ,but if you take it to heart 💜.

It lowers your blood pressure and saves you money.
Compare it to smoking a cigarette. In USA New York a pack of smokes is 10 bucks.

So if you and your lover smoke three packs a day that is 10000 usd a year.

Next buy a water filter. A tabletop reverse osmosis water filter is around 400 and filters cost 100

So 500 then 100 then 100 is 700 for 3 years. 233 a year. under 80 cents a day for pure water.

not the filth that comes from the tap. this alone is very good for health.

next is eat well. learn to cook 5 real meals that are as good as a restaurant.

I can do great omlets.
I can do great brisket.
I can do really good tomato sauce.
I make great roasted chicken.
I make great roasted turkey.
Also make both the chicken and the turkey into soup.
I make nice lamb roasts.
great shredded pork.
dead solid almond crust pizza for low carb treat.
All of the above is made in healthy manner. All of the above is better than most restaurant food for taste.

it all saves money.

Bang out credit card like a mother fucker. but only when they offer a deal.
I have spent a million dollars on credit cards since 1986.
I have spent about 30 in interest on them since 1986.
I have earned over 2 percent on that million in points.
about 20000 dollars.

Due to the inflation, if you're still able and can do side hustles do it. And don't keep most of your money in the bank because it will lessen the purchase value over the years. As much as you can, find an investment or asset that you understand and keep your wealth there so that your money will work for you. It may seem simple but it's going to require you a lot of sacrifice and delayed gratification before you attain the benefits of it as we you grow older.

One piece of financial advice I've been given thus far is to not spend more than you make.
Keep in mind to save money when you achieve your life goals.
Never indulge in extravagant spending. However, if you run a profitable firm.

Nothing in life is constant. If not used properly, wealth can go in the blink of an eye. Spend less and put money away for the future by making the correct bitcoin investments.

You know what is the only thing consistent in this world? TIME- better invest while you still have the time in this world. The moment you start investing your money, it accumulates profit overtime and as you mature your money also increases. By the time you reach the age of retirement, all of your investments would reap and you would be able to enjoy your retirement without any financial difficulties on you.

That is why, maximize your investments and profit while you still have the time. Diversify and maximize every opportunity in order to get the most out of everything.

No one wants to be in debt, that's for sure, but sometimes life gets too hard and there's no way to deal with it, and many people have to take out a loan. I myself have had the experience of borrowing and having difficulty repaying the loan but that's life, it's not perfect as we expect. My advice is similar, limit borrowing to a minimum because it will make you more stuck, more pressured.

Borrowing is also the same as having debt even though it must be repaid little by little according to the rules at the time of borrowing. Debt and borrowing actually have the same pressure because in the end they both have to be repaid. And my advice to you and also to everyone on this occasion is to work at two different jobs so that you can manage your finances or income in life.

For example, the income from the first job, you can use it for everyday life and the income at the second job, you can save it as savings for old age or savings for when you are sick. Or when you can't work for a week because there are more important matters.

Agree. I don't borrow money and i'm proud that I have no debt at this point of my life.

Well, i'm living in a poor country but somehow I can say that i'm not struggling in financial difficulties because I never stop working to earn money. I have a real job and business aside from my investment in crypto. What I can advice is, keep on working to maximize your earnings. Save money for the future and set aside the money for emergency. Get insurance if you can and invest on what you think is profitable.

Well said. I think your salary is good enough because you can be able to set aside for saving, investing and leisure time ( you know gambling, beer, cigs, stuffs like that ) what was your work anyway? Sorry to ask this but I only got curious. Once you invest, you should not touch it not even for emergency purposes because you already have your personal savings. That is the one that you will use.

I do not think I have a best money advice to share here because I feel that I am struggling financially. Salary from work is small and then I also have debts to pay. Can't help but to take a loan only to survive. I hope I can still be able to change this life I have right now.

Currently, I am also working 2 jobs and my income is also more stable without having to borrow as before. Although we are in an economic crisis, many people are having a hard time, but I am doing my job very well. I also advise people to just work harder every day, work while everyone is sleeping, then we will achieve certain successes.

If trying to get out of debt, or if I'm on the verge of bankruptcy, there's no good financial advice. The only thing you can do is to work hard, because you don't have the capital to invest. But if you find that your assets are depreciating under the influence of the economic crisis and the epidemic, you can try various investments. My suggestion is to prepare to buy Bitcoin and ETH. The current market is still in a bear market, all you have to do is wait for the bull market.

No single one is the best, and you don't have to think of anything too sophisticated. However, if I had to choose one, I would say spend less than you earn. The moment you become interested in personal finance, it leads to a series of further consequences. At first people think about saving, cutting expenses, but over time you end up having new ideas and striving to increase income as well. So what happens to someone who controls expenses, increases income and is financially savvy? Very easily, he gets richer.

I would give the following financial advice - focus on your financial flows.  

People excel in the activities they focus on.

Developing your professional skills and abilities is very important. Equally important, however, is financial order.

You need to keep a daily record of your income and expenses, as well as receive additional education in the field of personal finance management.  Many people ignore these rules.  Wages are not the only source of income.  

The more different types of income (including investment income) a person has, the more stable his financial position.

I agree with you because by going into debt, our burden will be greater in paying the money back. And yes, before we borrow money, we must first calculate the amount of money so it won't be a burden for us to pay it back. But sometimes, people borrow more than they can afford, which gets them in trouble. But strangely, they can always pay their debts even with difficulty. We should not follow what that person is doing because our lives will be different from theirs.

Someone mentioned on here that the best way to stay out of debt is to not be in debt. I think it was the op though.. back to my point. In the world were we find ourselves, inflation being the ruler as it were, most peeps would want to live up to a certain lifestyle which their salaries and earnings can't permit and as such end being in debt.
 But all these can be avoided if only one is a bit content and cut expenses as much as he can afford.

 What helps me save is I view myself as broke and unable to afford things I see that could warrant I spend unnecessarily since I've got a target to reach and so far that has helped.

We have to open up opportunities for other jobs from free time without disturbing the main work, during the technological era we can get other alternative income from crypto investments or study publishers for adsense income or other jobs according to your talent, so one important thing financial advice is to avoid loans and strive for alternative income to be allocated for future savings.

This is what I'm currently doing, utilizing my two-wheeled vehicle to do a side job delivering food orders ordered through the application that I do after work. And I was just waiting at home when there was an order notification I immediately rushed.
and I will use the results for my daily needs, because I have used my salary to invest and also save regularly every month.
I use 40% of my Hajj proceeds for investment, 20% for savings, and 20% to pay for electricity and so on, and the rest for storage and for daily needs and also fuel, and another 20% for my parents.
because previously I had a side job that I mentioned above, even though I had managed my money as well as possible there must have been a drawback, even though in my opinion that was more than enough, and there's nothing wrong with filling my spare time with a side job.
And what do I do so that I don't get involved with loans and also don't interfere with my investment, and I only use my savings when there is an urgent need and also don't interfere with my investment.

Interest and obligation will make you stop from what you're thinking about and where you are about to spend your money.

There's this belief that whenever you're in debt and if you have no plans of paying it, you're life with be stuck forever until you talk and pay back the debt.

I also got debts but I'm doing all my best to pay them and clear it. Because it's not just the debt that's feeling heavy but also the thought in my mind that having much debt is going to be on my shoulders forever. That's why it's important to clear and pay all the debts.

I am not rich and no expert in money management, but I made some good investments over the years that have helped me a lot to finance some of my dreams. The best advice I can give up anybody who is trying to build a portfolio is Diversification. Don't place a your eggs in one basket is the best phrase that I kept in my mind over all these years. Investing and trading always a form of randomness that can't be controlled. Even the best investor is not going to be right 100% with his trades. With that in mind it's best to split our money into multiple investments. Like that we increase our chances to pick good investments while decreasing our overall volatility. Lower volatility means lower risk to lose large sums of money. The more different investments we have the higher the chance that some will perform well when there is a general market downturn.

In investing, diversification is a very important thing, I hope people don't ignore it. But I need to be more clear, diversification means investing in many different sectors, not investing in many products in one area. Like we invest in cryptocurrencies, many people mistakenly believe that to reduce risk, it is better to invest in bitcoin and altcoins. They forget that once bitcoin drops in price, no altcoins can rise, so diversification won't work. Diversification is that we should not invest all of our assets in cryptocurrencies but invest in other areas such as gold or real estate.

I'm happy because now I can have some property assets that I rent, I got it from investocurrencies and I can get big profits in 2017, now I rented the property and can meet the daily and monthly needs, but I suggest not to invest House, because the value of the house is difficult to rise, it's better to invest in a garden or rice field because in my experience it can rise 50% in 5 years.

Then I'd agree with your advice because I had been doing the same thing ever since. No debts at all. If there's a need for money that would not fit in my budget then me and my wife will decide to just pawn our gold for low interest rates.
It's still not debt because it's our asset and we could decide to just sell it instead if we cannot afford to get it back.

Be wise about spending the money especially in the market. Wet or dry. If you don't need it, don't buy it. Don't pile foods that have short life. i.e. fruits and vegetables. Just make the effort to go back and forth buying something for the day. Use bicycle as transportation to save more, it would do you good for a bit of exercise.

Houses are more suitable to be bought for rent to people who need a house or to those who don't have their own house to live in. Because it is clear that house prices are a little more difficult to increase because the current house building model always differs every year so prices also vary and it is difficult to get an increase because the price competition is also different. But if you buy it for rent, I think it will be more profitable because the house will always be taken care of and the owner will always get money every month or even every year.

The best I can give is to not think of the money you don't have and plan anything with it. Many times, I've done this unknowingly and I ended up screwing my entire budget and was left needing to take some debt from my friends. Since then, any money I am expecting to receive, I do not take into account unless I personally have full control over it. Not really something that is vital or extremely important but still something that can be helpful when you're trying to make it out financially and trying to grow from the ground up.

In addition to staying away from debt, we should also limit and better never lend money to anyone, especially our loved ones. Lending money to others also comes with a lot of risks, in addition to losing that money, what I find more frightening is that we will also lose brotherhood and friends when relationships involve money. I had a bad experience lending money to my friend and then I lost money with him when I tried to get back the money I lent him.

Being on debt is actually what makes people go wild usually. Sure, you will think that having more money is good and you think you can repay it but in reality we don't know what would happen next and sometimes your investment or anything you do would not run as expected which makes the loaned money goes to waste. Being haunted with debt because of our failure is really dangerous and I would not recommend to loan for investment if you don't have anything as collateral or have a primary income to repay it incase something bad happens.

Do not get caught up in the "fear of missing out" aka FOMO.

Applies to Bitcoin as well. You should take a gamble on something if you're doing it our of impulse. Naive investors will feel the need to participate in whatever short term lucrative financial plot even if it means sacrificing their principles out of concern they'll miss the boat. And sometimes they might even try to catch a knife falling down by seizing on an opportunity that's past its prime.

That is a big big mistake that I did for the past 3-4 months. I had some money, not a lot but some money and I planned on buying some stuff, like PC for myself and some stuff for my wife, but between hospital bills, and buying some stuff for the house because old ones broke down, I ended up in big debt again.

Not a big deal for me, because I can just spread it into months and pay it, but I believed I would recover by now and still failed, it's okay though, life is fair and good, I am happy about my life and everything is nice, I have seen much worse years, so it's fine. But that means I won't be able to invest for a long time, I will just pay my debt.

Sometimes debt can save your wealth from burning up. You should always be careful about how much you are going to borrow. That should be lower than your total wealth because if something bad happens you can repay your debt by selling your wealth. Big corporations and businesses grow by taking loans. The big corporation even banks took loans from us to do their business. Debt is not always bad and it depends on what you are intending to do with your borrowed money if you are planning to buy a house or car it's certainly a bad idea.

Another piece of advice I want to add up is not to save your money in the bank. Invest and reinvest in stock, metal, real estate, crypto, etc. As long as your money is idle it's losing its value. So let your money work for you and grow itself.

One of the best things that you could do is to build a credit score with bank so that you could borrow a lot of money whenever you need it. Building a credit score would be beneficial if you are interested in borrowing money from the banks and then making sure that you pay it every time and use it, wisely that you could earn more from it.

Another thing is when you try and use credit cards, make sure that you’re gonna pay it in full every cut-off and statement.

This is good to get loan from bank but is it really the first level to build a finance? You will need lot of collateral for bank to grant the loan to you and this is not easy. Is not a starter way to financial freedom except that you have make the money already and connection now you can have trust with bank to grant some loan. The best for this kind of loan is to build house and land properties not for just feeding because the money is better use for investment so you have a source to repay.

There are many experiences worth sharing, but the best financial advice I can give would be as in the proverb: “Hide your white money for a black day.” This is a famous proverb in our country which means that when you have more money than you need on good days, you should save a Part of it for bad days.
This is what actually happened to me, when the market was bullish I got good profits and converted a good portion of them into gold, and now in this bearish market I found a good opportunity to resell gold and buy cryptocurrencies again at a low price.

Avoid all unnecessary expenses and just learn to live within your comfort. You don’t have to pretend that you are always able to buy this or that just because your friends have been telling you. Where in fact your finances are already struggling deep inside. So just live within your limits and you will never have to face financial problems later on. When you have that mindset, your finances will never be compromised and won’t never fall into unwanted debt.

If you have money, dont act like babies who dont plan or cares about tomorrow, they spend the entire money with them believing tomorrow will also comes in with it own opportunity to have money and spend more, but money is expected to keep in reserve, maintain the spendings, have a scale of preference and use the economic cost and money cost strategies in making purchases, invest with your money which will be your asset and avoid buying things that will take away money from you than earning you an income, know what you need and go after it than what you want, primary needs are different from secondary needs, I've also been a waster of money before not until i learnt my lesson the add way when there's no more money incoming in like before after I've wasted alot of resources.

We have to adapt our lifestyle to the economic limitations that we have without being affected by the lifestyle of other people, so we have to manage expenses according to the limits of funds for shopping needs every day without being related to debt. But another solution, I quoted the post above that we must prepare our savings for emergency fund needs, because in conditions of economic stress it is very difficult to apply for a loan from a bank or anyone unless we have assets to pawn.

yep, that's a good sentence but I still think otherwise, everyone has a different financial background, those who are born rich will never know what debt is but those who want to change their destiny from zero will definitely be forced into debt.

- OGDEN NASH once said - "Some debts are fun when you are acquiring them, but none are fun when you set about retiring them." meaning that debt is a good thing as long as you are able to pay it on time. so have a stable financial foundation first if you want to be in debt, keep learning debt management, especially those who are planning to grow their business.

Invest in your health and save some emergency funds first before you get to spend them all. Sometimes, when we are mostly concerned with paying our bills and budgeting for foods and services, we tend to forget to invest in our health. Note that health is wealth. If you will always make your health as your last option, believe me all your money will just go into your own medication, instead of using it for other productive means.

Everything should really be balanced on which you should not really make your health taken for granted because if your body will collapse then pretty sure that all of your savings that you are hard working for would

really just be wiped out so easily.This is why its ideal that you should really give prioritize into your health and balance in between investment so that you wont really be having problems.

Its true that people are really that thriving out their best to accumulate money which is understandable but if you do let set aside things like health then it would
really be a potential huge risk and problem on future years to come.

Never try to cover all of your loan, just the amount bank asks you to. I have this pet peeve when it comes to debt, so when I have credit card debt, loan debt, anything basically, even if 10 bucks to a friend and I mean it, it doesn't matter what it is, I need to cover it as a whole. As we all know, the life we live right now is not that easy to go through without ever making any debt, you can't just earn money and have zero debt, of course you will make a debt. I got a new PC on September I believe, and that alone is a HUGE debt to my (in turkey good PC's are insanely expensive due to high tax). So all in all, I just use ALL my money to pay my debt back, and fail to invest because of that, if I didn't, if I paid the minimum I had to instead of all of it, and put it on bitcoin, I would have been x100 times richer now.

Skip this part if you don't have enough assets for collateral because that's the very first thing you have to use when you loan in the bank.

So to work your way up you have to buy a physical asset that banks can be use for you as a collateral. It's a long way up if you don't have someone you know who knows how things work and you were just working your way up based on what you know. But if you want to be financially free then you have to work hard and stay away from debt no matter what if you aren't ready to or you can't pay it in full during the cut-off.

I have experienced a difficult condition with finance a few years ago, then I tried to find a debt but it didn't work and then I pawned a motorbike worth $ 600 and with that money I used to trade chili and managed to get a big profit, in our lives we must dare to take real steps and Don't think too much profit or loss.

Never increase the lifestyle when experiencing an increase in salary this is always a problem for young people and also most people, and never buy expensive items whose value drops very quickly and their use is not too important because later we will sell it at a very cheap price because of necessity, and always be disciplined to save because there will be important things that require and money quickly.

I agree with you!  

I was talking to a girl yesterday and she told me that she has 5 sources of income.  Income diversification is very important for financial stability.  I also agree with you that borrowing and credit should be avoided.  

The danger of loans lies in the fact that the borrower must give the lender not only the body of the loan, but also the accrued interest.  

Obtaining loans and credits leads to an increase in expenses, not income.  

There are exceptions to this rule, but they only confirm this rule.

What would you call buying a house for personal usage and avoid paying monthly or yearly rental fees? Is that a liability or an assets?
I definitely consider it an asset because I don't have to pay rental fees anymore, that money will be channel to other source of generating income. And don't forget the house value can also increase overtime depending on how developed the location becomes.

We don't need to increase our lifestyle if our financial needs are not sufficient because following a lifestyle has no limits, so it's better to have a simple lifestyle but have savings for the future. So the most important thing is that we can live life without heavy burdens even though we are not destined to be rich in life.

I agree with this because there are still many who are always stuck in this, especially for beginners who think that this is the easiest way to get money and when they think that they are always on the wrong path by following lots of fomo things those who exist in the hope that they can reap the maximum profit, even though if you look at the current conditions, this is precisely what becomes an easy target, because they forget that in such a case, even a slight loss of momentum will be a real loss for themselves.

Learn how companies and the stock market work. I learned this lesson far later than necessary, but it is a huge eye opener to how people get rich. I'm not on about chasing the latest high growth fad company and trying to quadruple your money overnight, but slowly building a solid portfolio of shares over time that will pay out money in the form of profits every single year. Instead of leaving your finances to the whims of whatever banks are paying at the moment, put it into a mixture of companies that will pay you back part of their profits every year and make sure your money is getting reinvested all the time to buy more shares and decent companies will also give you a "payrise" in the form of extra profits each year as well. It's a huge field to learn and you'll be learning more every day.

for those wanting to start a business and do the capitalist game

first you have to work out your costs and lifestyle amount (the break even amount)

then work out how much reach you want to fulfil. this means do you only want to service a neighbourhood, town, state, a country or the world

then work out how much $ per order that equates to of that reach..
and then find a service or product that satisfies that market reach(demand)

EG say you want/need only $50k of income and have $30k of costs($80k total break even)
but you only want to service your town of 360k population

thats obviously a 25c from everyone a year in your town or $1 for just 25% of population a year or $80 if you only service 1000 (3 customers a day)

work out how many orders you can handle per year. (time and execution)

work out what products/services are easy to sell that can capture the 1000 customers or 25% or 100% of town population

dont just find a product first and try to push or harass it onto customers thinking you can get paid by just throwing more advertising at people.

instead work out how much customer base you need to satisfy and find a product/services that fills that satisfaction

alot of people think opening up a coffee shop will get them income because other coffee shops are already doing it which proves the concept. but just buying a cafe at a cost=needing to raise your base order price per customer to cover cost.. you also are just saturating a existing market and diluting yourself down of possible customers because they may not want to come to yours as they are loyal to another business

offering a coffee where you get just 25cents a cup just once a year from everyone and can out compete on price of the other cafe's sold in your town can mean the difference of trying to spend $400k on a snazzy new building where you then have to get $1.25 of excess coffee cup price just to break even

so dont think product first customers second.. think reach of customers first then product second

then. when you know you can fulfill more then 1000 orders of anything a year. you can then start looking into expanding costs to get a good location, product quality, and recognition after.

EG selling kiosk coffee for $1 where you get 25cents can earn you more than trying to have a snazzy cafe fitted out with grand design where you need to sell for $4+ a coffee to cover costs

I will relate it with the biggest collapse that has happened for this year and tha's with the FTX. So, my advice would be - if it's not your money, never touch it and don't use it for your personal interest.

Well, this happens in real life when someone borrows money from you and lend it to them and they've said it is for emergency but later on, you've found out that it's used for other things like a vice or so.

Also, if it's not your actual money like a friend or siblings or parents money that has been entrusted to you. Do not ever use it for anything as if it's yours.

This is based on experience.

It could be applied whether on personal life experience or business type of experience which money that you dont own which it would really be that common sense that you shouldnt really make use of it since its not yours in the first place.How much more if you have a business which is really that attached of huge money or you are really needing peoples trust? Once you've been known or been busted up then
say goodbye into your business as this would really be making that huge mess and trust that had been put up would poof out like instant.

This is why its never been recommendable that you leave up your coins or assets on a centralized platform.You dont know on whats on the mind with those owners or operators which
you cant really assure the security or safety of your funds.Come to mind that its never been recommendable since from the start but people
do really always a fan on doing such stuff.

I got my best and most important advice from my girlfriend a few years ago, she said me "Just after you got your income or the money your worked for it, first take some part of the money for investing and do not touch and then you are free to spend the rest of your money" in the other words, we should spend what we don't need for investing, while other people do the opposite and they spend all their money and always complain that they have no money for investing, that's the reason of we see many people without of investments. That's not because of having a low income that's because of spending too much.

Sometimes, it’s hard to control yourself from not using it especially if you have been struggling in your own finances. So while there is money entrusted to you either for keeping or saving it, you become tempted to use it for your own advantage. This is very wrong especially if you can’t be able to pay it or provide the money when it will be needed. That is why others end up borrowing money to replace the amount they have used, and gradually fall them into a heavy debt unknowingly.

This is actually a wise advice since the price of gold at the present is also increasing so you can still make profits from it if you invest a portion of it rather than investing them all in bitcoin. I have been buying gold before, but when I started bitcoin investment, I eventually sell them all to add more capital in bitcoin. But i guess your strategy is quite more productive and profitable than mine so I have to take your advice and see it for myself.

That is mostly happening nowadays. When people gets promoted from their jobs and receive a bigger income, they also try to level up their lifestyle and eventually increase their expenses, even spending more than their income. This is from my own experience, and I’m not happy with it anymore since i’m drown now into more debt compared before. Always live a simple lifestyle instead, that way you can save a lot from your own income and benefit from it in the future.

Money offers security. In simplest terms, you feel better when you save more money. The scariest evil I have ever seen is the shortage of money. Your level of confidence is quantified by the money saved.

My worst experience was overspending when the channel of getting money was open until the blocking caught me off guard. It was hell having to even borrow from the people I used to lend money to, so I made a promise to myself to save more money the next time I have the opportunity.

"Save more and save your generation," I advise.

Don't spend more than you earn.

Don't care showing yourself off to people (ostentation).

Work hard, but work smartly.

Don't hold too much money: as soon as you accumulate a decent amount, invest it in something solid and reliable to protect what you have conquered so far. It can be a property, a durable good or bitcoin. Look for valuable, demanded and growing assets in your local area.

The best thing when we have an income is to always leave for investment, I like raising livestock and when I can leave a salary and then I buy chicken seeds and I keep it, initially only 50 then I am more gradual until it reaches 1500 tails in 6 months, of course there is something sold when It has reached 4 months, and until now I still raise and sell chicken meat, now I am able to pay house installments.

It's extraordinary, you run a very profitable business and also have time to think about investing to support a good future. Because not everyone can run a livestock business like you run, even though they can run investments like those run by them in general. And I think you will continue to get better development in life if your business continues smoothly without having any obstacles.

As I've said before, and I feel like a repeating parrot lol, as I licensed financial advisor I would just be very cautions of what people suggest to you.  The best way to manage money is by having three buckets. Bucket 1 is for short term savings: checking account, savings out.  Bucket 2 is for mid-range things such as a brokerage account.  Bucket 3 is where you have your retirement assets, 401k, pensions etc. 

Once you have all of your buckets taken care of, are on track for retirement, then if you have some left over money you might want to try a few higher risk/reward investments for your money, this is how people can end up hitting grand slams. 

There's nothing wrong with saving money for a better future, but that doesn't mean we should live too simply or too hard on ourselves. We work hard and finally, when we get a raise or better income, we can also reward ourselves after hard working days. We should enjoy it, but as long as we don't waste too much or fall asleep in the win, we continue to work harder and find ways to increase our income even more in the future. Don't be too frugal with yourself because we work to get there.

The best money advice in the current bearish scenario when fear of recession is gripping all financial markets is, to accumulate bitcoin on every dip, it will definitely outsmart all other class of assets in the long term, hence 60% of our portfolio should be invested in Bitcoin & Ethereum. In commodity market we should also make some investment in precious metals like Gold & silver to diversify our investment portfolio. DYOR

Rewarding our selves is also addictive since every month when we get our pay, we tend to reward ourselves and forget to save some money first. This also happened to me when I got my highest pay in my job: I rewarded myself every time I got paid, and later on I forgot to save. It's really better to save first before spending, but if we really need to reward ourselves to make us relax, let's do it just for a couple of months, and after that, we need to save for rainy days.

Do not be afraid to make mistakes, this is the best way to grow, people are stagnant in life because they are too afraid of making mistakes, they want the top notch advice that will set them up for life but that's impossible.

I found my own way the day I stop listening to people, I was anxious on every move thinking maybe I will fail? Maybe this won't favor me? Maybe this isn't the place I should be.

In the end I just zero my mind and took the bull by it's horn

I don't know what you mean by "help," but I don't agree with you one hundred percent. If you read or watch the stories of people who have achieved success, then they never allow themselves the thought that they have no money, or they should make people feel pity. A person must achieve everything himself and not depend on someone else; this is the first rule of successful people. Acting like a rich person is not about spending your money right and left. Rich people always know how to manage their money, and just thinking that I deserve it and have it or will have it has always worked positively.

It is experience that will give us good advice, and I think that advice from what many people say also comes from what they have experienced themselves. There are many kinds of theory that we can apply, but not everyone can practice all the existing theories about managing finances well. In the end, it is experience that gives us very broad insight into how to properly manage finances.
I agree with you, that don't ever think that you will take a wrong step, because that step will make us grow to become better people in managing our finances.

everyone has a way of managing their finances, and it can also be said that all are the same, but some are successful and some are not, everything will be in order if we are firmly committed to this finance, and this is my way

1: make a monthly budget from the largest to the various, (fixed funds that are definitely issued and have become a regular monthly budget)
2: always save for emergencies if there is a sudden need such as: sick
3. Avoid high interest and sustainable loans

and it is very important to avoid buying things that are not useful for everyday life, especially just for socialites,

Focus on your needs and not on your wants. These days, there are lots of things that are on trend that are tempting to buy so we need to be more disciplined and control our urge to spend on unnecessary things. As much as possible, we should also avoid borrowing money if it isn't for emergency reason. We better grind and earn to save and invest and make sure that we are maximizing our assets.

Scenarios of financial advice are always different, but you can see from other people how to manage it properly and what you need from the advice because basically everyone is different in giving advice on their own money.

I always want to increase my income especially this will cover all what is needed monthly and other needs are sufficient.
From what I earn of course I always manage to share in my expenses because this is important because otherwise the financial advice will not be correct

Monthly rent
Savings
Emergency fund
Stable investment
basic needs in the household and I don't recommend any loans because this is always avoided.

Apart from all that I have to be able to cover every month, this is only the income that I generate at work and also my small business so I have to be able to manage as much as possible.

I can't consider this as financial advise but I suggest to manage your money as best as you can. Don't put all your eggs in the same basket, Don't go all-in in something that are speculative and uncertain, in short don't put all your money on crypto knowing that tokens are very volatile. Diversify your funds like doing yourself an emergency funds, daily expense budget and other things that will disrupt your investment if bad things happened. I experienced this before last 2018 bear market where I did go all in on crypto without having emergency funds and reserve funds for my necessity. At the end, Most of my crypto where sold in at least a break even price and most of them are on loss. I've learned it and applied it today. Luckily I still haven't got any problem that I'm forced to use my emergency funds but I hope that day will not come. Today I still have some spare funds to invest as well as enough money to live and I haven't sold any of my asset as a lost.

Never took a loan for buying out your wants
Never took a loan for leisure time
Never took a loan if it isnt emergency

Dont make yourself to be having that debt problem.This is why you should really be wise on making up decisions basing on what you do only earn.
Dont live outside your means yet this one would really be causing up huge problems and could really mess up your entire life.
You should be wise on making up decisions or else you would face up problems.

We can't stop the others on keeping their coins in exchanges, it has become a thing these days and even how hard we try to remind them, there will always be those that won't listen.

As for the money that we don't own, we have no power over it and just think like that so that you won't get the idea of spending it even if it seems that you've been allowed to, just don't.

The temptation is there and just don't do it so that you won't face any problem because that will also affect you if ever you did it, mentally and that's more than it.

The best financial advise I got is from Robert Kiyosaki's best-selling book "Rich Dad Poor Dad". To be honest the book is a treasure trove of important financial wisdoms you must absorb and apply in your life but the one lesson that really resonated with me is when he said "Financial Education is your greatest asset". You will see people earning huge wads of cash and then blow it up the next day on things they don't even need. And there are some people who get by with a large savings from their regular 9-5. I do not need to tell you who's the more financial literate one and who'd idealistically end up with more money when they retire. That's basically the logic behind it. You need to be financially literate in order to know what to do with your money, because if you do not, you'd end up burning all the money you would earn and you'd end up not saving anything for when you can't work anymore.

And it is because they're trying to impress the people that surround them. It's not wise to buy things that you want because you just want to impress others.
We're living already in the present time and that's not a good attitude to have because it will make you stuck forever with that thinking of trying to impress other people and buying things that you don't even need. The idea starts from the trend and then the attention that it gives to everyone is like a desirable thing which I find not. Live your life and don't be that type of person because you only have to impress yourself.

If calculated then I only have a very less income from basic needs, I work as an employee who produces ceramics, unfortunately economic conditions make the company very difficult to sell ceramic products so many are stocking, sometimes we even have to receive ceramics instead of salary, and We sell it to friends or people who are building a house.

Investing is not gambling, you can’t just run away just thinking about making a fortune, it’s something you should persevere. High returns and high risks, there is no free lunch in the world, you must first assess your risk tolerance.

In the short term, you may lose money, but in the long run, you may make money. Don't blindly think of the windfall coins that other people have told you. Have your own plan, and don't invest more than your own budget.

If you're addicted, it's your fault because you don't have any plan for life. For me, to avoid getting addicted, I always have a plan for myself. Like when I get a raise or my savings goal is 10k, and I hit it, I reward myself and keep going to set a goal of 20k and will reward myself again...As I said, don't rest in victory but set yourself a higher goal each time we reach the previous one. Only then will we never get addicted and forget our duty.

How I wish all of us had this kind of behavior. I know it can be learned as long as you practice it, but I need some motivation to do this. That's a great idea, setting a goal for yourself before rewarding yourself, but I'm not sure if you're so stressed out at work that you want to reward yourself after you get your pay. I am that stressed that I need to take a break after my work (which is so stressful that I am having a mental breakdown, and I am planning to resign soon).

That's good advice, it's so logical really but very hard to do. So many of us are roped into
the financial system of availing of loans to buy things, some we don't necessarily need.


I think school falls short, or at least for me and my schoolmates, we were never taught
any financial education. That was reserved for the more academic students.

But it's true, Financial education is so important, everything we do has a financial aspect
or consequence.

The more stressed, the more we have to reward ourselves, we work for a better life, not try to torture ourselves. I don't know what kind of work you do that is so stressful, it's not good for your health in the long run. Reward yourself with rest days with family and friends after finishing work each week.

My work is also very stressful, and I often spend the first day of the week drinking with friends to relax before returning to work. Many people say that time is money and should not be wasted but if we only focus on the work, it can guarantee the quantity of work for you, but it does not ensure the quality of the work, then that will also become meaningless. So, don't neglect work but take time to take care of yourself and reward yourself with relaxing moments.

When it comes to money it is very important to be conscious how money is being spent, when one is not conscious how money is being spent it will be very difficult to save money for the future. It takes one to be discipline to save money.
Saving money help to start up projects without having much worries to start up projects.  It also important not to depend on loans because the interest in loans can be like the capital that was collected.

All activities are related to mentality, and psychologically people who are constantly under pressure because of demanding work tasks require that a person must be able to rest his mind with positive things. Let go of the burden for a moment, take the mood in various ways to gather with family, travel and activities that are positive. Ideally it is like that, but most people torture themselves to keep pushing work outside the schedule, working overtime and finally stress. The work is not complete, but the condition of the body becomes unhealthy.


Actually any job can be more fun if we like it.

It a remote work, but the client is rushing everything, and the work environment I have now is very toxic. Just imagine that you have a lot of workload same as your superior, but the same salary as the lower one that has a lower workload and has time to make a coffee. It is already Friday here, so I am planning to have a beer for this week, as it is a very stressful week for me. Thanks for reminding me to have a drink by the end of the week, lol

Yes, these are valid questions, and they deserve real answers. It should be a requirement, as important as reading and writing. While it can be true that ignorance is bliss, it is also true that financial education can't fix all of life's issues. However, it sure can help us get started on the right foot when it comes to money. And that, I believe, is worth its weight in gold.

Why there are people who cant just appreciate even with these things and trying out to say that they arent really that useful or something that relevant?

If we do look into different angle then it would really be still that needed and relevant for you to learn up, even though it might not or cant really be used most of the time but at least we do already have the idea
and knowledge into different things.
Personal experience would be always that in life which would be giving that never ending learning and we know that having more is much
better rather making yourself look dumb. hehe

Investment and gambling is of course a different thing, if we invest, of course it requires analysis and prediction whether it will go up or down, but if gambling then does not require any knowledge, only relying on feeling, in investment, of course it requires a lot of things like patient so that it can get profit.

When I was still at work I always recorded any expenses, I didn't want to take risks because I migrated and was far from my parents and it was impossible for me to ask for money again, I exercised strict expense control and was proven to be able to save money and of course I could help my parents.

I have been reading the comments of users here in the thread and I must say that I have learned so much.  One very crucial money saving point that I would like to add though it may sound like a contradiction is  budget at least 10% of your monthly income or money received from any business venture for charity or to give back. Psychologically, you feel good about it. On the financial side, it makes one become prudent with his money as it builds some financial discipline.

I also see gambling and investing as different things. Because when someone wants to invest, it is certain that he will choose the right asset and is also often liked by many people because such assets can make investors closer to luck if they have time to buy at a cheaper price. Whereas gambling absolutely relies on luck which basically is never close to someone because other people or our opponents in gambling are also risking the same thing to win.

Something I recently learned, and something that has been a trouble for me for a long time. Sometimes, you should not care and let go. I know this sounds like the worst type of "investment" idea out there in the whole world, and definitely not something that I support doing in excess. However, we deal with money problems for so long that, someone I care about so much had some health problems and I realized we do not have too much time in this world.

So, spending less and trying to earn more, all of that goes to garbage can some days. I realized, in order to have a bit of fun, you should spend carelessly for just a short period of time. What this does is prevent you from going crazy and stop all together, save for 11 months, go crazy for 1 month, and keep doing that every year so that you would have something to look forward to.

i agree

years ago.(when working, pre bitcoin days) i wasted money. on things like
fast food, clothing. (i used to just buy new socks/underwear instead of washing them)
it would cost me lets say £100 a week of waste money

i too would save up that £100 waste money. and once every 3 months have £1.2k where i would then buy something nice and not care

if i was on my old work pay .. but stop wasting £100 a week
 i would put in £350 a month into bitcoin
keep £50 a month and on december have £600 to just abuse on shopping for christmas and not care

Unfortunately almost all of the people at the top had someone they partnered with, and we do not have that. Sure Elon may look like he did it all by himself, but he was partnered with other people on his earlier startups, and he just took over tesla, didn't founded it. Or Jeff Bezos, who partnered with capital firm to get his first 250k to get started, in 90's that was good enough to buy maybe 10 houses in some places, obviously many people had 250k and didn't build amazon out of it, but still not alone.

Or Bill Gates and his high school friend he founded microsoft with or mark zuckerberg or all the people he first worked with. All alone is not possible, nobody has all the talent to build a company all by themselves.

I would advise that don't allow money stay domant in your hand. Just like the fields, cultivate it then plant and wait for harvest time else weeds will completely take over the field. Now this analogy is based on my personal experience with money this year. I remember coming back from national service this and my last payment in addition to some little savings was what I came back home with, I ended up keeping the money in my bank account and I was gradually withdrawing little by little to foot some bills without refilling only to wake up one morning after about three months later to realize I have emptied the account, cause I never invested the money buy left it dormant in my bank account and was just taking from it without investing it I to something that would have brought in some returns.

So my advise is: don't let money stay dormant with you.

If you are not satisfied with your current job, I advise you to reconsider because if you do not feel comfortable at work, it will not only be ineffective but also affect your health. If you are confident that you can find a better workplace with a better income, you should quit, but consider carefully because in this period of economic crisis, finding a new job is not easy.

It must be said that stress relief at the weekend with relatives and friends is essential for us, both to relieve our psychology and to bond emotionally with family members.

After being fooled and loosing so much money- I think one should be selfish
Now show other the money you have and try to avoid people who try to come close to you to get money. Save your money - don't spend on shoes and clothes and unnecessary thing - life is so unpredictable

Don't always say yes to your relatives and even your friends. Even how badly they need money but it all depends to the situation that they're in. I've seen people say that if it's between life and death then they might say yes. But if it's not that crucial at all, they'll still would say no.
That's the firm rule that I've seen for most people if it's about giving a hand to their friends or relatives because it's your money, you've worked hard for it and you just can't let it go when someone asks you too.

The temptation to buy at this time is very massive, if before before we present the application easily saves but now the mall is in hand, there is always an offer that looks good so that it makes us sometimes or is forced to buy, now is the time to eliminate all applications that are not Useful, or better use Nokia that has no internet access.

In my opinion to make our finances can improve is always tightening finances, if there are unexpected needs, then the thing we have to do is close or reduce routine things even for eating or consumption, many people use wasteful gas or electricity stoves even though there is a lot of firewood So the easy thing to reduce gas or electricity spending is to use firewood.