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Author Topic: "10 Common Mistakes We make with MONEY"  (Read 878 times)
Silberman
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August 28, 2018, 09:02:21 PM
 #201

For anyone aspiring to be rich, this are the kind of mistakes you must avoid in life.
Even if you do not aspire to be rich, you must avoid those mistakes because those mistakes are going to add years that you will have to work in order to fix those mistakes, and what can be better than avoiding those mistakes in the first place and use that time to live your life as you see fit, unfortunately many people make many of those mistakes and ruin their life because of it.

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August 28, 2018, 10:33:15 PM
 #202

what you mentioned is very true and there are so many new traders who make this mistake, and hopefully this can help new traders to become good traders and get a lot of profits.
I think they are usually subjective on every issue. And most of the small details are not worth the attention. When it happens then know how important it is.

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August 29, 2018, 08:53:25 AM
 #203

I myself know of alot of people that commit mistake #3 by way of credit cards and loans. I mean i see my officemates swiping their cards left and right only to to drown in debt when the bill comes and begs people to loan them money promising they'll pay it back after the next paycheck or just getting another card to cover up the previous card.

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September 08, 2018, 10:50:52 AM
 #204

those hints are so correct that i've actually read them few times inside the row, it's far happening with me now not that regularly, so i am fantastically appreciating you developing those mind and they may be amazingly wise, and easy at the identical time.
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September 08, 2018, 11:20:18 AM
 #205

For the 6th error not everyone can be aware of their old age. Most people at a young age they don’t want to save but always shopping instead for contemporary things that have been viral in some social media for prestige. When they get old they regrets what they had spent when young is not valuable or useful for their old life.

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September 08, 2018, 11:39:06 AM
 #206

I agree with everything except this part:

Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.

Normally hard working people don't have time for learning about investment. If they are professionals in what they are doing, they receive good payment for their job, but it's very hard to become professionals in other fields like investment, for example, at the same time. I think for those people it's either spending or saving, but investing is not a good option for them.
Right, every hard worker is too busy with the job and there is no time to learn about investing. Hence these people believe that this will be profitable for them then they put all of the money for investment, and they’ll get money again in next month from the salary he got.

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September 12, 2018, 07:41:21 AM
 #207

If you let it happen then you cannot make more money with that money. So you need to keep investing in different places and try to make the best return available on the platform to make money.
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September 12, 2018, 09:59:57 AM
 #208

You just have to plan properly as to how you will pay back your debt and have a schedule or at least a back up plan in case the business goes wrong. Find an extra income then and do every thing you can to pay your interest. You may have a hard time at first but then you will be able to get through it with proper financial management.
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September 12, 2018, 04:04:03 PM
 #209

Making financial mistakes is very common with people. Maybe they should seek financial advice.
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September 14, 2018, 10:11:41 AM
 #210

I know a number of rich people and they all say the same thing: make sure that things you buy will be working for you. Like if you really want to buy an expensive car, make sure it's a rare, vintage model. Something that won't lose value over time. The worst thing you can do is buy a Ferrari that will cost a fortune to maintain and every paint scratch will make a dent in your wallet.
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September 14, 2018, 10:52:58 AM
 #211

Mistake 1: Never lend someone money you are not willing to loose. When you lend someone money, always assume you may never get it back. If you feel that after lending the money out you may not be able to survive with what is left with you, then simply don’t lend the person.

Mistake 2: Whenever you have the opportunity to meet a wealthy or an influential person, never you ask for money, but rather ask for ideas or ways which you can grow your own business. That will make you a more purposeful person.

Mistake 3: Never you spend money you haven’t received or expecting. In other words, do not buy anything on credit because Mr. A has promised you certain money, or that Mr. B will pay you the debt he owes you. It might make you to run into debts should the source fails to pay. I hope you understand this point.

Mistake 4: For proper saving, do not attempt to save what is left after spending, but rather spend what is left after saving. Like you already know, human wants are insatiable, as long as you have the money, you will always have something to buy. Also, never you keep any money you are not going to spend on short term handy or within easy reach. It is best to keep it safe away.

Mistake 5: Do not sign as a guarantor to anyone on financial matters unless you have enough or are willing to pay any misappropriation or money that may arise from the person’s misdeed. THIS IS VERY IMPORTANT. It can cause you problems.

Mistake 6: Do not consistently spend more than you earn or spend all that you earn. You may not have anything for the rainy days or at retirement.

Mistake 7: Do not spend more money on an item you can purchase same for less within the same neighborhood. It is not a wise spending.

Mistake 8: Never you borrow money that accrues interest to start a business. That will put you undue pressure as you will be working to service the debt and the accrued interest for a long period of time. It could be frustrating especially if things are not as perfect as you would have predicted.

Mistake 9: Do not starve your family or fail to take your child to the hospital SIMPLY because you want to save the money you have for the future. It might leave you in regrets.

Mistake 10: While it is good to save, it does not necessarily means you should save all the money you have. Learn to reinvest some so that it will yield more. It is like planting a seed or grain, nurturing and watering it to yield more fruits. This should be self-explanatory I think.

Which of these mistakes do you think people are guiltier of? Do you think there are other mistakes not included here? Please share your thoughts.


for me the common mistake is you spend it in a nonsense way or to manage it in everything that you dont need

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