Solution to risk and money insecurities

[CryptocurencyKing]

EVALUATION OF RISK AND MONEY MANAGEMENT

INTRODUCTION
These are two important parts of finance that a lot of business figures, investors, traders and gamblers are ignorant about or pay less concern to yet, it remains an important aspect of every successful merchandise that it cannot be over emphasized. I was driven to talk about this based on a suicidal thread I saw on the gambling discussion sub-board https://bitcointalk.org/index.php?topic=5286908.0
and it got me pissed off that people still see suicide as a short cut to get out of debts, forgetting how interesting life always turns out to be and the many opportunities it promises and as such, I got really concerned. Everyone desires a better life and as such, wee are driven to make hard choices that might either profit us, brings us closer to our goals/dreams or sink is farther to the depths of that which we hope to escape and in turn, end us!. For this obvious reasons, I have come to up with this article to shine a light on the shades of this topic and situation due to personal knowledge and interaction with these two concepts of finance and how it has held me up so far.
At first, I was going to base this topic on the gambling discussion sub-board but, due to it's encompassing nature as it covers both gambling, traders, investors amongst other forms of business, it would be inappropriate so, I feel this is the best place for this discussion.

KEY THEME DEFINITION
Risk: According to the Merriam webster dictionary, risk is defined as the possibility of loss or injury. I'll explain further as, a situation in which, what is been put out has a probability of either being rewarding or ends in a loss, damaged or solves a problem. In all that we do, there is always a risk factor attached. My composure of this article to post with my user has a risk factor (it could be considered inappropriate and make me liable for a ban), your free breath carries a risk (Gas poison), your stepping out comes with a risk (stepping on sharp objects or get bitten by a poisonous animal or hit by a stray bullet), in your investing in Altcoins (scam/zero potential on growth), gambling on some odds on the platform (You ain't no player on the pitch or an official of the match) etc.
Money: This is simply currency or a medium of exchange in circulation capable of universal or territorial acceptability as an exchange rate. This implies that, it's valuable like your local fiat, Bitcoin and few Altcoins hence, it should be handled carefully. This is why, risk evaluation and money management is a necessity for every successful merchandise.

STATEMENT OF THE PROBLEM
Unfortunately, many of us don't want to loose and so, we rule out it's possibility without considering any obvious factors that could result in a loss. This is the first step that brings us closer to a loss. Precautions against a risk factor is often associated with a 'what if' or 'should i'. Note those two phrases as they could be the phrases that could guide you against a loss or encuring more debts than you can afford. They come as:
What if I fail/loose?
Should I fail/get disappointed?
And is answered by
What next?
How do I recover?
What's the way out? (On this one, rule out suicide, you've got life)
These are critical to safe guiding your life and finance. They put your fund and fund raising in a pattern that if followed, your potentials for success is elevated.

RULES OF MONEY/RISK
These I've formed into three though, there might be a lot of others but, these sure do govern money management for me and could for you if tested, seen to work and adopted. Your welcome to add yours.

MONEY
1. You don't spend what you don't have
2. You don't spend more than you earn
3. You don't put money in unsure investments

RISK
1. You don't risk more than you can afford to loose
2. You never should risk all that you have
3. Never take a low success probability risk

SOLUTION: The solution to all the above rules is found in the reversing of these laws. It has a direct relationship once flipped. Though, I'll like to add this one important point and that is,
* Detest borrowing! If it's not a mission critical, never borrow. Let this be your last resort and should it be that you must borrow, there should be a ready made arrangement on how to repay what is borrowed.
Suicidal shortcuts to escape debt doesn't erase your debt. The debt owed just becomes a bad debt due to inrefundable nature but then, you remain a debtor and the statement 'the diseased owed me some $' still qualifies you very much and it's cost you your life.
Your life is worth more than any debt owed and so long as there is life, there is opportunity to acquire all that you desire in life. Retrace your step to where you got it wrong, right the wrong and success is yours.
Thank you.

[1714164568]

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[1714164568]

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[1714164568]

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[Charles-Tim]

It is good not to risk the money you can not afford to lose, it is also not good to be foolish, instead of people to see risky businesses as fun, they still prefer to use high amount of money that could get them into trouble. Some people like to gamble, they become addicted, and yet losing than what they can afford, borrowing, selling properties and the likes but yet betting and it becoming a problem for them. Such businesses like these are risky, and people do lose than gaining. Betting and all these businesses should be for fun, because the more we do it, the likely we lose. But, if fun for us, the results can be great for us one day without us expecting anything good coming, people should not be greedy, luck in life requires patience and hard work.

[CryptopreneurBrainboss]

I must say I enjoyed reading through this thread but I'm a bit confused if these are genuine thought of yours or copied from an external source. Risk is something we can't do without as investors especially in this industry where volatility is the order of the day. Everything we do is risk associated, the exchanges we use, wallets etc aren't risk free. I don't think there's a solution to eliminate risk but it can be managed.

One of the effective measure I used that helps me in my money management is planning for every cent before I received them, this helps me to keep track of most of my funds. (Can't say all since I spend some unwisely or not intentionally).

Before now I had my doubt people still keep themselves as a result of debts but after reading what you wrote I did some research and the general suicide rate is quite high (using US as a case study).

The annual age-adjusted suicide rate is 13.42 per 100,000 individuals. Men die by suicide 3.53x more often than women. On average, there are 123 suicides per day.

while some borrowers don't intentional put themselves in this situation, life just happens and aren't fair to then others do this intentionally which is just foolishness from their part. People borrow to spend which makes no sense at all and should be avoided at all cost if you're interested in leaving a debt free life.

[CryptocurencyKing]

I must say I enjoyed reading through this thread but I'm a bit confused if these are genuine thought of yours or copied from an external source.

I consider myself a writer and I do great mostly when I speak from the heart as it affects me, this is one of the pieces that affects me and what you've got is all me. I believe there are ways to check for plagiarism but it would be a total waste of effort as every word you got is all me based on my emotional directives. The message is more directional and better appreciated that way.

Before now I had my doubt people still keep themselves as a result of debts but after reading what you wrote I did some research and the general suicide rate is quite high (using US as a case study).

The annual age-adjusted suicide rate is 13.42 per 100,000 individuals. Men die by suicide 3.53x more often than women. On average, there are 123 suicides per day.

while some borrowers don't intentional put themselves in this situation, life just happens and aren't fair to then others do this intentionally which is just foolishness from their part. People borrow to spend which makes no sense at all and should be avoided at all cost if you're interested in leaving a debt free life.

I'm glad you got the point and did some research yourself as I wasn't able to consider any of those, I based on knowledge acquired in course of educational days in high school amongst others and personal interaction with these concepts.
Your research study based on the US is nice and adds verifiable data to the course and I'm very grateful that you did. It's just wrong for certain individuals to put themselves in tight spots and instead of looking for solutions, they kick the bucket with lots of undone stuff on their bucket list. Let's be fair to ourselves and do what is right. Learn management and save your life.

[cryptoaddictchie]

This is a long read but worth a shot. I can say that you are truly careful on what you managed. But the case is people have different approach and some risk apetite. Yeah always follow the safety path in order to keep yourself having more debts than gains.

MONEY
1. You don't spend what you don't have
2. You don't spend more than you earn
3. You don't put money in unsure investments

RISK
1. You don't risk more than you can afford to loose
2. You never should risk all that you have
3. Never take a low success probability risk

These precautions are all true. But if you want some gains that you think you would love to earn. Risking is the best way after all. Some investor and traders are throwing a lot of funds on different projects even its new or old, as long they think it got some potentials.

Why never take a low probabilitt risk? Its also rewarding once you gaiend from it.


Also quite confuse with "dont put your money on unsure investment" I dont believe there are sure investment that wont have risk and chance to lose, cause everything is a gamble the only factor you are checking is the chance of it going up or down. But in all aspect there is no such thing as sure win investment.

[CryptocurencyKing]

Why never take a low probabilitt risk? Its also rewarding once you gaiend from it.

Low probability risk often seems to reward the largest but, it's more like a once in a blue moon kind of occurance. Taking this kind of risk just puts you in a spot of high blood pressure or hypertension line as you often have this investment at heart, reminiscing on it day and night not to turn against you and that's where the higher odds lie. It's once in a blue moon nature makes it rather too dangerous.

I'll tell you a story.
There was a time when I started learning how to play bet. I actually heard from locals that where pals of mine that, the heights the odds, the more pay you get. The risk factor was off the table for me. So, I ventured into placing an accumulated bet on four teams with odds of 10.00 and above. Out of the four, just one played and the rest ended in desasters so, I lost my bet.
Hence, for how long must you try and know that before it turns to favour you, you've lost almost everything... Those could be winning chances should you look the order way. Gradual accumulation can still get you there. It's not always about how fast you arrive but sometimes, it's about if you get to arrive at all. That's why, landing is always better than take off when journeying on an airplane.

Also quite confuse with "dont put your money on unsure investment" I dont believe there are sure investment that wont have risk and chance to lose, cause everything is a gamble the only factor you are checking is the chance of it going up or down. But in all aspect there is no such thing as sure win investment.

Not like there are investments that are extremely sure that nothing could go wrong but at times from your analysis, you could invest in products that may not result in profit but still won't end you in a loss as the commodity remains valuable and could be used in regaining your capital.

[cryptoaddictchie]

you could invest in products that may not result in profit but still won't end you in a loss as the commodity remains valuable and could be used in regaining your capital.

Interesting can you share some fo this example. We are talking about crypto related investment right? Sure there are whom benefits with the product, but as Ive noticed it, mostly depend on the price of crypto they indeed invested. There are coins that let you earned from the holding and thats called staking but there are still a loss unless they are giving fiat or stablecoins as reward for that.

Got an interesting story. Anyway just sharing my deepest opinion regarding risk.