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Author Topic: 5 things you should not do with your money to get rich  (Read 2197 times)
Maximo Spohn
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December 08, 2022, 06:46:29 AM
 #181

Impulse shopping is the status quo of most people nowadays, and some people spend extra money purely because of vanity. Even with credit cards, you spend more than you earn.

Every month we can make a spending plan. Spend a certain amount each month and save the excess. Don't buy anything unnecessary. There can be an accounting book, and every money spent is recorded in the accounting book.
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December 08, 2022, 11:04:19 PM
 #182


1. Don't spend without a plan
  Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
this is an important thing in managing finances I think, but sometimes things don't go according to plan, with the strength of commitment this will always be done,
always avoid platforms that offer discounts and purchase goods in installments,

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December 08, 2022, 11:42:35 PM
 #183


1. Don't spend without a plan
  Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
this is an important thing in managing finances I think, but sometimes things don't go according to plan, with the strength of commitment this will always be done,
always avoid platforms that offer discounts and purchase goods in installments,
Everything should go in plan or someones does have the goals and targets that they do really have in mind so that they would really be that inspired on finishing those things.Unlike
into those people who dont have plans or dont set out those kind of targets which would really be resulting into those unplanned spending's but eventually be ending up
on having not able to achieve something in the end of the year.You cant really be that assure on what future you do have and on the things
that you are involving into.Always prepare for emergencies too.

R


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Zilon
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December 10, 2022, 09:47:48 AM
 #184

5. Don't invest suddenly

This is advice with strong value. Riches can be very toxic and if there are no financial advisors wrong choice of investment can be made. Example, when Bitcoin reached its ATHs  many predicted it was going to hit new highs, but the reverse became the case and such scenario can affect how much a wealthy person is worth especially when they depend on crypto investment for their net worth.
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December 10, 2022, 09:56:53 AM
 #185

5. Don't invest suddenly

This is advice with strong value. Riches can be very toxic and if there are no financial advisors wrong choice of investment can be made. Example, when Bitcoin reached its ATHs  many predicted it was going to hit new highs, but the reverse became the case and such scenario can affect how much a wealthy person is worth especially when they depend on crypto investment for their net worth.

the recent ATH really the example of a lot of newbies jump in directly to bitcoin its because they think it keeps going but they are wrong . The price drops and a lot of newbies crying in thr social media saying that the bitcoin is a scam. You cant really jump into investment if you dont have knowledge at all because that is a wrong move that lead you to big losses
mvdheuvel1983
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December 10, 2022, 11:02:01 AM
 #186

The tips given by th Op I agree with them.I would like to add that - Do not gamble with money you cannot afford to lose. Don't purchase items you don't enjoy. You can't buy health, so don't buy things that will ruin it. Avoid making investments in something you don't fully grasp. It is advised to invest in a field you are knowledgeable about, and lastly, exercise caution when lending money to friends and family.

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December 10, 2022, 08:59:31 PM
 #187

5 things you should not do with your money to get rich or advance your lives



Saving doesn't make us rich, it just makes us more selfish with ourselves. If you want to become rich, you should work hard and give your best, not save. A rich person is someone who doesn't have to worry about money. If you have a lot of money but dare not spend it, no one will say you are rich. Don't just save money without knowing what else to do.
Save and invest. Saving alone is useless, but when you save and invest, you will have bigger chances to increase your savings because of the profits you can gain out from investing. Although you don’t need to invest all what you save, but invest only a portion which you think you are okay to lose. And invest with knowledge and skills so you will gain possible profits in the end.


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DoublerHunter
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December 10, 2022, 09:15:52 PM
 #188


1. Don't spend without a plan
  Because if you want to save something or have some money, you should keep having plans when it comes to what you buy.
this is an important thing in managing finances I think, but sometimes things don't go according to plan, with the strength of commitment this will always be done,
always avoid platforms that offer discounts and purchase goods in installments,
^This belongs to financial management which you need to have a plan for everything you spend your money on.
Always separate your needs from your wants, always put priority on your need and your wants should not always be tolerated. Saving money and investing is the best thing to do, but that is not simple as that when it comes to investment, you should have knowledge of it before you invest so that you better understand what field you invest in. But saving alone won't give anything advantage to you, as an expert says, don't let your money sleep if you have, invest it wisely and let works your money for you.
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December 14, 2022, 09:00:05 AM
 #189


I found that most comments that are against OP's argument are focused on rationalizing overspending. Here I am not offering any support to go against this but simply asking one question: behind spending with budget(plans) is a consistent discipline that benefit us through life, how come you just relate overspending to things that you truly like or want ? If you lack or lose that discipline, even you are rich, you will go broke sooner or later. Take Nicolas Cage as an example, early in 2000s, his earning from one single movie was over 10 or 20 millions dollars. He was super rich and yet, because of lavish lifestyle, he went for broke quickly and owed tons of money. In the last decade, he had to keep appearing in low-quality movies just to make money to pay his debts. I think those who agree with overspending are not rich and don't know how to manage finances either.
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December 14, 2022, 02:27:56 PM
 #190


I found that most comments that are against OP's argument are focused on rationalizing overspending. Here I am not offering any support to go against this but simply asking one question: behind spending with budget(plans) is a consistent discipline that benefit us through life, how come you just relate overspending to things that you truly like or want ? If you lack or lose that discipline, even you are rich, you will go broke sooner or later. Take Nicolas Cage as an example, early in 2000s, his earning from one single movie was over 10 or 20 millions dollars. He was super rich and yet, because of lavish lifestyle, he went for broke quickly and owed tons of money. In the last decade, he had to keep appearing in low-quality movies just to make money to pay his debts. I think those who agree with overspending are not rich and don't know how to manage finances either.

Even if you are on your OP you know that there is no perfect casino here cryptocurrency right? Almost all of the well-known casinos here that I have seen in signature campaigns weekly have only had issues that I have read, and most of them have been users on their platform whose problem was abusive.

And the others are still making up a story to destroy gambling that for them they were cheated and robbed, but the truth is that it is not really.

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December 15, 2022, 05:52:03 AM
 #191

Rich or poor is like a mystery, today there are those who are rich but there is no guarantee whether a year or 10 years from now they will still be rich, and vice versa, people used to be poor but are now rich, if we pay attention in this life then many things seem to contradict this theory, maybe there are those who try to do everything to be rich but until now still poor.


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