Biting more than i can chew. How can i do better?

[oktana]

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

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[batang_bitcoin]

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

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

[Huppercase]

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

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

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

[Youngkhngdiddy]

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

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

[Yatsan]

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

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

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

[m2017]

I am a young man who is not married. I have made some mistakes in how I use money and the resources I obtain. So, I have come to share this problem with everyone in the hope of finding help and changing the way I misuse money.

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

I have a psychological memory from my upbringing that money is earned and should be spent as long as you keep earning. I see money as something that needs to be spent.

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

If I see something I like or desire, I buy it without minding the cost as long as I really like it. Yep.

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

Many years of self-employment with varying monthly income were like a blessing to me since I started designing and building websites.

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

This little money made me a bit proud of myself and where I've come. I made a lot of friends, and whenever they asked me for anything, if I had the money in my possession, I'd disburse it to them. I was happy to receive praise that I was the best friend a person could ever have. I won't forget when I started going to clubs and spending money on luxurious clothes and booking rides from one city to another.

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

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

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

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

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

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

[junder]

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

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

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

[TimeTeller]

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

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

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

[TakeItEasy]

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

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

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

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

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

[rachael9385]

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

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

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

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

[Hamphser]

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

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

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

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

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

[Kelward]

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

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

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

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

[romero121]

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

[macson]

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

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

Just enjoy it, my friend..

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

[Ultegra134]

First of all, I hope things get better for you soon. To start addressing what you can improve, the most important aspects are self-control and money management. From what you've mentioned, I'm getting the vibe that you're a person who wants to spend money; the more you have, the more you spend, which is the wrong mentality to have for a variety of reasons. Some of which are limited or no savings for emergencies, no investment capabilities, and no real net worth. Thus, you need to improve your self-control and avoid spending every penny you receive. Put some aside for the future.

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

This is some solid advice; however, I'll tell you to start simple: no budgeting whatsoever; cut unnecessary expenses; do you need luxurious clothes? Probably not. Going to clubs and wasting all your money there? I don't think so. Think deeply about what you truly desire. From how I see things, based on what you described, you're someone who wants to feel desired, appear to have a social life, and so on. However, I'm sensing that there's a deeper reason for your behavior. Try to limit these habits, and if I were you, I'd be more cautious around my friends, as they can be taking advantage of your generosity, something that is unfortunately quite common.

[Lorence.xD]

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

[Agbamoni]

You've said that you've grown to believe that as long as you've means to make money, you don't have to worry about spending and given that it's instilled to you at such a young age I assume, you're going to have a hard time being able to change the way you see money and your spending because the habit and mindset is too innate that a change would be difficult, you can probably do it in two days and then you're going to relapse to your old habits,

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

I suggest that you talk this out with a financial expert that can help you in your spending and a psychologist to help you or guide you into rewiring how you think when it comes to money and removing the old habits and mindset that you want to change or remove. Self-help books can be helpful too.

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

[batang_bitcoin]

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

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

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

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

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

[Dimitri94]

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

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

[bitterguy28]

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

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

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

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

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


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