Habits that can lead to your financial failure in 2024

[fikayo]

 You have conquer 2023 with it's many challenges to to your financial status.

Here comes 2024, a year with a lot of excellent promises.
Your financial success this year is of outmost important particularly since we a re approaching the bull period in the crypto space.

The habit listed below may hider your financial  growth this year
,👉Fear of leaving your comfort zone
👉Fear of failure
👉Looking for easy means to gather wealth
👉Wasting your precious time on things that are not necessary
👉Self indiscipline
👉Procrastination


You can add your point so that others can learn

[1715331026]

1715331026

[1715331026]

1715331026

[Zlantann]

You can add your point so that others can learn

Waste of financial and other resources: Some people earn so much but they end up wasting in things that will not generate financial returns. Waste of financial resources has made people poorer than lack of employment. Some people spend money on new gadgets not because they need them but because they just want to be in a social class of people who have the latest gadgets. I don't see any reason why an average citizen who is struggling to make ends meet will be spending money on the latest phone, clothing or other accessories. Some people also waste money on cars or big houses when it is clear that they don't need them. In my country, it's common to see young boys buying flashy cars when they don't even require them because public transport is economical. What will a bachelor be doing in a two-bedroom flat apartment, this behaviour is popular in my location. Many of these youths prefer to waste their resources on liabilities, rather than investing.  

Addictions: There is a need to engage in all activities moderately. Addiction to any behaviour could hinder financial prosperity. People who are addicted to drugs, gambling, food, s3x, etc, might find it difficult to plan and make sound financial decisions. Many of them will end this year poorer because of credits and debt. With the high rate of drug addiction in my location, many people spend most of their income on hard drugs. The popularity of online and offline gambling has caused some gamblers to develop some disorders.      
      

    

[|MINER|]

Life with failure is meaningful, but the fear of failure should not miss the meaningfulness.  To make money you have to adapt yourself both in the comfort zone and outside the comfort zone.  We must keep in mind that it is never possible to achieve success in an easy way.  Success always comes after hard work.  Success is not possible without hard work.  Self indiscipline people can never do anything good in life.  To do something good, people must be responsible and disciplined in everything they do.  Lazy people procrastinate.  To be successful and make money you have to separate yourself from laziness.  Everyone should make this pledge to start fresh and clean in the new year.

[junder]

You have conquer 2023 with it's many challenges to to your financial status.

Here comes 2024, a year with a lot of excellent promises.
Your financial success this year is of outmost important particularly since we a re approaching the bull period in the crypto space.

The habit listed below may hider your financial  growth this year
,👉Fear of leaving your comfort zone
👉Fear of failure
👉Looking for easy means to gather wealth
👉Wasting your precious time on things that are not necessary
👉Self indiscipline
👉Procrastination


You can add your point so that others can learn

The most experienced in my opinion is in unnecessary expenses, where many of them spend a lot of budget on things that should not be done, just like most young people, they prioritize style so they will strive for what they want, even though it is not very important but they strive for it because it is a requirement to meet current socialization, such as gadgets, vehicles, or clothes. This is sometimes not very important but is always prioritized over basic needs that clearly must be needed, also young people today many of them are reluctant to move from a zone that already makes them comfortable, some say they are afraid of failure and in that zone they already feel enough, even so I think everyone wants progress so they should not be afraid of failure to leave their comfort zone.

I think they should keep track of their expenses, maybe then they will realize that there are expenses that they shouldn't be doing. Sometimes there are also some of them who have gotten the opportunity but are still procrastinating.

[Yamifoud]

That is right OP but we can make it right and gain success if we change our behavior and keep aggressive rather than gaining fear.

Some people say failure is normal but for me, it only just happens if we invest or get into a business that we never know. In fact, we have to do research, study the business, and create strategies but if we keep on rushing, that may cause failure and market rejections.
we can make a change by doing,
 - carry a positive mindset
 - don't stop learning
 - willing to listen to advice

[tsaroz]

You can add your point so that others can learn

Impatience. Not being able to hold for long or changing the boats often spending more on fees than earning from them.
Not diversifying. Something might seem too good and an easy way to get rich but putting all your balance on single basket is risky.
Not being able to classify priorities. You could be spending more time on things that are less important and giving less time to things that are important.
Automation. You can't be agile and active 24/7. You need to automate as much task as you can. If you have less options, just place the orders beforehand, so they'd be initiated once reached the price point.

[Obim34]

Very smart of you OP, definitely there are lot of mischievous behaviors which we inhibited in the past year (2023) that shouldn't be part of us in this new year. This year has a lot of nice package starting from the Bitcoin halving and may include the Bitcoin exchange traded fund, all this will benefit us so we need to be in the right track as to enjoy this benefits.

Another habit that can lead to financial failure in 2024 is Poor decision making. This unwise decisions can lead to extreme suffering and regret before making any decisions think twice, everything has an advantage and disadvantage consider both before taking up any action.

[Lorence.xD]

You can add your point so that others can learn

That is actually a good list that leads to financial failures but I think one of the most common things that everyone has experienced is the lack of knowledge in budgeting or managing their finances which leads to not important use of money. It might sound easy to handle finances but some have other interpretations about it, like they include having money for unnecessary things but not having spare money to invest. They focus on short-term convenience and satisfaction but don't have the mindset for the long term. Just like for example, keeping up with the trend by buying a new iPhone which costs a lot despite having a decent cellphone, with that amount of money you can already accumulate a lot of Bitcoin or invest it in other investments where it could give you a great return in the future.

[Liliana1304]

You can add your point so that others can learn

---Being desperate
---Repeating a bad process and expecting different results

Some people get too desperate to hit the jackpot that they forget to follow guidelines or even make their research, making them easy targets of scammers and instead of learning their lesson, they still go ahead and make drastic decisions that lead them to fall again, its just like a cycle.

The above mentioned points go hand in hand because if you look at it, people tend to make decisions that aren't healthy and when they get burned, instead of learning, they repeat the process, only difference is they come from a different angle. Some of them do not learn until their finances are badly affected.

[DeathAngel]

In 2024 there can be several habits that can lead to personal financial failure. One is overspending & living beyond your means which can result in mounting debt. Another is a lack of budgeting & financial planning leading to poor money management. Neglecting to save for emergencies or retirement can also have long term consequences. Falling into the trap of impulse buying or engaging in risky investments can lead to financial instability. Also not keeping track of expenses & failing to review & adjust financial goals regularly can hinder financial progress. It is essential to cultivate healthy financial habits to avoid personal financial failure in 2024.

[Kelward]

Thanks for listing some habits to avoid if we want to achieve greatness and attain a new financial height in this new year 2024, financial freedom is possible if we have the right mindset and be disciplined to follow success parts.

What I can add to your list is that we must endeavor to live bellow our means or income, if we're able to do this then it'll be hard to become broke. Living bellow our income will afford us the opportunity to save and have investments without resorting to borrowing or begging, example is that we can task ourselves to do DCA method to accumulating Bitcoin. If you're spending according to your income or above your income, it'll be very difficult to have any investments without external help and we should not put all our hope on others because they can disappoint us. Always begin a financial plan with what you have, this is why we must be very prudent in spending so we can save from our income, so any external income will be a support to our 2024 investment plan.

[dothebeats]

You forgot impulse buying. This is a hard habit to break for a lot of people with the advent of online shopping apps. They think they are getting a steal on the prices on monthly deals when in reality, they are not getting anything off of it, just another item to be left in the bin for weeks to come. This also takes up a huge chunk of people's salary unfortunately if not kept in check.

Better keep things on a budget and stick to it religiously for this year.

[kentrolla]

There are hundreds of reasons but I see more people failing because of procrastination and also believing that they can get rich quick by being lucky. People should avoid being lazy and demotivated.

If you look at all the founders and CXOs in any organisation they would always be the highly motivated hard workers with smart thinking who are very confident on their plans and have a clear plan how they are gonna operate. We fail due to the reason I have mentioned above along with poor financial planning with out much research.

[bluebit25]

(...)
The habit listed below may hider your financial  growth this year
,👉Fear of leaving your comfort zone
👉Fear of failure
👉Looking for easy means to gather wealth
👉Wasting your precious time on things that are not necessary
👉Self indiscipline
👉Procrastination

First of all, looking at these behaviors, I just want to generalize them in a negative way, and not only for 2024, but if these things still exist, everyone's lives will have to face numb results. I think we need to think more positively in life, what is the goal? Ask yourself questions, and come up with solutions, the process of learning and achieving success will be accompanied by failures, and if you remember the beginning clearly and stay steadfast with your goal will also be conquered. As 2024 begins, I know many people also have ideas about their own development plans, and I wish everyone a great experience with the plan.

[Gozie51]

You have listed quite a number of factors that will hinder success at anytime. I believe the most of the factors is subsumed on proper planning or budgeting both in finance and our person too. Planning is not only about money but we also need to take ourselves into consideration. You don't need to start something that you can't commit yourself into because of lack of time. If you start up something it means you have invested money into it and when you can't follow it up and allow it to go down it means you have wasted that money. Therefore, we need to avoid wastages and focus on the things that we can highly perform on which means profit will be secured.

[zaim7413]

1. Anyone who does not want financial growth to be hampered must have the courage to leave the Comfort Zone because the comfort zone will slowly kill potential. While you still have the opportunity, like you are still young, your energy is still strong and you are still free from disease, never hesitate to take a leap for a better future. Financial growth can only be achieved by people who are persistent in trying and always use their time to do something that can bring in money.

2. Fear of failure will hinder progress in achieving success, it is very difficult to achieve financial growth if you are still surrounded by fear of failure, this type of person is because they are not confident in their own ability to develop their potential.

[Balmain]

To experience financial success, you need to have a certain discipline and also a road map, and to realize this plan, we need to be patient, not rushing. Review the habits and try to understand where and what is missing, no one knows this but you, that's why insight is so important. A positive mindset and daily affirmations will keep you grounded. I sometimes end up procrastinating and not doing some work on time. My goal this year will be to change this habit. If you identify a bad habit and solve it, you will move on to your next task. I wish everyone a year full of financial success in 2024

[Cookdata]

You have conquer 2023 with it's many challenges to to your financial status.

Here comes 2024, a year with a lot of excellent promises.
Your financial success this year is of outmost important particularly since we a re approaching the bull period in the crypto space.

The habit listed below may hider your financial  growth this year
,👉Fear of leaving your comfort zone

A comfort zone is nothing but a trap that makes you think you have achieved everything until you start realizing that you haven't achieve anything at all. It shouldn't be confuse with peak zone, if you are successful, a time will come in your life that you don't have nothing to do but to watch and enjoy the rest of your life but been comforted when you still have a lot to achieve is what some people don't know how to avoid. I have one of my friend that was working with a mining company and he was been paid well( he could save and take care of his need) and was offered another job by another company but he refuse to go even when the pay was huge giving excuses that it's far from his city, recommended the job for another and not long he was dismissed from mining company for reasons better known to them. He later got another job but pay less than what he earned over there and the guy he recommended is doing more than him today.

You can add your point so that others can learn

Stop borrowing over little problems, it reduce your standard. Not saying it's bad to borrow if you have a problem but stalking people over small amount of money makes you less of a person and less respected. In addition, stop hazing ladies in the name of pressure, you will go broke before you know, if you have a girlfriend, be committed and face your business or husle.

[Rruchi man]

👉Fear of leaving your comfort zone

Comfort zone will make you feel like you are okay and do not need more. The comfort zone has killed more dreams than we can count.

👉Fear of failure

Most people who fear failure are people who still concern themselves with what other people will think about them. Due to that they never try to do anything extra because they are afraid of being mocked if they try and then fail.

When you fail, you do not start from zero, but rather at the point where you failed. So in failure, there are lessons learnt that someone who has never tried will never know.

[topbitcoin]

The comfort zone... may only be reserved for people who have privilege, someone who was born into an affluent family... who when they ask for what they want, their parents will immediately grant it. I personally come from a simple family, and if I have a wish, I have to harbor it and try to make it happen without having to bother my parents. For me, it's hard to find a comfort zone. I have to keep trying to make what I dream come true. Failure is not something I am afraid of, because the most important thing is the process, not the results, because the results depend on the process we do. And it's not failure that scares me, but fear is what often makes everything fail. And for me there are no shortcuts and no easiest way to earn income, because everything is a process and struggle that we have to go through. And the easiest way to get money is to ask or beg other people. But I think I can make money without having to beg.