Money is important in our daily lives, without it, how can we survive in our day to day lives?
Is money really the root of all evil? For me, I guess it will always depend on the person who is using it.
Money is important, we should use it wisely.
Do not do this things below with your money:
Overspending
You spend more than your capability or more than on what you are earning.
People who have credit cards are almost being tempted to use t most especially when they see an offer just like 0% interest or something like, payable within long periods of time.
How about those who do not have credit cards, are they more advantageous on noe overspending?
My answer is no, some people who do not own credit cards would rather choose to borrow money on their friends / relatives just to buy something which are less important.
It is okay to be in debt when it is really a necessity but if not, discipline yourself, train yourself to buy only something that is really important, needs first before wants.
* When it comes to money, if people have extra money, instead of them saving it, they now think of something on what will they purchase using that money.
Borrowing money to pay debts (debts over debts)
Some people tends to do this, that when the money they borrowed is already matured, whrn they still have ni capacity to pay, they tend to look again for another person whrre they can borrow just for them to pay the first person that they borrowed money from.
Over investing
Some people were easily being attracted on how much money will you make when you invest on it. Some just do not do first their own research when investing in to something and then the outcome is always a failure.
Investment is good but when you always lose money about that investment, then do not do it again. Make some research first
No financial protection
Yes, you maybe are earning much money but do you protect them? What I mean is, do you a health card / health insurance, life insurance. Because when you do not have any of those, and once you get sick, your money will be easilly be wiped out.
Talk to a financial advisor to help you manage / protect your money.
Not saving enough even you have the capacity
When you have a lots of money or you have extra moneys in your wallets / pockets, why not save it. Do not spend that into something that is not really important. Having savings is so important because when there will be moments that you will need money, you will no longer have to be bothered if where will you get some money.
Too much generosity
As the saying goes: "Teach someone on how to catch a fish, do not just keep on giving them a fish"
Everything that is too much is unhealthy. Helping someone financially is okay but if you feel that you are only the person who keeps on giving them financial assistance, that is too much, most especially when the one who asks money from you has now the capacity to earn money.
In the end, if you keep on supporting them, you will end up having no investments because you have given away your money to someone who does not know how to value it.
Always leave something for yourself, do not just give, give and give, you are not Santa Claus. Kidding aside, let's go to the next.
Avoid being a guarantor
Most people has weakness when someone asks them if they can be their guarantor foer them to be able to borrow money. Since that someone is maybe your friend in your workplace, you agreed. There are instances that the ending is,the person who asked you to be his / her guarantor left the responsibility of you paying their debts.
Gambling
Gambling is very addicting when you won, lots of money are coming along your way. But little did you know that, at first you may win and will make a lot of money out of it but in the long run, engaging into gambling will make you lose your money. It is very addicting that when you win, you just can not stop playing on it because all you want is to have that prize and when you lose, you just can not stop yourself from keep on playing because you have this "what if's" in your mind that in the next round, you will win.
I never know someone who gambles end up having lots of money, I know some people who gambles are lucky at first but in the end, they end up having nothing.
*Educate yourself on how to maximize your profit, earnings. Just do not spend, spend and spend. Your hard worked money should be spent on something that is only important. You can only spend money in your "wants" once you have enough savings and the moeny you are going to use is your extra money.
True. I would agree. In that way we could have something in times of needs or emergency. Life is a roller coaster it's not always the present but never forget to live with it.