Money management

Pinto

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In order to be a successful individual or a business owner money management is an important factor, in your opinion what is the biggest mistake that people do when managing their financial life? I think its over spending in a short amount of time? what do you think?
 

kingcool52

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Spending money on things they don't NEED or on things that they can't afford. The latter is probably the biggest mistake that you can make. People spend money they don't have and get into a lot of debt.
 

bharath

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There are simply too many avenues to invest in, each with its own underlying risk. Therefore, it becomes terribly important for a prospective investor to do a thorough comparative analysis of the various investment avenues before investing anything at all anywhere.
I want to see your management before telling someone to do. P.S show your assets and how far you maintained them.
 

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lucycarter

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In order to be a successful individual or a business owner money management is an important factor, in your opinion what is the biggest mistake that people do when managing their financial life? I think its over spending in a short amount of time? what do you think?
Hello,
I completely agree that over spending is the most common mistake among new businesses. As everyone know that money management is key to success, so one should make a proper strategy on where to invest money. It will help in checking over spending and will be beneficial for business to become successful.
 

jyy

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I'd say that careful research needs to be done - before venturing into a business - and everything needs to be taken into account.
 

trần quyên

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Money management is a must if you want to be successful, I think so and believe successful people manage their money very well. Hope everyone share the best money management I've ever tried
 
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Jemirheri

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In order to be a successful individual or a business owner money management is an important factor, in your opinion what is the biggest mistake that people do when managing their financial life? I think its over spending in a short amount of time? what do you think?
You have said it all... Most person spend more money than they earn... Its is called hustling backwards
 
V

vest1992

Guest
In order to be a successful individual or a business owner money management is an important factor, in your opinion what is the biggest mistake that people do when managing their financial life? I think its over spending in a short amount of time? what do you think?
I think the most important thing here is changing the mindsets that make you choose to buy things that only the mind could know it s usefullness though on the long run it will stay in your wardrobe or wherever and not being used. Changing the mindsets, working on your self development is the key here.
 

Claraviolet

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It's not easy to manage money. There are so many distractions and not to mention that we can't always stick to our schedule as well.
It's better to limit our expenditure first. Only then we can try to save up money for our future. Also, it's better to go with a fixed deposit in a reputed bank. Then we can use the extra money for our business purpose. This is just how I do things.
 

Abigael

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Money management is really important for your financial health. The biggest mistake that people make is taking loans for the sake of buying luxury stuff. Then they don't have a plan on how to pay it back. I have made this mistake before and I never want to go back there. It really paralizes your need to be financially stable.
 

Niftyyem

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Another big mistake is taking avoidable loans. As much as I know that certain projects may make taking loans inevitable, I try to steer clear of loans. Debts and frivolous spending are two things that can put a person in a financial mess.
 

WhiteHouse

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I think the most mistake people do is living beyond there means and carelessly getting into debt, you should live within your means and strive to increase your means..
 
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