Money management

[Abiolz]

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?

The biggest mistake people makes in money management is poor planning ability, a well planned financial blueprint lead to great money management.

 

[Tessyy1701]

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?

The biggest and a mistake in money management is to put person in a place to manage Your money and people do mistakes relationship with business but I can tell You it's not working that way. Nobody can manage Your money like You do.

 

[gammarays]

Money management will help you to pull in profits over a long period of time irrespective of the economic situation. It'll also help you to scale through in forex trading or crypto trading.

 

[Josemendez]

Knowing the great difference between NEEDS and WANTS will help in managing our finance

 

[vest1992]

Knowing the great difference between NEEDS and WANTS will help in managing our finance

True that, I think this was best when I have learned about wanting to drink sugary drinks or eat snacks or any other sugary food which was a want of a segment of thoughts I was receiving in my mind, which wasn t me, and since I stopped giving attention to that part I stopped eating or drinking anything that has sugar, not sure if you guys/girls know but sugar is the worst drug, it is worse even than heroine and it is sold in most of the products in shops.

 

[dogmatic_p]

The major factor in business is the idea first and then the starting capital. Then all other factors towards the success of the business is looked into. Success in business comes with many obstacles.

 

[vest1992]

The major factor in business is the idea first and then the starting capital. Then all other factors towards the success of the business is looked into. Success in business comes with many obstacles.

Obstacles are the best thing of learning, you find ways to grow. The starting capital in most business is less even than 50euros, again depends of areas but still less, for example in Romania when you do your card for your business you need to pay 200 ron which is $48.71 USD ...

 

[ahmedo24]

According to great Nelson Mandela " it always seems impossible until the job is done" many people have great ideas but capital has pushed them bank but most times easily get discouraged to source for funds

 

[Towsyn]

Being in haste to get loads and loads of profit which makes one take uncalculated risk which will eventually make you loose your money

 

[ahmedo24]

Being in haste to get loads and loads of profit which makes one take uncalculated risk which will eventually make you loose your money

It is highly recommended that patience is key in order to succeed in every business you engage on, not every business comes with immediate profit.

 

[vest1992]

It is highly recommended that patience is key in order to succeed in every business you engage on, not every business comes with immediate profit.

long term thinking +patience = success

 

[Braga13]

I think the biggest mistake people make in their financial stuffs is Exaggeration in expenses and lack of balance between income and expenses

 

[bizman]

in your opinion what is the biggest mistake that people do when managing their financial life?

In my humble opinion, the biggest mistake that people do regarding their income is not planning about their spending and simply spend on non-essentials too.

 

[Guyfrancisco]

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?

Outside over spending, most businesses and owners fail to calculate or map out long term aspirations and projections. Some too, lack the basic knowledge of the chosen business and stuffs like that.

Money Management is the key to success

There are several factors to put into consideration. Financial prudence, time management and proper book keeping is necessary too

 

[Niftyyem]

Ensure that you make saving a part of you and your business. Those funds do come handy in rainy days.

 

[Nurudeen]

I can't agree less with this your assertion. It's good for small business owners and big investors to inculcate money management to help save their business and investment

 

[Kamon c4]

I think most people neglect their scale of preference when they make money all they just to is get what they want forgetting that needs is more important than wants

 

[ahmedo24]

Scale of prefence is actually very important when it comes to management of business because it brings about financial prudency in any business.

 

[Aditboy53]

Money Management is important for controlling financial conditions in order to survive in the future, you must be more observant in controlling your needs and desires.

 

[ahmedo24]

Once you are prudent you will find it very easy to manage the little money you have even if it is much because if you can manage little amount you can obviously manage bigger amount.