FINANCIAL LOSS — 5 Signs You’ll Lose All of Your Money

1# — You have only one Income Source

First sign that you are losing your money is that you have only one income source. You are staking your life on one thing. If anything happens and you lose your job, you won’t be able to manage your expenses.

2#- You are Spending more than Earning

If you are spending more than your actual income then no doubt you are going to be poor again. If you are the kind of person who loves to show off with money and wants to hang out with friends, then unfortunately you are not on the list of successful people. Successful people first invest in a business, establish it and reinvest to grow, and then spend when they successfully start making money passively.

  • Branded Items
  • Luxury Accommodation
  • Fast Food
  • Parties and Friends
  • Traveling

3#- You Get into a Money Fraud

There are a lot of money frauds around and not all ways to detect them are obvious or easy. Never make any decision based on your feelings alone because that could lead to disaster. If it’s an important financial transaction, always get professional advice before taking action. Don’t be too naive to fall into this trap. There could be different frauds that you can’t even imagine.

  • Romance Scam
  • Banking Scam
  • Off Plan Real Estate
  • Crypto Investment
  • Imposter friend/family
  • Prizes and Lotteries1

4#- Investing without Experience

Investing your money without work experience can put you in trouble. You might lose all of your money if you don’t know how that business works. It mostly happens with people who are investing in stocks, crypto and forex without any knowledge and experience. They end up losing all of their money.

5#- You are Paying for Unnecessary Subscriptions

Unnecessary subscriptions are one of the most common mistakes that we make because of which we lose a lot of our money. Paying subscriptions for movies, serials, games and some other app that you are not using right now are the real burden on your monthly budget. So cancel them as soon as possible if you don’t want to lose more money.

Some Financial Tips To Save Money

  • If you cannot buy twice don’t get credit card loan on behalf that item.
  • Make a Budget at beginning of the month and spend your money accordingly.
  • Divide Money into three parts, one for savings, one for expenditure, and one to reinvest.
  • Change your lifestyle if it becomes difficult for your to manage your expenses.
  • Work on Side Hustles and build some new income streams.
  • Main Human needs are food, accommodation, and clothes, try to get them at cheap prices.

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Quantum Thinker

Quantum Thinker

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I write about Notions built from 3Ms : Maxim, Mental Model & Metaphor related to Finance — Health — Philosophy — Psychology — Technology. www.quantumthinker.io