Financial tumor
I have a wealthy friend, even though I don't know his source of income, I know he is rich because of what he can afford. But a few days ago, this guy messaged me that he needed to borrow some money. He also explained to me about most of these properties that he has sold just because of emergency money, and he was not able to keep up with the kind of standard and the life he chose for himself, but I could not blame him because so many people like that are also like this that can't manage their finance.
As I've mentioned in my previous posts, it's important to focus on utilizing our income to make more money instead of solely focusing on what we lack. Unfortunately, we tend to misuse our income on things that are not profitable and end up killing the potential for growth. It's common for us to create a facade of wealth by spending on things we cannot truly afford, but in reality, this oand can't manage their finance.
Debt is like inevitable payment for every mistake that we make
After, I borrowed money from my friend. Later, I received a call from one of our closest friends that my friend was now in big debt, and everybody was looking for him. I was not surprised by what I heard because some of us were making more money that could sustain us for a whole year and we received them in a month, but at the end of the day, because of our lack of planning and inability to put this money into good use, we end up struggling and makes us ask for help, and this help only means one thing for us is to take loans and also borrow things from people just for us to get by, and before we know it, we will be in debt.
Being in debt can be a never-ending cycle, leaving you feeling stuck and drowning in financial turmoil. Unfortunately, this is a reality for many who haven't properly planned and managed their finances. Even those who earn a good income can fall victim to increasing debt if they live beyond their means. It's crucial to learn how to manage your finances and live within your means to avoid being trapped in a never-ending cycle of debt.
Debt is hard without planning and proper concentration
While some people may argue that debt is not necessarily a bad thing, it truly depends on an individual's ability to manage their finances and plan for the future. For those who have a solid plan in place and are able to make payments on time, debt can be a manageable part of their financial situation. However, for those who live beyond their means or lack proper planning, debt can quickly become overwhelming and spiral out of control. It's important to carefully consider your financial situation and make a plan for managing any debt you may have in order to avoid it growing into a larger issue.
We must pay attention to our finances and to pay attention. It's simple, but we must know what we are doing by making proper plans that will take us out of debt. Planning our income is one of the most effective ways to get rid of debt, but without this, it is evident that someone will remain stuck, and the tumor of death will only get bigger.
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Unfortunately, many people create a facade of wealth by spending on things they cannot truly afford, leading to a cycle of debt and financial struggle. So your friend may have fallen into the common trap of living beyond his means and not managing his finances effectively. I agree with you, it's important to focus on utilizing our income to make more money instead of solely focusing on what we lack.
It is easy to get lost buying what we lack instead of focusing on what we need.
Debt is a hard cycle to get out of. You definitely need a plan to get out of it. It sucks to hear that he lived outside his means, but I think he can recover from that. Unfortunately, money is a large part of our lives and that is why it's important to manage our finances.
Agreed. Money is indeed the largest part of our lives and without a plan, we might find life hard
Lifestyle inflation will always end badly for people that practice it when their income begins to go down but their expenses is still the same. In such cases, getting into debt seems to be the only option and before they know it, they're deep into debt. We should learn to manage our income properly and spend accordingly. Taking in a lot of debt can be very stressful.
Learning to manage our finances is important but most people don't always take it seriously until is too late
My whale has spoken again 😃. This is so true, it's not all about making money but what you make do with the money you have acquired. Some people are very lucky with anything they put their hands into but then in the end they still end up in the mud because they fail to judiciously use what they are blessed with.
Living an extravagant life has never been helpful but surprisingly, it's the major kind of life most people dream of today. Some people spend so much because they believe that since the Bible says tomorrow will take care of itself, then why worry? So they end up not saving or even planning for the future.
See this whale is teasing me.
It is to get lost because an opportunity that is fetch so much might not last forever.
I'm not teasing you at all sir 🌚
Well, that's true too