3 Reasons You Are Not Getting Financial freedom
Financial stability is the thing that everyone wants but the problem is we can't follow the rules that lead us toward financial stability. So instead of crying you have to analyze the problems and then you will get a solution for sure. Here we are going to talk about three reasons that stop you to become a financial freedom person. There are multiple factors but we are going to discuss three in this post.
Needless Expenses
When you get the weekend just think about it deeply. Make a list of your expenses and trust me you will find lots of unnecessary expenses. When your income is low and your expenses are higher then there is instability and this instability leads you to take loans and debts. Reduce your expenses first and focus on saving.
Once you learn to save money first which is the basic thing then you can take your financial system to the next level or one step ahead. And this is when the many roads will open to becoming a financially stable person.
Unnecessary Loans
Above I have talked about the unnecessary expenses which are affecting your saving. When your expenses are higher then you will take the loans and the interest rate is higher and also there is the penalty. Let's say you have taken five years tenure loans and during this time many difficult times will also come and at that time you will not be able to pay the EMI.
If you will not pay the EMI then you have to pay the penalty. And you keep falling into it. So it is better to avoid multiple or heavy amount loans for your unnecessary expenses
Bad investment decisions
You are seeing many greedy ads on youtube regarding making money. Mostly they are promoting gambling, betting, trading, and any other type of investments. You have to avoid betting and gambling completely but in the case of trading and other investments, you know nothing about that and you just dive into it. That time greed takes over you and you lost your money. Trading is good but you have to take knowledge and learning first. Treating training as gambling will lead you to lose money.
Similarly, Avoid shit projects in crypto for investments. Always check use cases, team, whitepaper, and roadmap. Do not invest money in any unknown project. There are lots of fake projects in the crypto field and they are just here to raise funds and then do a scam. I just prefer to invest in top coins including Bitcoin, Ethereum, and Hive because these coins have a true decentralization and community.
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Lucky Ali
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 | Hi I am lucky ali from gujarat, india. I am crypto enthusiast, blogger and SEO developer. I always interested to learn new things and getting new experience. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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i totally agree with your text and we have Needless Expenses , loan , we should decrease them to make the life easy, best point that you said that we invest without plan, thinking reading, every points you gave superb,
exactly brother some private loans are very dangerous and I have faced this situation.
sahe kha bbhai buty life ka kuch pata bhe to nhai hao kal ka ho jaye. sab plans dhare ke dhsare reh jayeneg 😅 great post bhai as always keep writing ♥️
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What a great post you've got hear @luckyali. I agree with you in all the three reasons for why most humans are not financially stable.
I myself have learnt from this post and I hope to put it into use.
Thanks for sharing this beautiful insight. I am @infynytymining.
I am glad that you get something good message from this post buddy. Good luck.
Many people don't follow this good piece of advice: never spend more than you make. If you follow this rule, you won't usually get into debt because you won't take money for things you want but don't need. When your finances are stable, it's important to start investing, but you have to be careful about the risks. Thank you for your advice.
Absolutely correct and the first line you shared is the key to saving yourself. Do not forget this golden rule "Never spend more than you make".