Money -It is not a new story that wealthy persons who once flaunted billions through what they drive and where they went for tours, came down crumbling like the Biblical Tower of Babel; and today they are dead broke.
There is a common English adage that goes ‘money problems do not end once you make money’. Sometimes that is where the real problems start.
It could be no one’s mistake, because no man wants to be rich one day and the next he is a beggar on the streets! It beats logic. Many of such persons had good intentions but only lacked financial skills to protect their hard-earned wealth.
The very first mistake people make with money is thinking that extravagant expenditure equals success. They think buying expensive items anyhow can make them better in the society.
Well, enjoying your money is not bad but it is something else when you make expensive purchases to impress a class or to make your woman happy.
The best rule of thumb is to try as much as possible to avoid being influenced by others because everyone has his life to live. Resist or run away from what you cant.
Secondly, there are two ways of maintaining wealth – through savings or through re-investments. So if you are not saving, you must be ploughing back profits into your business. And if you are not doing the two then you are simply spending.
Lastly, some people hardly learn from their mistakes. It is quite important to always be keen with avoiding money mistakes. You should not allow a repeated mistake with money. Learn to avoid anything that looks like wanting to mess with your budgets.
And it goes without mentioning that sharing a portion with friends brings more blessing for you. A hand that giveth receives more. Remember, we do not make wealth to keep it for ourselves. That is not how to multiply riches.
