Getting broke is easy, Becoming rich is hard, so be smart with your time and money
Money is slow to enter your pocket but very quick to leave your pocket.
It is very easy to go from being Rich or a billionaire to becoming broke as hell when you misuse your funds, especially on unnecessary things that you do not really need but you go ahead and buy them anyways just to show off that you can, forgetting that it is not so easy to become Rich or make money especially if you are going through the legal way and not into crime like being a fraudster, drug dealer or some other illegal stuff. So my opinion is that you should not waste your time and money on irrelevant things and habits, and also cut down on unnecessary spending just to prove to people that do not care that you have made it.
I saw a movie recently that had to do with finance and how to manage a company worth billions, so in this movie, a very rich businessman left his wealth and company to his spoiled children who have never worked a day in their lives and in less then a 1 year his spoilt children ran a multi-billion dollars company into the ground, due to the lavish spending and wasteful nature of spend anyhow on thing they need and on things they do not need, the man oldest some instead of investing and looking for ways to grow his dad's company, he was busy spend $10 millions every night in the club every single day, until the money finished then he and his siblings realized what they have done.
In my opinion, the man's children ran the multi-billion dollars company to the ground because they do not know how hard it is to make money or grow a company from the ground up because if they did they would not be so stupid to crash a multi-billion dollars company to the ground, I think the man would have groomed one or all of his children on how to run the company so that when his gone they can handle the company.
So let me ask when would you start teaching your children about crypto and how to manage money properly.
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Indeed, financial responsibility and knowledge of budgeting is essential for everyone, so thank you for sharing this with us. 😊
In a sense, coming from an impoverished or relatively financially poor background can help in terms of wealth management because those who make it from the bottom understand the value of the earned dollar best. That type of experience is not to be taken for granted.
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That is just it, those who make it from the ground would not joke about it later, because they know how hard it is.
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For crypto holders, don’t leave your crypto on the exchanges.
Very true, last year taught us a lot of lessons
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It's hard to watch inexperienced people bring down an empire that took decades to build with commitment and dedication. Building is the hardest part and it can go in vain if there isn't an educated person to carry on the task. Very few people hold on to generational wealth.
It is very painful but very few can hold on to a generational wealth and make it flourish.
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I remembered stumbling on a verse that talks about riches in the book of proverbs and it was at that moment, I vowed to teach my children how to make and value money while they are still very young so that when they grow up, they will know how to make money work for them and not spending lavishly.
If you entrust your money to someone who doesn´t know how money is made, he or she would squander it as soon as possible without leaving any behind.
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You have said it all, If you entrust your money to someone who doesn´t know how money is made, he or she would squander it as soon as possible without leaving any behind.
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