4 top reasons for financial instability

[Augusta]

You are always in and out of debt, always financially low and your money hardly stays with you. All of these Comes from you. There's nothing magical or spiritual about it. Untill you look inwards to remedy the situation you might just be losing it till you can't win at it.

So what are your top resasons for financial instability

1.Having huge taste for life; You just want to be trendy even with your low income. You would be poor

2. Amassing wants: You leave what makes more economic sense to things you can do without.This will keep you struggling for a long time.

3.Lack of contentment:;This should be the icy on the cake because a lot of people are on this table. Some people can't just be satisfied with what they have

4.lackadaisical attitude: Some people don't want to put in effort but want to live the life. Doing this with the little you have will only bring financial instability

Add yours?

 

[saoussen5765]

Sometimes weedings obliges you to buy new fashionable clothes even you are poor to assist in weedings of one your family and in this case rule number 1 isn't always true, sometimes you borrow for buying these clothes.

 

[Augusta]

You didn't get my number point, it isn't about just attending once in a while events that you need to buy a dress or clothes but I'm referring to people that have high taste for a lot of things that sometimes they have to break a bank to get what they want at that time.

If we leave by our means no matter the fads and trends at that time we will be doing better financially than when we follow trending things and be wasting money both on our needs and wants.

Another thing is trging to keep up with the Joneses. you don't know how the other person is making money but you want to live like them. The truth is that somethingge we struggle to get another person can afford double of it without any financial stress

So you shouldn't be in competition with anyone just try and be yourself and do the most you can to establish financial stability.

 

[Mika]

Financial instability is related to not saving money and not investing money rather than not earning money. While it is important to make money, in order to save money or invest money, a lot of people cannot save money or earn money even though they are earning money. Therefore, if you want to be financially stable, the first requirement is to save money. You need to save money for two purposes, one to build emergency funds, and two, to be able to invest. While saving emergency funds will help you cope with the financial crisis, investing will help you to build passive income and also build your website. While you need money to invest, you don’t need a lot of money to start investing, you can start small, and gradually build your investment portfolio by regularly investing. Investing is also very risky, therefore, you will have to diversify your portfolio by investing in different markets.