Carpon
Valued Contributor
Staying in the same spot may seem to be safe and non threatening but actually, staying stagnant financially and not getting more ways to earn and make money poses some threats on one's Personal financial life.
✓ One disadvantage is traceable to the fact that most economies are not stable and on a daily basis, there are economical recessions that lead to an increase in the cost of living. One will therefore need more to stay financially stable and able to take care of his or herself and any other thing without any struggle. When you are stagnant financially, the negative effect of the above will sweep through and affect your finances greatly.
✓ It limits your financial capability. Financial strength is weighed based on the level of your financial growth. The level at which you improve financially will be the same level at which your competitors will reduce. As a business Person, your business profile is greatly increased when your net income increases rather than stay stagnant in one place.
✓ One disadvantage is traceable to the fact that most economies are not stable and on a daily basis, there are economical recessions that lead to an increase in the cost of living. One will therefore need more to stay financially stable and able to take care of his or herself and any other thing without any struggle. When you are stagnant financially, the negative effect of the above will sweep through and affect your finances greatly.
✓ It limits your financial capability. Financial strength is weighed based on the level of your financial growth. The level at which you improve financially will be the same level at which your competitors will reduce. As a business Person, your business profile is greatly increased when your net income increases rather than stay stagnant in one place.