You are right if you think your life is martyrdom or life is beautiful in both ways. It will depend on the perspective in which you see things. It is the same when we make bad decisions.
Created Canva.com You are leaving your work, you have not eaten anything, and you know you have food to prepare, but in your pocket, you carry 50$. That is what you want to invest in, but you run into different food kiosks on the way. So in a situation like this, what would you do? So instead of thinking you have to get home to cook, you are tired and starving and forget that you want to invest that money. So instead, you give priority to your desire to eat on the street, knowing that at home there is enough food; the 50$ was to support, and that's what happens to the wrong financial decisions we make.
Because we have this mistake of making bad financial decisions
It is a big mistake that we fall. Most people make bad financial decisions, which often makes them regret their choices. Since we are irrational people, we always let ourselves be carried away by impulsivity, by what is in the moment of our mind and desire. It is like the example that we think first of satisfying our hunger before satisfying our desire to grow financially.
Since we love things in the present moment, as well as the said work to at least give me a taste, life is short, and we must live it. It is not wrong to live in the present, but we must also think about the future that awaits us. It is not that we will live anxious about the future, but if we want to see results in the present that we live day by day, we must pay some attention to our financial future because we will discount the future. After all, 100 $ today is not the same as in 1 year.
We must remember that to make financial decisions. We will always have the present of the time, as the future will do. These decisions must be important because we are preparing for the gift of tomorrow.
Fear of losing
It is a great boom that exists in human beings. We know the financial system is latent because there is always a risk. If you are Starting a business, there are risks, and finding a new source of income may involve risks. To see this word, the human there is an alarm ticking. Once the fear fills your head, it paralyzes any goal involving threats. It is a significant factor that makes us not make good decisions because we go for the emotions and feelings of fear without seeing or analyzing beyond the positive possibilities that may exist.
Created Canva.com Not having self-control
Self-control is vital in the financial system because sometimes we walk that we want to save. Still, there comes a time on an outing to a dive when you do not want to spend much, but you go with the mind that you will pay $10. But when you get to the dive, you see a girl you like. She watches you and sits next to you. What is your reaction? Your self-control vanishes, and you must spend the 10$ you had in mind. You spend more because you invite her to drink than to eat, and there goes the money you had planned for an excellent investment, but you continue discounting your future, making bad decisions.
Created Canva.com How to solve, we do not like to lose.
We must learn about the financial status. For example, we must know about inflation as every day, this economic phenomenon affects our money as we decrease. But we must understand that as well as inflation reduces our capital. There is another concept we must keep in mind compound interest; if you do not know what it is?
Compound interest is the interest of capital accumulating to make your money grow, double, and triple. It would be best if you learned it because you need to know this information to avoid losing money that can become a double investment. We must understand the essential parts of the financial system, where the reality is that we never learn it. For this being such a necessary tool in our lives, there should be a subject in school that tells you how to create your own business, not that you study to get a job, you work the dream of others.
Immediate gratification
We know that we are people who like gratification. It is like we want a pair of shoes, so we must do our homework and save 10% of our salary. It is like when we were children; we had to finish our homework before going out. So then, if we want a future of abundance, we must do our homework first, not receive gratification discount our future.
Created Canva.com So we must change and know more than just income and expenses because we are at a disadvantage when we do not know these great financial tools, which, if we know them, we can make better financial decisions.
Posted Using LeoFinance Beta
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