Things you shouldn't do with your money to grow rich or advance in life

[DrBeer]

The wealth of each of us is the difference between our income and our expenses.

Accordingly, wealth is formed by: growth of income, reduction of expenses or both growth of income and reduction of expenses.

And here everyone chooses his own model of realization, because there are no universal solutions.

Yes, and what is very important - you must keep a record of your income and expenses, believe me this simple and accessible mechanism (even on paper, or in Excel or GoogleTab), will allow you to see the real situation of your income and expenses, and to understand where you have "weaknesses", which should be paid attention to

[Rruchi man]

Yes, and what is very important - you must keep a record of your income and expenses, believe me this simple and accessible mechanism (even on paper, or in Excel or GoogleTab), will allow you to see the real situation of your income and expenses, and to understand where you have "weaknesses", which should be paid attention to

There is another essential tip for growing rich and advancing in life, and it is controlling your habits. Every individual has a particular habit—something that they like so much and can lavish money on unapologetically. It could be love for clothes, jewelry, tech devices, drinking, womanizing, smoking, gambling, etc. If a person is unable to control their habits, it will put a very big hole in their pocket financially, and they will not be able to keep money regardless of whatever they earn.

[0t3p0t]

Yes, and what is very important - you must keep a record of your income and expenses, believe me this simple and accessible mechanism (even on paper, or in Excel or GoogleTab), will allow you to see the real situation of your income and expenses, and to understand where you have "weaknesses", which should be paid attention to

There is another essential tip for growing rich and advancing in life, and it is controlling your habits. Every individual has a particular habit—something that they like so much and can lavish money on unapologetically. It could be love for clothes, jewelry, tech devices, drinking, womanizing, smoking, gambling, etc. If a person is unable to control their habits, it will put a very big hole in their pocket financially, and they will not be able to keep money regardless of whatever they earn.

For me jewelry is good as it can be an asset especially if it was made out of precious metals and precious stones. But what you have said is really I think the most common reason why people messed up in life it's because of bad habits and lifestyle. They tend to prioritize wants rather than their needs so that will surely drag them down in the long run. I personally learned that lesson the hard way to be honest.

[DrBeer]

Yes, and what is very important - you must keep a record of your income and expenses, believe me this simple and accessible mechanism (even on paper, or in Excel or GoogleTab), will allow you to see the real situation of your income and expenses, and to understand where you have "weaknesses", which should be paid attention to

There is another essential tip for growing rich and advancing in life, and it is controlling your habits. Every individual has a particular habit—something that they like so much and can lavish money on unapologetically. It could be love for clothes, jewelry, tech devices, drinking, womanizing, smoking, gambling, etc. If a person is unable to control their habits, it will put a very big hole in their pocket financially, and they will not be able to keep money regardless of whatever they earn.

And you're right about that. We have a lot of habits or desires that can be both destructive (financially) and financially attractive !
For example - I have a hobby since childhood - numismatics. When I just collected coins from all over the world, then I got interested in antique coins. A couple of years ago I again "returned to childhood" I started collecting again. But now it is only expensive rare coins, silver and gold. For example, I do not buy coins, which circulation is more than 3000 copies, if we talk modern. I don't buy simple silver/gold ancient coins - but only rare ones.

Or like whiskey Once I didn't understand it at all, but then I tried some really tasty whiskies. Try for example The Glenlivet 25 years old, and you will realize that it is in some way a work of art, but alcoholic.  At first I was just buying to fill the bar at home with "tasty" whiskies. Then I realized that some varieties become more expensive over the years. Now I have a small but quality collection of whisky, of investment nature

But if I just buy whisky and drink it every day, even "collectible" - it will not bring me benefits, but only undermined health and high costs for the daily intake of whisky