Would You Rather Go Broke Buying Assets Or Go Broke Buying Luxuries.

Don't get me wrong am not saying buying luxurious things are bad, you can buy them if you can afford them, without putting yourself in a compromising position.

For me I prefer going broke buying up assets that will secure me a better future than buying up luxurious and expensive things that might not be necessary at the moment or somethings you may nothing really need but just want it anyways that could later become liability to you and cost you more to maintain or repair, which could led you regretting it later.

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I think everyone should know their financial status and know what they can afford, how much they can spend on luxurious things, so they won't end up going bankrupt. That will make them start life all over from scratch.

There is a popular proverb "cut your coat according to your size" but these days it more like "cut your coat according to you material or cloth available"

Which means don't spend above your means, budget or bank account, so you don't go broke from over spending unnecessary things, spend on only what you have enough money to spend on and no more or don't spend on things you really don't need at the moment. I don't know may it's because I have always been conscious about how I spend my money because that was how I was brought up. From when I was really little, I like the idea of always having money so I can always be able to buy what I really need, so I don't buy what I don't need and I saved a lot.

But when I got much older, I still like the idea of always having money but there is a difference now, I don't just save money but I invest and buy up a little assets I can really afford, that will make me more money in the future, because I really love to be wealthy, I want to make enough money so I can take care of my family, future wife and kids, and give them the life they deserve. Make sure that they don't want for nothing and they are always comfortable, and am happy to say that I'm working towards achieving my dreams of being wealthy.

So I advise that you either get financially lessoning from an expert or read books or watch videos online, on finance which would help you manage your finance more, also let you know how to invest right and the right things to invest in.

For example imagine someone who bought Bitcoin with all he or she has as at when Bitcoin was $29K or at $40k, which were the lowest points of Bitcoin drop this year before the huge pumps, how much money do you think they have made now when Bitcoin is above $60k.

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Dogecoin Millionaire

Infact let me give a real life instant's Glauber Contessoto a crypto trader, who is now popularly know as the Dogecoin Millionaire, he invested all his life savings in February worth US$250,000 into Dogecoin and today his now a millionaire. Which to me was huge and smart investment.

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Hive is still a very good place to invest in, because to me have is highly underrated and the price is still low, because I believe so much in Hive and it potential of the price go pass $5 but I can't say when exactly that will happen.

But some youths today would prefer spend their last cash on buying the latest iphones, which would later depreciate in price over time or become a liability when it gets bad or crashes, when they know that they don't have any investment on ground that can give them the money they have spent and extra, that to me is not smart at all.

Thanks for visiting my Blog, if you see reasoning with me about what i have said in my post above or don't agree with me, please leave a comment below so we can discuss about it, I'm open to more knowledge and different opinions, we learn from each other everyday

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I was so broke earlier this year but that was because i invested everything i had. And when it paid out and i gave momsy over 50% of the payout, i saw the importance of saving cash. I'm embarking on that now with the HBD savings. I save an amount every week.

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Thanks so nice, current self I don't have much money in the bank, I Invested 95% of everything I have.

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Don't get me wrong am not saying buying luxurious things are bad, you can buy them if you can afford them, without putting yourself in a compromising position.

Most of people just to do what their friends are doing even if they don't have they will always want to get luxurious things at all cost..I love to read your post it inspire me alot..I will be looking forward to see your next post.

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