Money has always been a risky business. Being keen on saving money is the right thing to do regardless of age or priorities in life. Still, many of us manage to take the wrong path and commit financial suicide when they less expect. To be quite honest, financial suicide is not something done in a minute – but through a period of time. In this case, you could always get back from it since you have plenty of time. If you want to know more about how to avoid commiting financial suicide, make sure to stick with us and keep an eye onto the following lines!
- Deciding to Have Children Without Being Financially Stable
Children are the most beautiful gift one could have on Earth. When it comes to money, a single child costs a fortune nowadays. If you don’t have the financial stability yet, there is no need to rush into having a child – make sure you can pay for them first. Since the apple doesn’t fall far from the three, you might not want him to inherit the behaviour. Such a decision is better to be taken with real care and thought for his future.
- Being Financially Dependent on Other People
Financial Suicide is well transmitted through the world through the dependance on other people. Family and relatives are always willing to help, still some of the worst conflicts in life started because of the lack of money – and because of the way of borrowing money. In addition, every time you borrow money make sure to always get them back on time and always, but always keep yourself away from doing the same mistake again and ending up borrowing money from others.
- Pay Debts Through Money Loans
Sooner or later, most of us will end up having at least one debt. Still, some of us might end up seeing their debts being almost impossible to pay, reason why the best decision would seem to be making a money loan. By doing so, you have just signed your life resignation, due to the fact that such a thing would make your pay bigger and bigger.
It is one of the most and well known way to commit financial suicide (if not only suicide…). Gambling is the easiest way to whether gain or lose money. Before taking up this idea, wonder if it is worth it.