Money Mistake that you should avoid

The real issue in online Businesses has to do with making money online, people tend to create over multiple blog, different niches and the rest just to get to the high mark of making a living from the internet or online business at large.

A friend was down-hearted and he complained to me about himself, he has tried different methods and doing such resulted him to been scammed, to short it short He Lost.  “How can I make money Online”? He asked me. What should I tell him? Well, I did not say anything much but this made me list some mistake you should mess with involving money.

I know that many of you might one way or the other done some wrong about it.

Money Mistake that you should avoid.

Error 1
Never spend money you haven't received. Don't even promise someone money based on a promise you have from someone else. Don't hear somebody say, "Ezra come to my office tomorrow at 9am and pick 2m" and you go and buy items on credit hoping to clear when the promised money comes. I know many of you, including you are fund of such.

Error 2

 Never borrow money with interest to start a business (except for salary loans); only borrow to grow your business. This is because business takes a long time to gain ground and begin making profit yet for most of the loans you begin paying back a month later or even earlier. Hence, never borrow to start a business expecting that business to be the one to pay back the borrowed money plus the interest.

Error 3
If you want to ever save, whenever you receive money ensure you don't start spending before taking out the savings hoping that you'll save what remains. Normally what remains is zero. And things to spend on even incite their 'relatives' while when money to spend is not available we naturally find a way of managing. So, keep track of that, learn to manage at all time.

Error 4

When you get an opportunity to meet a very wealthy person never ask for money. Ask for ideas on how to make money. That also includes Bloggers that are more experience than you, ask for idea and create out your own idea from them maybe from what they say, post, comment or publish. They can even choose to give you money on their own after seeing that your ideas are great, but let getting money from them never be your objective.

Error 5
 Keeping your seed instead of planting it. Many people stop at saving. It's very, very difficult to save and have all you need to maintain your lifestyle especially after retirement. When you save, your savings are seed; plant it. When you just keep it some seeds begin to die (eaten by inflation and the likes). That's where I recommend that you read about the different types of investment you can use to grow savings. I am not necessarily talking about putting the money in a business because you can easily lose money on a business. I am talking about putting it in an investment.

Error 6

Avoid keeping within easy reach money you don't intend to use in the short term - don't for instance walk with 100k in your pocket when all you plan to do in a day cost 20k.

 Avoid keeping money at inappropriate places eg in socks, under the pillow, in a pit, in the sitting room, in the bra, in a travel bag that you will place somewhere eg when in a bus..

Error 7

 Never lend someone money you are not willing to lose. By the time you lend money, be contented in your heart that should the person not pay, you will not die. You should not even lose the person as a friend. If you realize the person can fail to pay you and you are ok then lend. If you find you would even hate the person's entire clan, please advice the person to go to the bank.
 Never append your signature to guarantee someone on a financial matter if you are not willing or able to pay the money. Do I have to explain that one? No. It's self explanatory.
Avoid keeping within easy reach money you don't intend to use in the short term - don't for instance walk with 100k in your pocket when all you plan to do in a day cost 20k.

In Conclusion, Never dream of getting to the top without going through the step one after the other, do not over spend for what ever you're getting started with. Start with cheap Domain then go high when the prospect is high.


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