Image Credit: Google
Life is filled with experiences to learn from. This experience in life will shape how you see and do things. Experience is what you need to help grow in managing your money properly.These are the financial teachers you need in life.
This is a state of life unexpected economic downfall, bankruptcy, divorce, job layoff and many others. This is a really tough financial time for the person and a huge financial shock.This is also spending on romance which could wreak havoc on your personal or family financial situation. Its lack of proper planning to spend on your spouse later affects your financial life badly. This heartbreak puts people in situations they struggle to balance back because of the unexpected incident that happened in their financial life. In this situation, most times you need to start from scratch because you are struggling financially to make ends meet. You learn lessons from this bad financial situation and start moving on.
It's a state where you are eager but no money is available to take care of your urgent needs. This is a bad situation where you have no money to buy what you desire. You are most times left starving or go begging and borrowing to take care of yourself. This is a broken state as a result of habits, inherited nature or circumstances beyond you. People in this situation can be tempted to do the unthinkable because of the terrible penniless situation. When you overcome this empty pocket issue in life, you will have acquired good experience about personal finances.
This happens as a result of poor spending habits and no proper money and debt management.The small financial crisis that was not properly managed lead to financial failure. This can also occur when you experience huge losses in the wrong business and investment. This situation destabilizes people and put them in a struggling situation. This can also be a result of an economic and global issue that affects your finances. The financial crisis in the year 2,000 put lots of people in bad financial condition and some billionaires went bankrupt.
A man went into business after years of aimless search for a job. Four years later the business exploded making him very rich. He did a lavish wedding, lived in an expensive apartment, put his children in an expensive school, bought cars worth millions. When the economy was down, it affected his business badly and he started struggling, the business closes down automatically and he went bankrupt. He did not plan to expand to other asset class but spend more on liabilities, it destroyed his finances.
With these financial teachers, you learn more from life and acquire good experience to manage your finances well and prepare for any unexpected circumstances that can surface at any time.
Image Credit: Google
Content created and supplied by: RAWLINGS10 (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More