Personal Finance Management: If you find yourself in a hole!
Warren Buffet, the greatest investor that ever lived, said his brilliant quote that should be used as an ever-lasting principle, that will work every single time wherever you apply it.
He said: ** "The most important thing to do if you find yourself in a hole, is to stop digging"**
Let's take being in debt as an example:
You might be in debt like almost everyone now, and being in debt is very stressful.
Most people don't know exactly what got them in debt or what happened for them to reach such a bad financial position, and it's the real disaster.
Hopefully, through this series, we'll figure it out together, and solve your financial problems day by day.
Probably what got you in debt was your buying decisions, you buy things with your credit card when you don't have enough money to, it's even worse when these things are unnecessary products.
So now since you're in debt, you're in a financial hole, what is the first thing you should do?
As Warren suggested: To stop digging! To not make your financial position worse, and to stop buying things on credit, especially if you don't need it.
This principle as simple as it sounds, never fails, and if you put it into action, maybe your life won't change 180 degrees at once, but at the very least you won't dig deeper, and you won't get yourself into even worse financial position.
By not digging deeper you get to stabilize things a little and start getting out of this hole.
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