Steem4nigeria Accelerator Contest Week 150 :A Financial Mistake I made And The Lesson Learnt.
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I hope you are well. Thank you for giving me the opportunity to share my thoughts. The personal experiences with you. I believe that everyone makes mistakes in life. But what really matters is what we learn from our mistakes. Especially in financial matters. Our decisions often influenced by emotions, relationships and trust in others. I also had a personal experience. That changed the way I look at financial matters. I learn an important lesson from this experience. I want to share this experience and the lessons I learned from it with you besties.
What do you understand by financial mistake? |
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In my opinion a financial mistake is not just about. Someone spending too much money or investing in the wrong thing. In my opinion, a financial mistake is also when we make a decision about our money that we have not thought about well in advance and later we have to face loss or trouble because of this decision. Sometimes we make a financial mistake even though we trust others too much.
Emotions play a big role in the matter of money. When a close friend or relative of ours is in trouble, we want to help him, and at that time we do not think whether the money we are giving will be returned or not. We just think that the person in front of us is in trouble and we should support him. But sometimes this same decision becomes a problem for us later.
In my opinion, a financial mistake is not only related to wasting money but also to making the wrong decision. If we make a decision about money without research, without planning or just emotionally, it can become a financial mistake for us. That is why, while helping others with money, we must also consider our own financial situation and future.
Have you made a financial mistake before? Kindly share with us your experience |
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Yes I have also made a financial mistake. From which I learned a lot. Once a friend of mine was facing a financial crisis. He was going through a difficult situation and needed money. Since he was my friend, I decided to help him without thinking much. I gave him the money because at that time I felt that if my friend was in trouble, I should support him.
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It has been a long time. When I gave him the money, I had in mind that after the situation improved, he would return the money to me. But time passed and the money did not return. Initially, I did not say anything more to him because I knew that his situation was bad. I thought that when his situation improved, he would return the money himself.
But now after a long time, his financial situation is much better than before. He is also managing his household affairs well, but despite this, he did not return my money. This experience disappointed me a lot. Because the problem was not just about money. But also about trust. I helped him through a difficult time. But when things got better. He ignored my responsibility to pay me back.
That's why I now believe. That we should think carefully before giving financial help to someone
What lessons did you learn from your mistake and what advice would you give your readers? |
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The biggest lesson I learned from this experience is that. It is good to help someone. But you should not make decisions based on emotions. When it comes to money. I helped my friend when she was in a financial crisis. My only intention was to help her. I was sure that when her situation improved. She would return my money. But that did not happen. Despite the passage of a long time. She did not return my money. Although now her situation is better than before.
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This experience also taught me that not every person thinks like us. If we help someone sincerely, the other person may not necessarily understand our intentions and feelings in the same way. That is why now I will be more careful in financial matters than before.
My advice is that if you have to give someone money, first think about whether you can bear the loss even if that money is not returned. Do help someone, but do not risk your financial stability. Especially when giving large amounts of money, it is better to have a clear discussion and decide in advance about the return.
After this experience, I would not say that we should never help anyone, but rather, I believe that we should help, but with discretion. It is good to trust others, but it is equally important to be careful with your financial affairs.
Friends, this is my participation. I hope you appreciate it. I look forward to reading your valuable feedback.
I am tagging my friends so they can also enjoy participating in this contest @kouba01 , @ahsansharif and @ninapenda , @dove11 , @max-pro.
I just want to say THANK YOU for this beautiful moment that gave me peace and inspiration to write. The little things touch my heart. This remind me how beautiful life is when we truly stop and feel it.
Upvoted! Thank you for supporting witness @jswit.