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No amount of money can "outstrip" bad spending. Don't eat your seed.

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@tykee
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Everything about our lives is wrapped around habits. So having good habits generally would affect every part of our lives.

I wrote a post yesterday about Willpower and how it gets drained when used. Our decisions in life determine the results we get and our decisions can also affect the people we are superior to. As I mentioned in the post, Willpower is not something we have, they raise and go low in us, and that is why sometimes we make hasty decisions that hand us bad results.

In this time of the world, there are many things that can cause bad spending. There are many exciting things to spend money on and most of them are just things for fun and they do not really have a real value in our lives. I was surfing the net and I saw the review for the new iPhone 13 pro. It is really a lovely device and I would love to own one. However, I will find it a bit difficult to take out the fund for the device and pay. Although I have money enough to buy it, but it can serve better on investment that will give me more in the future.

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I had a conversation with a friend and he said he wants to sell off 2 of his cars. I asked why? He said, "they are simply liabilities." He wants to sell them and invest the money in Bitcoin and other cryptocurrencies. I smiled. That would definitely be a smart move for him. There is no point in trying to look rich. The goal is to be really rich.

I made some money this year on cryptocurrencies and at a point, I wanted to get a car, fix up my house, buy expensive devices and do lots more luxurious things. But, I paused and rethink, I was working for a company and I realised I have enough money to set up mine and make it perfect. I started by investing in some real estate, I bought some lands then I started setting up my company. I got an office at the most expensive and centre for business in my capital city. I set the office up(No fully perfect yet but getting better). Then, I start running the company. I did not get the car and the luxurious things I wanted to get. I used the funds on real estate, set up a business, and invest in cryptos assets.

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The business is only a few months old and there are results already. The car(s) and the luxurious things I want will still come but not at the expense of using the funds that I could use to make more. This is what many people get wrong. They want luxuries but they use their seeds to buy luxuries. The seed could give more.

There are many contents out there that address bad spending but I will list two things to avoid if you want to have results.

Do not let the pressure of those that are eating their harvest make you eat your seed.

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Avoid competition

This is the first problem many people have. Because your friend that has over $2,000,000 in his account buys some things worth $15,000, you that have only $20,000 will like to buy the same things to look rich like him. But when issues arise, the guy with $2m will have more margin for safety than the $20k guy. We need to understand that there are things we shouldn't buy because our friends are using them since our earnings are different and the things we need are different. Doing things like this make you poor over time.

Don't impress

There is no point in trying to look rich. Stay away from things that are beyond your capacity. Don't try to impress by spending beyond your pocket. Because no matter the amount you have if you take the path to impress and you keep spending beyond your capacity, you are only 2ft from being poor.

Sheryl Swoopes made over $50Million during her career in the WNBA but went completely broke because of bad spending.

Evander Holyfield is well known and he made lots of millions of dollars during his career as a boxer. His problem started with child support issues and he later went completely broke because of a lot of bad decisions. There are many people like these and this shows no amount of money can save you if you keep making bad spending decisions.

Thanks for the time!

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