Wisdom To Consider in Finances
Updated: Sep 17
The following is a few words regarding having and keeping finances. Since money is one of the most important things in the world, due to survival, I think this list should be most relevant to anyone who has a bank account, credit cards, and finances of one's own, in general.
1.Keep a physical list of all your passwords in case you don't remember them all. That way, it should be easier to protect your various accounts, including your credit card and bank account. No one wants their credit card data stolen by suspicious people.
Also, make sure your list is extensive enough, so it will not match a password in another account of yours. In case you keep too many identical passwords, you increase your risk of being hacked. I don't have any numbers on that right now, but it seems very easy to lose one's password nowadays, and even more, to have one or two passwords. That notion is a dangerous one, so take that close to mind.
2. Take loans only when necessary/no other choice. The deeper you'll find yourself in debt, the harder it would be for you to get out of it. Debt is like quicksand, as it easy to sink in it. You should not take loans for your addictions, because then, it only shows how your addictions cost you.
Also, take loans from credible sources, not from loan sharks or random people whom you don't necessarily trust. It's far better taking a loan from your bank, while making sure you can also afford the interest, added to it. Don't just choose whatever loan because you need the money; try making sure you'll be able to return all that you've taken and required to pay in addition.
3. Don't put your valuables in your pocket/s because they could be stolen by pickpockets. I myself never liked wallets because I find them counter intuitive. I usually just put all I need in a far bigger container; in the very rare times I exit my apartment and my city in general. As long as you carry your pack or any other, bigger container, it's far more difficult to have it stolen than it is to steal something small like wallets, ID cards, phones and so on.
And to put it all in a wallet is like putting all of your eggs in one, easy-to--take basket. The risk here being not only the ability to steal it but also your potential lack of awareness when the stealing occurs. No one wants their credit card in a stranger's hand.
4. Don't buy something just because "everyone else" buys it. The fact that many people buy something specific, does not mean that it's good, functional or even worth the money. We should look at a product by itself, and not by its popularity gained from its consumers. I only got my first smartphone in 2016 because my mother replaced it without asking me (I was in high school at the time). If it weren't for her decision, and if National Service would not ask me to download a certain app at the time, I would not buy a smartphone.
I don't like smartphones not only because they are very expensive, but also because I just use them for calling others... Which is something I could've done without the "smart" part of the device. Maybe one day I will down-grade this phone.
5. Avoid gambling at all costs for a steady life. By gambling I refer to betting with your money, of course. It might give you some thrill at the time, but it has the power to destroy your life, too. With gambling, it is quite easy to lose a ton of money, especially if you're rich and if you're addicted to it. Those who are poorer than most should avoid gambling even more as that could send them from their apartments, to live in the streets.
6. Save your money, for it could be crucial one day. Who knows? Maybe you will need it for something you require doing but can't afford, such as paying for hospital bills. Maybe you will accidently go over the law and be required to pay a fine as punishment. Maybe your landlord or landlady will decide to raise your rent, and you'll need more money to pay for your home. Since life is uncertain, and especially the future, be prepared not only mentally but financially.
7. If you are going to get married, consider signing a prenuptial agreement. No one should be offended by this possibility, because any couple could get divorced one day. Because of this, both of you need to consider which belongs to whom, and that includes money, too. That way, should you get divorced, the process can be far, far less stressful, exhausting and of course, costly financially.
Since writing this exhausted me, I will stop giving you more tips for now. If there is anything you'd like to say, feel free to do so in this site's comment sections, in an e-mail, and as of now, in a comment on Quora and other social medias. Be mindful of the fact that reading a lot is something that is too much for me as I suffer from chronic fatigue. I will try reading, of course, just don't make it too long if possible. Thank you for your attention, and I hope I contributed.