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RE: Before you spend, Save and invest : money management principle that keeps always debt and poverty

in LeoFinancelast year

I liked the article overall but a couple of things I would mention.

Two things really stood out to me:

First: I'm not sure it is fair to say that a virtuous, humble person turned bad overnight because he got a large sum of money. Many people who have no money do not know how to use money wisely. they haven't been trained with it! When they get money they finally have the ability to do things they have always wanted. Buy the items that are advertised everywhere. Get respect from people in power because they have money. Taste food they have never tasted before because it was too expensive. Shop in stores they couldn't even think of buying anything in when they had no cash. Help out neighbors who are struggling that they were powerless to help before.

Of course they will make poor choices. It's like my son on his first day driving. He's seen me drive all the time so he thinks he can do it. However, his first day behind the wheel its a horrible experience because he is terrible! Same thing when a poor person suddenly has money. Sure they think they can handle it but really....no.

Second:

" that wealthy people understand and this is means to Spend only incomes left after investing"
. I know some wealthy people and some rarely if ever invest. I know others that spend way too much and will eventually end up poor. I know others who "Have Enough" and rather than invest more to make themselves even more rich they give more away to help others.

Wealthy people are as diverse as poor people. Investing first is GREAT advice but not a character trait of all wealthy people.

and

Third: Where is the rest 😁 It was a great start, but there is much more to be said! Hmmm... I think I know my next post topic 🤔

Just my thoughts :)

Thanks for writing and I really did enjoy the article.

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Oh wow, I like your point of view.
It hurt less to understand things from different peoples perspective.
Wealthy people do have a damage of choices on what to do with their money just like every other person.