14 mistakes that you must avoid if you want money to last in your hand forever [MUST READ]

Money is a source of joy and not joy itself, money in order hand as popular defined stands as a general acceptable medium of transaction.
Money can be anything, your clothes can be money, even the service you renders to people is also money, though people do think its only papers and coins and that is money.
Have you ever come across someone that will be sharing sad testimony saying: "he/she has money before, but unfortunately it got vanished"

The truth here is: something valuable don't last forever if not well maintained, we hereby bring forth 14 useful method or means to avoid repeating the same mistake others made in monetary aspect of their life.


Kindly glance through the below as you get it in details. remember to drop your own suggestions after reading, also share to friends.

1. Never borrow money with interest to start a business (except for salary loans)
Only borrow to grow your business. This is because business takes a long time to gain ground and begin making profit yet for most of the loans you begin paying back a month later or even earlier. Hence,  never borrow to start a business expecting that business to be the one to pay back the borrowed money plus the interest.

2. Never spend money you haven't received
Don't even promise someone money based on a promise you have from someone else. Don't hear somebody say, "Ezra come to my office tomorrow at 9am and pick 2m" and you go and buy items on credit hoping to clear when the promised money comes.

3. If you want to ever save, whenever you receive money ensure you don't start spending before taking out the savings hoping that you'll save what remains. Normally what remains is zero. And things to spend on even incite their 'relatives' while when money to spend is not available we naturally find a way of managing.

4. When you get an opportunity to meet a wealthy person, never ask for money
Ask for ideas on how to make money. They can even choose to give you money on their own volition after seeing that your ideas are great, but let getting money from them never be your main objective.

 5. Keeping your seed instead of planting it
Many people stop at saving. It's very, very difficult to save and have all you need to maintain your lifestyle especially after retirement. When you save, your savings are seed; plant it. When you just keep it some seeds begin to die (eaten by inflation and the likes). That's where I recommend that you read about the different types of investment you can use to grow savings. I am not necessarily talking about putting the money in a business because you can easily lose money on a business. I am talking about putting it in an investment.

6. Never lend someone money you are not willing to lose
By the time you lend money, be contented in your heart that should the person not pay, you will not die. You should not even lose the person as a friend. If you realise the person can fail to pay you and you are ok, then lend. If you find you would even hate the person's entire clan, please advise the person to go to the bank.

7. Never append your signature to guarantee someone on a financial matter if you are not willing or able to pay the money. Do I have to explain that one? No. It's self-explanatory.

8. Avoid keeping within easy reach money you don't intend to use in the short term - don't, for instance, walk with 100k in your pocket when all you plan to do in a day cost 20k.

9. Avoid keeping money at inappropriate places eg in socks, under the pillow, in a pit, in the sitting room, in the bra, in a travel bag that you will place somewhere eg when in a bus..

 10. Spending money on an item that you can do without (at least for the time being)
These days when I pick money from my pocket, before paying for something I ask myself: What would happen if I don't buy this? If I find I can live with the consequences of not having that thing, I smile and walk away.

11. Paying an amount  not the minimum you can get that same value for
In other words, if you pay 70k for a shoe at Shoprite that you can get at 30k at Mandilas/Broad Street. Friend, that's a money mistake except for those who have achieved financial freedom.

12. Wanting to be the saviour  of the world by helping with everyone in financial need
My sister, brother you are not Jesus. If you find it so hard to say 'No' to a financial demand, you may think you are practising  generosity when in actual sense you are practising  committing (financial) suicide.