The most disturbing problem we encounter in our everyday life in the area of finances is having the ability to maintain and sustain finances putting it in a right use to produce a reasonable output. When dealing with finances it is essential to have a plan and stick to it but this necessarily does not prevent sudden happenings things change every hour and very difficult hardships may erupt anytime and distracting you from your main target to accomplish. these may arise by or caused by poor decision making, natural disasters and more some can be prevented if predictable you just need to be flexible and adopt any situation inorder to succeed. Let's navigate to the top 6 common hardships we face in our daily income rightfull use.
1. The love for luxury
Qoute the word"luxury" most people living in this 21st century have rapidly developed love for luxurious lifestyles both those who can't afford it also forcefully try to live to that expensive life and spend every penny hard earned to sustain the over whelming expenses this kind of decision making leaves one very volunarable to savings or investing in short duration of time one could be viewing no future in financial freedom.
2. Unpredictable financial and business losses
Losses always happen in business it arises due to multiple reasons, it could be due to poor decision making or unintended circumstances this affects your investments deeply so in such a situation, you have to adopt to it, re-establish and you could again return to the right track.
3. Family and relative's pressure
The pressure from family and relatives is so intense that if you have some of them who are really financially struggling and are aware of your progress the resultant result is to over depend on you in every aspect this makes it hard to make decisions and slows your investments be aware know what to give out and don't tamper with real investment capital in the name of giving.
4. Responsibilities
These are both for the unmarried & married responsibilities always never let you save or invest especially when your financial earnings are very low of which if you really need to secure your future investing and saving is the means inorder to make it try create various sources of income to both meet responsibilities and investment goals.
5. Politics
When you are progressing in business never involve yourself in politics especially in the opposition side they will always view you as a major target because having finances has power to collect supporters so take a decision whether to join politics or concentrate in building the business empire you wish to run because government can manipulate and destroy your earning sources indirectly
6. Difficulty in record keeping
Record keeping is one of the most stressful and difficult work to do especially in tracing business and financial records the moment you messup with some documents it's very hard to view how the business is performing.
Their more various hardships in financial management most of which are faced according to what area one is investing.
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