Making money can be hard, but spending it comes all too easy for nearly everyone you know, including yourself. Forget for a moment that you spend your money on necessities, and think about all of the extras that people splurge on when pay day rolls around. Regardless of what you are buying, in today’s economy and with today’s prices, it doesn’t take long to burn through your bank balance. But when you run out of money, stress levels rise and something as simple as buying a morning coffee can become financially out of reach. If you want to hang on to your money there are things you can do, like come up with a budget and avoid using credit for everyday purchases.
But if you want to lose your money, here are five easy ways you can do that, as has been shown by the rich and famous:
• Overspend: it’s just that simple, buy more than you can afford to pay. This is one of the biggest ways people lose money, and is also one of the biggest ways to save money. If you stick to a budget and live within or below your means, you should not experience financial difficulty too frequently.
• Gamble: gambling is a popular way to lose money, because of its addictive qualities. Fortunately, there are organizations that offer help to people who have become addicted to gambling.
• Hire a nanny, or a housekeeper: these are great services if you can afford them, but when money is tight it is time to cut back on luxuries, and having staff on hand is certainly a luxury.
• Start a new venture: a lot of us dream of being our own boss, and venture out into the business world. Restaurants, boutiques and other stores are popular small businesses, and stars try their hands at these just as often as the rest of us; but not always with success. It takes a few years for a new business to turn a profit, and if you don’t have a stash of cash in the bank to cover overhead, starting a new business can cause you to lose your hard earned money.
• Investments: not all investments yield a return, when an investment tanks so does the money that was invested.
Of course it is not our hope that you go out and lose your money. This list is a short list of how easily it can happen, and if it does we are here to help. We can talk to you about bankruptcy, or other options to get back on your feet financially.
If you are considering filing bankruptcy to help eliminate debt, or want information on other options, contact us at www.DsouzaLegalGroup.com.