Sharing Daily Discoveries About Personal Finance And Business Topics

Making Too Much Money For Your Own Good

There just seemed to be a lot of articles out recently that talks about how people ranging from people with well paying corporate jobs to say lottery winners that always seem to have nothing left at the end of the day, so to speak. As usual, they got criticized about how they should have invested or saved it for certain things.

I always wondered in situations like these on whether or not the problem is as simply as people simply don’t know what to do when they have so much money and therefore are inclined to use it for the sake of doing so. Almost like have a table with more food than you can eat yourself where you will just eat for the sake of eating and then throwing away the leftovers cause you have too much.

Speaking for myself, I don’t really want to make money for the sake of making money per se. I always have a specific goal on why I would need that money and that is how it should be for the most part I say so that you don’t use it in an irresponsible way. For example, I’m sure if you were buying a house that would automatically give you a huge goal to work towards in paying off. Just making say $100,000 a year for the sake of doing so just encourages you to spend it on anything.

I would say it’s the same for building an income source like a business. If you just focus on trying to make money then if you do happen to bring in a lot then most likely it will be wasted just as fast as you made it. However, if you had a clear goal as to what you are trying to grow that business into then that gives you immediate places to direct your funds to in order to be responsible with it.


Leave a Reply

Your email address will not be published. Required fields are marked *

Loading...