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Insolvency – Advantages and Disadvantages of Irrespective of Currency

  • 5 min read

The huge flow of liquid cash has made our lives much simpler and easier than what it was previously. Gone are the times when we have to struggle for days together and go through it by sheer hard work. There have been many people who have made both huge and small fortunes in today’s dollar-less world. Why don’t you become an example of such lucky people and make a pile of money till the age of 90 years old, then you can enjoy the peace of your life. Liquid cash in banks, in investment and shares, no need for wire transfers or money orders, no IRS forms and little difficult dishonest lawyers. No longer there you have to struggle and be afraid of never becoming rich as many rely on such amenities and articles related to investment.

Table of Contents

Rule 1: Never follow the Jones’

A: This is the modern-day fallacy. They will only tell you their story but it isn’t reality.

Rule 2: Avoiding and solving your debts is the correct way to go.

A: If you owe me money, I should be your friend, not your enemy.

Rule 3: All rich people are ruthless and cut their losses.

A: Nothing is free. You pay for everything including time and conditions.

Rule 4: Don’t play the media game.

A: In today’s information age, the media give you what you do not need and you pay for it.TV takes 1.5 billion daily so you don’t need 1.5 billion TV dinners. Once in a while, you try to educate yourself but just the same you come out losers.

Rule 5: Ignorance is not an excuse.

A: Knowledge is power. One man with a single arrow can penetrate through a difference of millions of obstacles, and when you learn how to do what is right, you will become rich.

Rule 6: Literacy is the first and main virtue.

A: If you know something, you make a living.

Rule 7: Never wait for the right time to come.

A: Discipline is the harsh reality of our existence.

Rule 8: Avoiding and eliminating your debts and financial commitments.

A: Let your debts pass and avoid creating more.

Rule 9: Education for your children does not cost you anything.

A: Any schools that are right in your locality are free.

Rule 10: Put your money in banks and investment books: Property, shares and the rest will perform outstandingly.

A: People’s Banker is the best person to take advice from.

Rule 11: Time is to be treated with care.

A: Do you understand what time is?

Rule 12: Never, ever give you hard times.

A: Nothing feels worse than going to work with no money and having to see your wife and kids in the same week.

Rule 13: Work hard but at the right time.

A: You must have a job to pay your expenses.

Rule 14: “Never partners with nobody”

A: You would be competing against millions of people.

Rule 15: Never lose your peace of mind.

A: Even if the market prices are down, still trade with clients.

Rule 16: When you cannot be in the market, trade with a friend.

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Rule 17: Look at failures as a challenge and an opportunity to learn.

A: There will be another opportunity, just wait for it.

Rule 18: Think about the people around you, not your emotions.

A: Those dealings with the public.

Rule 19: Never lose your head when it is time to make a deal.

A: Rise above the sometimes mincing words of your associates.

Rule 20: Never give up when you have a winning outlook.

A: Keep the gains and remain focused.

Rule 21: Knowing when to stop is the most important lesson for traders.

A: Never take a risk that is beyond your capabilities.

Rule 22: Through all the losses of your life nothing is constant.

A: Rememberaches are temporary. You know not what will happen tomorrow. And so, you must stay away with your mind and stay positive right up until the day is developed.

Rule 23: The markets do not know you are there. The profit is not in your hands.

Rule 24: Financial markets can be unpredictable.

A: Nothing happens instantly. Companies, instruments, and securities are not there to help you. Payments for loans and advances from banks, insurance companies, mortgage companies, and others are not instantly accruing to your accounts.

Rule 25: You are your biggest financial asset. Most people would have to pick themselves up to take losses after a big win. This is amazing to hear but most people do not understand this.

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