Consequences Of Not Having Financial Plan For Your Money

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1) Loaning money to other people whenever you get money, this makes you give away most of your money such that you end up having only the money that you will use in paying for your daily expenses, while lacking money that can help you in increasing your investments.

2) Paying people to perform simple tasks for you when you can do the tasks by yourself, this makes you to misuse the little extra money that you have instead of saving the money for future expansion of your business.

3) Investing all your money in one investment, this makes you over depend only on one investment for everything. This puts you at risk especially when that investment fails and you end up losing a lot of money and in the end become bankrupt.

4) Spending a lot of money in buying home requirements rather than the amount of money you reinvest in your business, this makes you have a lot of cash out than cash in, making your business to develop slowly and easily defeated by other business competitors.

In conclusion , the above are things which limit you from being able to generate more increases the chances of misusing a lot of money.

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