Common teenage financial mistakes

- Even though your house isn't an asset, its better to have it, because:

-- it's better to have the place where you can purchase all the means of convenience like washing machine, air conditioner, better fridge and many other stuff.

Can't miss the next payment.

What happens when you miss it?

When you have a family and friends this question may still wonder you. One of my friend few months ago got 5 credit cards and he was spending all of his money so easily like it was his own money. He spent thousands of dollars. When her mom found out about it, she cried. Since he was the only son, she helped him to cover his loans, since he was out of his job. His girlfriend left him, he haven't understood - why he thinks now that she is guilty for leaving him in trouble since he was spending all of his money on her and when he got problems with job he found out that his girlfriend did it all not because of feelings, but because of her commercial mindset.

He explained to me his behavior this way: "Earl, I don't know what being in financial trouble means

...

But now I know! It means that I will get even more money returned (from his mom) on my credit card!"

Really why bother with earning money, when you can get it so easily?

In the case with history mentioned above - there's the real person for whom the only measure of trouble is calculated with  tears quantity of his mother.

How many tears you got of your friends and relatives?

I don't have to answer this question because since 10 years old me and Mom  lost any support, that's kinda stretched to minimum our circle to whom we can rely on. Her parents was really helpful but few they also wanted her to have some responsibility, that's why they tried to stop her from returNing to their house.

I've many times during the childhood were left on my own, that made me someone who's better wont rely on anybody's help. Because usually this help are coming at highest costs than you could provide to yourself.

Of course if you have someone who's fool enough to support you for free, then you're lucky. But be cautious because in this case you are someone who deceives. And even the most foolish people are willing some favor in return.

Such favor which you probably can't afford.

The tough rule here is that:

You'll pay one way or another

Do you know what is the source of your favor? If the source of your favor is one name, then it is your business model. You'll be okay, only if you know what you gonna do when this person will disappear from your life. Many economically successful people don't rely on favor of one person's favor. And that's all I know that it's a best thing to do is never relying on one person. One person requires loyalty because you're in the zone of his/her favor. And that's a huge disappointment for those who thinks that it will last forever.