Don't ever make these mistakes

Don't ever make the mistake of buying these things before you achieve financial freedom.

This article is not for the people who have their net worth above 1 crore rupees. If you have more money than this you may buy whatever you want.

1. Avoid buying at all cost is an expensive smartphone : 

The first most recommended thing that you should avoid buying at all cost is an expensive smartphone. Or basically the ones which are worth over 20 K.

Now a lot of people might not agree with me but it's true. Surely that expensive phone has a lot to offer you than those cheap ones but have you ever thought that all those additional things are of no use to you. You have been fooled to believe that the new smartphone has some mind boggling extraordinary features and you should surely buy it to enhance and upgrade your level. In reality it has no relevance to the life you living.

And even though if you still want to buy it because you are passionate about them then at least keep in mind your budget. I have seen a lot of people who are earning around 20k to 25k per month but are using the phones worth over 30k.

And there is one more factor there are people who are buying iPhones , Macbooks and such expensive unnecessary gadgets just to show off in front of others that they have them.

Also I would like to include all those expensive watches, branded shoes and those LEDs.

2. The second thing on my list would be designer clothes.

Yes those expensive designer clothes that you wear have nothing to do with your personality. Your personality and the clothes you wear a totally different things. The the way you wear your clothes regardless of the brand , matters

Nowadays wearing expensive branded clothes has become a status symbol. The ones who don't buy clothes from Levi's or Zara or such brands are considered poor.

Stop buying liabilities. Save your money instead and later use it for some meaningful purpose. Stop trying to fit in the crowd.

3. Never buy an expensive car. 

 They truly think that they NEED a car and not just a car,an expensive one. 

Now listen to me very carefully if you are in the way of becoming a millionaire then buying an expensive car is your worst financial mistake. It is a freaking liability.

Because when you buy a car you also bring up the additional expenses that you are going to make for example if you buy an expensive car then you have to pay for its maintenance, insurance , the gas bill, and the repair work.

And still even after paying so much to your car you your car is going to lose its value after time.

Yes the moment your new car leaves the showroom and reaches your home it looses about 11% of its value according to a study,not only that after one year of buying your car your car will lose approximate 35% of its value and you would be still paying to it. The car which you bought at 10 lac rupees, after one year its value will decrease to just 6 to 6.5 lacs regardless of its condition. Change your middle class mentality. Instead of buying an expensive car you can invest the same amount of money and generate profit from it and then you can buy whatever you want from your profits.

If you have about 1 crore rupees and you buy a car worth around 35 lac then you are nothing but a stupid person. Surely you can afford it but still you can use that money much better.

4. Never take a loan to buy a new house.

Now I can understand this. Everyone wants to live better. Now you may be very much excited and pre planned about buying a new house since a long time but make sure you buy it with your own money and avoid taking house loans at all costs.

Understand it by this example.

Suppose there is a man who is around 27 or 28 years old and desires to buy a new house. His savings are not that solid and he goes to take a heavy loan thus he chooses to be in debt.

Thus in his golden 20s and 30s the time when he should work the hardest to save and invest his money increase his assets so then he can achieve financial freedom, he is running that time just to live at a new different place.

When he will be done paying off the loan with huge interest, he would have come to an age where he would get less opportunities and still would have a lot of bills to pay.

Don't do that mistake. If you want to buy it then do that with your own money. If you don't have that much money then better wait for sometime, have patience and learn new ways to make money.

___________________________________________________________________________________

This is the additional one : Remember if you desire to become a millionaire by 35 then avoid all the unnecessary things that most of the people buy such as expensive watches and all other electronic devices and basically all the things that are of no use to them . Instead buy the things enhance your skills.

You don't need to visit McDonald's and KFC is every now and then. If you sum all that money up then you'll see how much unnecessary expenditure you're doing.

There is a disbelief among a lot of people that the time between your 20s and 30s is the time where you should enjoy your life the fullest,create memories, fulfill all your dreams ,do whatever you want etc

And this is where many people and this is where many people fail you don't need to do that that is the worst advice ever.The third decade of your life is the decade of Hustle the time where you should work your hardest so that you can live the remaining part of your life the way you desire.

Still if you want to live the way you want and don't need any advice from someone about how to use your money you may continue but remember there's a lot more you can have if you spend your money properly. You just you just need a long vision.

Share if you like and if you disagree with some points you may write it in the comment section.

Thank you for reading.