I deserve any shit because it's the 3th time I'm from hero to zero

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volk8787

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Dec 7, 2012
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Jacksonville
Not another thread posting random shit, this one is for real.

So I'm finally learning that I'm bad at money management. Sure, the crisis (not blaming the crisis anyway) made me remain with 0 profit. All I have earned I gaved to either debt I had either bills or day by day food.

Why I'm feeling like absolute shit is because I'm so bad at managing or investing the money. First time I made 15k$, solved all the problems I had that days, paid a big part of the debt, the mistake: I took a vacation with my family with the rest most part of the money (was after a stressful time, not an excuse anyway).

Second time, I made 10k$ across 3-4 months, again the debt I had of 6000euros, bills and the food made me get back to square one. This all happened in last 12-14 months. Now, two weeks ago I've spent the last bucks from 5k$ I've made in last 2 months. Business dropped for me (obviously because of some other mistakes) and I can't make it work again especially when I'm broke as shit and don't have a penny.

With that being said, long story short - I'm shitting myself on the mistakes I did, from money management to keeping the business for long term or creating other mini-businesses to earn me some bucks when first business fails. Had periods of stupid moods and I couldn't continue/build anything else, I guess I've watched how the business drops and how the money are wasted.

As guerilla said somewhere in this forum, hard moments teach you some valueable lessons.

Anyway, this thread is not some cry on my shoulders shit or blaming anything. See it as a rant from a noob who failed because of some mistakes. And I'm obviously posting this because wickedfire is the single best and honest community I know. If you turn an eye on other IM forums you will see huge marketplaces with a bunch of sellers building their rep, not much of a community if you ask me :)

Now I'm exhausted on how to make any fast money because fuck it without any money I can't get myself out of this and I can't create any "business".

Meanwhile, it will make me feel better to read about guys that struggled hard at some point and then succeeded. So if you want to make a lil noob feel better share your story, wise words or any advice you could have for fags that can't establish on a long success path like I do. Let's see if we can to turn this thread into something inspirational.

Anyway, I'm going to think how to get out of this and find the "power" to put myself back on track. I'm gonna hit hard and make shitload of money this time. I'm 10x times wiser now. 4th time will be of great success :)

And yes, I'm a huge faggot (for everything that happend and for the situation I'm in).
 
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Fuck this...

Learn how to budget.
(You might also want to learn and use a software called YNAB - You need a budget)

Learn how to build a RECURRING income.

Learn how to not overspend.

::emp::
 
Never spend any money. Everything you make is reinvested in your business. It's an investment in your future. You know this. Why are you spending money you shouldn't then? Are you trying to prove something? Think about this - the answer is the root of your problems.

For me, it wasn't the slightest problem living like a peasant even though I had good money makers. Why? I understood, and still understand that when you're small time every single dollar reinvested means a ton. Don't buy that t-shirt. Don't overspend in a bar. Don't buy a new computer. Rather put everything you make back in your business and double it. Then triple it.

You've heard of the metaphor how a butterfly can trigger a storm on the other side of the world? Well what that means that even the smallest things can have a huge effect in the future. That money you spent on your family? If you reinvested it in your business you might not be where you are right now. You spending your money recklessly isn't just recklessness, it's literally killing and heavily sabotaging your future. Think of it this way... those smaller amounts of cash are seeds that will grow in to something huge but you keep throwing the seeds away instead of planting them.

How to find the power? That's easy. If you want it enough you have plenty of power to restart and work hardcore. If you can't - well I got bad news for you buddy: you simply don't want it enough.

Also, don't think of it "I'm gonna make a shitload of money this time" but rather think of it as a long term commitment to work intelligently on your business. It's not a sprint, it's a marathon.
 
Anyhow.. thing with YNAB is.. it comes with an epxlanation on HOW to manage your budget.

Follow this.

::emp::
 
I am not going to be hard on this guy.

Most financial experts tell you that if you're in debt ( which this guy was multiple times ) the first thing you do is pay off the debt. I think the OP did the right thing.

Only thing questionable was the vacation. However, if you haven't been on one in years ( I dont know if he has or hasn't ), then spending his money on one with his family could have helped him out mentally.

The real problem I see is why in the last 12-14 months have you only made $15k 1 time, then 10K over 2-3 months, then 5k? From what you told us, you only made $30k for a full year, is this all you bring in? And why is it in spurts? You make it seem like you go months with $0 month and then have $10k fall in your lap and then back to $0 month again. Also, did you put any money back to pay taxes on that income? most people I know in your situation do not, then get fucked at the end of the year.

The real problem I see is that you don't have a money management problem, you have an income problem. $30k a year paid in spurts will barely do anything for anyone, no matter how good of a money manager you are. You need to make MORE money on a MORE frequent basis. Until you can handle this, don't bother saving, starting, or reinvesting into any business. Get your personal income up and steady. Once you do this, then worry about money management, then worry about a business. You can't be a good money manager if you have basically no money coming in.
 
I just assumed he still has an income of some sort.

But yeah... splurging on a vacation when you only make 30K a year is stupid.

::emp::
 
eliquid said:
The real problem I see is why in the last 12-14 months have you only made $15k 1 time, then 10K over 2-3 months, then 5k? From what you told us, you only made $30k for a full year, is this all you bring in? And why is it in spurts? You make it seem like you go months with $0 month and then have $10k fall in your lap and then back to $0 month again. Also, did you put any money back to pay taxes on that income? most people I know in your situation do not, then get fucked at the end of the year.
Click to expand...


Nigerian Princes don't go around dying every day, you know?
 
Guys (JoseArmando) I haven't posted this thread to hear "why you've been to that vacation" bla bla.

I obviously can see myself the mistakes I've made, what I need to do next time and so on.

Posted this to hear some of the stories you guys have, how you've hustled to get to the top or to get back to the top. Even if you haven't got any bad times then just post your good story :)

It's not that I do 30k/year. I'm not employeed to any 9 to 5 to have a job (not that I want to), I'm an affiliate/internet marketer/entrepreneur/investor (whatever you want to call it) like most of us and the harder I work the more money I make. It seems I had that mood for a long time that made me feel like not doing anything. Also I earn few thousands across few weeks/months because that's the business I have, as I said I'm not into some secured job or having anything built up. I see the opportunity, I act on it and there I have my money. I thought that's what you've guys done till you achieved that long term passive income or stable money making business.

eliquid is damn right, I need to make more money so I can erase the rest of the debt (which is kinda little now)
 
There is no magical long term passive income. That is one of the biggest and most persistent lies in this industry.

This industry is for all intents and purposes less than 15 years old. Adsense hasn't even been around that long. No one has built an enduring online passive income because the internet hasn't even been around long enough for anyone to do so as a case study.

People who develop steady, persistent revenue do it by building a business. Not by making a new BST thread every month, or by changing campaigns every quarter.

This is just my two cents, but your mindset is wrong. You've got a lottery mindset towards making money, instead of a builder mindset.

When you decide to create a business, invest yourself in it, commit to seeing it through to success and finally getting some momentum behind you, then you will be on your way.

Or you can keep trying to win the IM lottery every 3 months.

Your call.
 
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