My Worst Money mistake

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Hello friends!!

What financial mistake hurt or affected you the most?

The issue of money and it's management has been a serious struggle even too me. I have made many financial mistakes in the past that really hurt me. Making mistakes is a part of life, it shows that we are only human.

I have made so many financial mistakes in my life but One of the financial mistake I have made that really hurt me happened earlier this year when a particular coin suddenly sparked up and was doing well.

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A friend called me and talked me into investing in that coin. I decided to follow what he said. I gave him all I had to help get the coin.

Long story short, I lost every thing and couldn't recover my capital talk more of make profit. I wanted to use the money to settle a project but here I was using it for something else, thinking that I would at least get double of the money.

How much did it cost you in money, time or peace of mind?

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This financial mistake cost me so much. I lost all the money I had at that time. Which was about 300, 000 thousand naira( 1,500 Steem).

Seriously at a point I lost my peace because I had deadline to meet the other need the money was actually meant to be used for.

For few days I could not sleep well but after a while I got better and checked off the bad energy.

If you could go back in time, what would you do differently?

If I go back in time, one of the things I would do differently is to ignore that particular investment advice that was given to me to invest. I would have told my friend to give me time to make findings about that particular coin.

Another thing I would do differently was to make proper research or consult a market analyst to really analyze what will really happen to that coin. I won't be too fast to invest in just any business I hear of.

Was it due to a lack of information, overconfidence, or a bad recommendation?

For me it was seriously a bad recommendation. Like I said earlier a friend called me and told me about the investment opportunity of buying and holding this particular crypto coin.

He spoke so highly of the investment and how it has risen in less than 24 hours. I even checked my crypto exchange and saw how the coin was doing well for its self. I got excited about the deal and decided to get into it too. And boom it went against me and my money vanished in my eyes.

What would you tell someone to avoid making that same mistake?

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My advice to anyone who wants to invest in anything is to really to be careful. Don't be moved by what people are saying.

Make a proper research and do not be moved by mere emotions or pressure.

Don't use money you can not let go or money meant for something very important to invest into a business you are not even sure of. Even if you are sure don't do it.

What positive lessons did that experience teach you?

The experience taught me so much. And I think I have listed them already. It taught me not to be moved by emotions or pressure.

I big lesson I also leant was never use money you have kept for something very important for an investment.

Never use money you can not let go for an investment because what if that investment doesn't work out as planned what will happen to you?.

Let me invite my friends to join this contest @okere-blessing @eveetim @sahmie