Joseph's "Just My Thoughts"

Debt is not inherently bad; it belongs to someone else. The goodness or badness of debt depends on the circumstances, terms, and conditions of borrowing, and it is not necessarily negative. Debt should be acquired when I have a stable income or additional profits to invest, rather than for consumption . However, you should avoid using it for highly volatile investments, such as cryptocurrencies or stocks . You need to control the debt; it is considered good when you can manage it under conditions that allow you to repay both the principal and interest . The advantage of debt is that it provides the opportunity to grow faster than others in a competitive environment. Debt belongs to someone else. This is the key. - Joseph’s “just my thoughts”

The most common excuse for people who can’t save money is that they don’t have enough to spend. This is true, but it is also unacceptable. You don’t have enough to spend because you’ve pulled your future income into the present and spent it in advance. Taking a loan , getting an investment , and using a credit card all share one thing in common: they move future time into the present. There can be no investment that ignores the effect of time and no money management that does not consider time. Discounting the future means that there is no present income; instead, future income is drawn into the present and used. There is only one way out of this trap. Currently, the only way to reduce expenditure is through frugality . After that, you can only increase your income . - Joseph’s “just my thoughts”

Talented individuals are more likely to earn significant money in a short period than to generate regular, routine income. However, if they can’t establish a steady income from the substantial earnings they’ve made at once, they risk facing financial difficulties. This is why individuals who earn a large sum quickly need investment knowledge and experience . Understanding how to manage risks rather than just focusing on profit is the most crucial aspect of investing. The best way to mitigate or control risk is to anticipate the future; a steady income facilitates predictions, making risk management easier than in other scenarios. Therefore, a business should prioritize generating a stable income. - Joseph’s “just my thoughts”

One person gives freely yet gains even more; another withholds unduly, but comes to poverty. (Proverbs 11:24) This is a record from the Old Testament. It should not be interpreted as an endorsement of wastefulness. Wealth is not determined by the amount of income and expenditure but rather by purpose, relationships, and the timing of the purpose-fit-management. - Joseph’s “just my thoughts”