The 15 most unusual ways to run out of money

Everyone dreams of winning the lottery and being rich and spending their money on everything they want, but money like anything else comes to an end, so you must be careful where we spend it and be responsible.

Financial security is determined by the decisions we make each day throughout our lives. In this way, if the correct ones are not taken, they can lead us to bankruptcy.

There are several unusual ways that we can lose all of our money . Find out which ones they are to prevent them from happening to you.

Maneras inusuales de perder dinero

15 unusual ways to run out of money

1. Obtaining an inheritance

Some people who inherit money spend irrationally . Some examples are impulsive shopping trips or going on vacation, among other activities. These types of people, after receiving an inheritance, want to buy everything from yachts to mansions that are completely out of their budget.

Not being able to separate rational thinking from short-term decisions is one of the ways to go bankrupt very easily.

2. Win the lottery

Winning the lottery is supposed to be the key to financial freedom, yet 44% of lottery winners end up bankrupt within 5 years.

Some think that it would be better if some of these people had not won the lottery, and suddenly they receive huge amounts of wealth that they do not know how to assimilate.

Ganar la lotería y perder todo el dinero

3. Create a business without the necessary knowledge

There are couples who have had a great deal of money and other family members have convinced them to do great business; However, if these businesses are started without the knowledge or supervision of a financial professional, they can fail because the money was not invested in a proper way.

4. Play with money

For some people, gambling is a form of entertainment; however for others it becomes an addiction. It’s no surprise that gambling addicts don’t have savings or invest their money well.

5. The entrepreneur syndrome

Many financially successful people go bankrupt trying to get richer, this is because they have no experience of how to run a business and at the same time how to manage and invest money. This is known as the ” entrepreneur syndrome .”

Maneras inusuales de perder dinero

6. Go to jail

Going to jail definitely leaves people bankrupt due to home loans, child support, and other unpaid debts. This can cause a person to lose everything.

7. Divorce proceedings

Divorce sometimes leaves one or both of you involved in bankruptcy, as you often have less income and higher expenses when you live apart.

8. Bad business partners

Choosing a business partner is very important . If a bad choice is made, you can go bankrupt without hesitation. Therefore, you should look for a responsible and expert person in the field of the specific business that is carried out, if not, you can be in debt for life .

Prestar dinero te puede llevar a la quiebra

9. Have an addiction to cocaine

Some people start using cocaine for fun, but it is highly addictive and many people end up wanting more and more. This can certainly bankrupt these people who spend all their money to get a little more of this horrible drug.

10. Dog bite lawsuits

On average, dog bite lawsuits are getting higher and cover damages as well. Owners of insured or uninsured dogs must pay for all damages incurred, so caution should be exercised to prevent your pet from causing harm to third parties.

11. Open a restaurant

60% of new restaurants fail in the first year and 80% are close to failure in their fifth year. These failures leave a large number of people bankrupt and owning an empty restaurant building leaves a person in financial disaster.

12. Invest in independent films

Investing in independent films is a game of chance. Many people lose large amounts of money, as those who do often believe in the film and the production, yet they are not thinking of real channels of profitability.

Formas extrañas de perder dinero

13. Excess plastic surgery

Excess plastic surgery consumes a large amount of money, since after the operation a series of quite expensive procedures must be followed. Also, if people end up obsessed with it, they can go into debt all the way to bankruptcy .

14. Music career

There are many people who dream of doing great business in the music industry and it leads them to make serious financial mistakes. It should be taken into account that to invest in this field must be spent on hiring composers, producers, music career engineers and much more.

15. Don’t pay taxes

There are many people who owe back taxes for many reasons, ranging from honest mistakes to tax evasion. Many times, the state agencies that claim your money can offer you facilities to collect the back money, but if you deceive them, do not adhere to their payment plans or ignore the collection attempts, they can take the necessary measures to recover the money. money and bankrupt you.

Reference

  • Michelle Smith, 49 Weird ways people go broke. For Money [Revised September 2016]