Issa Asad Terrible Business Habits That Made Millionaires BROKE
Issa Asad Florida
Millionaires are popular for their good habits like proper planning, wisely spending money, educating themselves regularly, waking up on time, and following all healthy habits.
“But there also are some millionaires who do not follow such good habits and end up landing in a mess,” advised Issa Asad Florida businessman, entrepreneur, and social media expert since 1996. Mr. Asad is the CEO of Q Link Wireless and Quadrant Holdings, located across South Florida.
Here, Issa Asad shares terrible business habits that made millionaires BROKE:
1. Not Keeping Track of Expenditures
No matter who you are it is important for you to maintain and follow a budget. It is, in fact, essential to keep track of every penny you spend. Even those little costs that otherwise seem unimportant must be given attention. This is a habit that is followed by most millionaires, but those millionaires are on the verge of getting bankrupt do not follow this habit. They, in fact, will not be able to tell you where and why they spent a certain amount, and nor do they care to go through a grocery store, restaurant, or other bills to check if they have wrongly been overcharged. Ultimately, such millionaires end up wasting a lot of money that a little tracking could have saved, and are then left broke.
2. Expensive and Emotional Purchasing
Millionaires, who are about to be bankrupt, have this strange habit of emotional shopping. For instance, they might have had a fight with their girlfriend/spouse and then they start online shopping even those things that are expensive and they do not need, or they might be sad about something and prefer not to cook and instead order food from a restaurant. Millionaires are generally very careful with their expenditures and avoid emotional purchases. They look for bargains, and can even fight if they are charged more. They never mind being frugal, and this, in fact, helps keeps them safe.
3. Maintaining Only One Income
It has been seen that most millionaires maintain more than one source of income – some have three and some even four streams of income. However, not every millionaire is wise enough to follow this. Some just have a single stream of income and they are very confident about it and believe that nothing ever can hurt their business and thus they will never have to face any financial troubles. However, fate proves them wrong, their single company faces a problem and they are bankrupt. It is thus important to maintain varied streams of income so that even if one is hurt, the others will save you from facing serious troubles.
4. Aggressive and Impatient Investments
Long-term investors are calm and patient but aggressive investors just buy any stocks without planning and when things take a wrong turn they quickly start selling them off. Furthermore, since they have earned so much they think they need no expert investor advice and thus rely on their own intuition and later face troubles.
