A Mistake I Made With My Finances  Free Essay Example

Last year I happened to have more money than I have ever had in my life. My parents had given me a special gift for being their most hardworking and obedient daughter. It was a surprise, and so I had not thought about it prior to receiving that precious gift. The experience was so exciting. I felt I was on top of the world, looking at the account balance and smiling from my heart. Everyone around me during that season could notice the joy that flooded my face and my emotions.

I had never handled such an amount by myself before.

Now, the thoughts of how I would use the money were racing through my mind at every awakening moment. In the midst of the confusion and excitement, I forgot to relax, calm down and budget for my finances. The worst mistake that I made with my finances than was to act promptly without budgeting and considering the long-term implications of whichever investment I was to make.

So what I did was to remember some awesome idea that I had heard from some business-oriented friends of poultry keeping. So I got excited as I recalled those great profits they said would come from the business. They were talking about thousands of dollars after several months of keeping exotic chickens. So without consultations and considerations from my parents and friends, I rushed to purchase several hundred exotic layers of chickens. I organized for construction of a poultry cage, and within two days it was finished.

I never bothered to bargain for the cost of construction, since I was obsessed with the focus of having many chickens in my homestead. I immediately ordered two hundred exotic chickens, and they were delivered home within a short period of time. I had by now spent almost all the money in construction of the cage and the purchasing of the chickens. It then dawned on me that these chickens needed food, water, and vaccinations! My bank account was not enough even to sustain the feeding of the chickens for two weeks. So I resolved to sell half of the chickens to get money for vaccinations and food. My financial status started being weak after two months when all the money was gone, and the chickens still demanded rearing for two more months. I noticed that even if I sold the rest of the chicken, I would not recover the amount spent on the investment so far.

So confusion and anxiety set in. Then, unfortunately, a poultry disease swept across the region, and my chickens were infected. I had no money for their care. I had spent all that I had. My parents were not in a position to help either. It was so bitter watching all those precious chickens die one by one, day in day out, because of a mistake that was avoidable had I been patient enough and budgeted my precious dollars. It was a total loss! I learned from this mistake that it is very important to budget for your finances. Rushing to make a decision without proper considerations and consultations is the surest way to failure. One needs to take time and consider all factors that will affect the investment, and how they are able to deal with the challenges that come along the way. It is also important to set some money aside for emergencies. If one intends to start a project, he or she needs to factor out the miscellaneous expenses and costs that come along, and this will strengthen the investment plan.

Remember! This is just a sample.

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