What is hustling backwards?

[Borrowdale Barron]

What is the meaning of hustling backwards?

 

[Lenard]

Hustling backwards refers to making financial or moral decisions that end up costing you more than you should have gained. It is a common mistake many people make when purchasing things on credit, taking out business loans or mortgages including other things like online sports betting or day trading.

For example, back in the day, so many cats used drug money to get into the rap game. Nowadays you have got some but not all Hip Hop recording artists who use legally earned money from the rap game to get into the trap game. At the end of the day, if you play stupid games, you win stupid prizes. That's how it is and always will be.

 

[Borrowdale Barron]

Hustling backwards refers to making financial or moral decisions that end up costing you more than you should have gained. It is a common mistake many people make when purchasing things on credit, taking out business loans or mortgages including other things like online sports betting or day trading.

For example, back in the day, so many cats used drug money to get into the rap game. Nowadays you have got some but not all Hip Hop recording artists who use legally earned money from the rap game to get into the trap game. At the end of the day, if you play stupid games, you win stupid prizes. That's how it is and always will be.

What about besides everyday people, does hustling backwards relate to celebrities and public figures as well?

 

[Lenard]

What about besides everyday people, does hustling backwards relate to celebrities and public figures as well?

Yes absolutely, since some celebrities may hook up with other less popular celebrities (e.g., C-list and D-list celebrities) that may end up reducing the impact of their brand power due to drama and bad publicity.

 

[Borrowdale Barron]

What's the most effective way of avoiding it?

 

[Lenard]

What's the most effective way of avoiding it?

The best way is to take it upon yourself to reduce your expenses as much as possible without sacrificing the amount of capital needed to produce work of high quality or to complete a project. You have to make calculated moves in your decision-making process too, since that way you can avoid making errors and omissions.

In summary, it's about going from A to B and then "C" rather than moving from A to B, and all of a sudden you find yourself back at your initial position, which would be "A" in this case. It makes sense, doesn't it? BTW, you should also research the 50/30/20 budgeting rule.

 

[Borrowdale Barron]

The best way is to take it upon yourself to reduce your expenses as much as possible without sacrificing the amount of capital needed to produce work of high quality or to complete a project.

You have to make calculated moves in your decision-making process too, since that way you can avoid making errors and omissions.

In summary, it's about going from A to B and then "C" rather than moving from A to B, and all of a sudden you find yourself back at your initial position, which would be "A" in this case.

It makes sense, doesn't it? BTW, you should also research the 50/30/20 budgeting rule.

It sure does.

 

[Queen]

@Lenard This is why methinks the practice of "living within your means" should have to be introduced as a compulsory class or course in the education system. It can go a long way in helping people with basic skills in money management.

 

[Scorpio]

@Lenard how much you earn doesn’t make you rich.

What makes you rich is how much you save.

 

[Queen]

How much you earn doesn’t make you rich.

What makes you rich is how much you save.

Savings don't make you rich, what's gonna make you rich are investments and interest payments.

 

[Scorpio]

Savings don't make you rich, what's gonna make you rich are investments and interest payments.

The money you intend to put into investments, where do you get it from in the first place?

If not from making savings.

 

[Queen]

The money you intend to put into investments, where do you get it from in the first place?

If not from making savings.

You just gotta know long-term investments especially in stocks, bonds, and real estate will generate more money than putting a huge bulk of your money into a savings account.

That's what I am saying here!

 

[Numero Uno]

This is why I methinks the practice of "living within your means" should have to be introduced as a compulsory class or course in the education system.

It can go a long way in helping people with basic skills in money management.

Most definitely because teaching people how to fish is always important.

And people should also be taught to detach themselves from individuals who prefer to take free fish from you rather than take an opportunity to learn how to fish for themselves.

Such people are lazy leeches and even if you empty your bank account for them, it will never be enough.