“What money mistakes have you made?”, my friend asked casually.
“Well, tons of them”, was my confession.
“Really.”
“Oh Yes!”
“Would you share them?”
“Of course.”
10 money mistakes that you should avoid
Here are the money mistakes that I made, some of my friends made but probably you shouldn’t.
- Let money sit idle in a bank account earning 4%
- Go swayed by greed and get rich quick schemes
- Excessive use of credit card, revolving payments and interest piling up
- Invest all savings into fixed deposits
- Do not have goals and a plan
- Put all money into stocks and trade
- Make tax-saving your reason to invest
- Do not make yourself aware about money
- Try to time the market – when to invest, when to get out
- Don’t know the status of your portfolio