Things you shouldn't do with your savings if you want to be rich
You enjoy the idea of saving your money to actualize your financial goals, but somehow you spend the money anyhow. You don't know how it happens, you just don't have savings at the end of the day.
Yes, this personal
finance issue is not peculiar to you. Many people have had similar
experience and they can relate to your plight.
However,
instead of sitting down there lamenting how your money disappears, you
can actually take at look at what you do with your savings.
But if you still don't understand what you spend it on, I 'll advise you to avoid doing the followings with your savings.
Don't loan it out
hy that
money you set aside for personal use is called savings. If you have
denied yourselves certain gratifications to save money, it is only
reasonable for you to make that savings useful for you. Never loan your
savings to anybody.
Never invest in a business you don't understand
When some people hear about the huge return or profit
they will get on a business in a short period of time, they don't care
to listen or know about how the business would be run before committing
their savings.
This should not be you. You can't
afford to gamble with the money you've been saving for a very long time.
If you don't understand the business, let it go. Don't put your money
in a business you have no clue about.
Don't be too generous
Comments