5 things you should never do with money
5 things you should never do with money
Here are the top 5 actions that should not be taken with your money, if you want to continue to save and multiply
1. The gambling or the lottery
This is the first thing I would like to warn You, my readers, about. I think everyone has heard the phrase that in a casino, the casino always wins. Betting hard - earned money on a negligible probability of winning is the last thing worth it do it if you want to increase your funds.
You should understand that your probability of winning the lottery, for example, is negligible. It constantly tends to 0, and is about 0.000001%, this is 1 to 8 145,060 (1 ticket is divided by the number of all possible combinations in this example in the lottery 6 of them 45).
By the way, you are more likely to get struck by lightning, it is 34 times higher and is 1 in 240 000.
2. Keep a lot of money in cash
This item does not apply to everyone (because according to the RBC survey, more than 53% of the Russian population does not have any savings at all), but if you are a subscriber Finansijama, then I am sure you have the money either already there or you are on your way to build your capital.
The problem here is this: as you know, inflation is constantly devaluing our savings, and it is extremely important not just to keep money in a safe or under a mattress, but also invest and multiply them. The more cash you hold, the more your money becomes worthless.
Of course, you should not go to extremes and spread everything that you have to different banks, some of the funds must be in cash, but try to determine this amount in the area of 1-2 of your POS. Everything else is possible store in quick-access savings accounts, for example, if we are talking about your financial cushion .
3. Investing in things you do not understand
Before you decide to invest in something, you should carefully understand it. Whether it is investing in stocks and bonds, investing in real estate or cryptocurrency, investments in someone else's or their own business. You need to know what your money is used for, what risks this or that type of investment contains, and how soon you will be able to take it back.
Here, by the way, I note that buying shares of the company, because someone advised it, is also not reasonable. You you should understand for yourself what the company is doing, what it invests its profits in, whether it has a profit and what future prospects it has. If you do not understand the area in which this company operates , either you need to understand it, or find shares that are closer to You.
I, for example, always buy only what I understand. And my current result is +17% for 8 months in dollars .
4. Lend to friends or relatives
Yes, it sounds a little rude, but giving money to friends or relatives in debt you at the same time spoil all your relationships. And they become like a lender with a client, or like a lender with a customer. collector with a defaulter)
If you see that your friend or relative really needs help and has done everything possible to get the right amount, but has not been able to, and you can help, then just give them this money for free. So You do not have to wait for them back, and the loved one doubly it is more pleasant to see support from you, and it is quite possible that he will then return this money to you or provide a service at the moment when you will need it.
5. Buying things in larger volumes than necessary
About this topic, by the way, there is a great movie: "100 things and nothing extra ", his review was also published on our channel.
Don't buy more than you really need. You can invest the money saved on purchases and get additional profit, rather than a new item that is gathering dust in your wardrobe or an updated gadget with a slightly changed design.
At this point, I hope you don't you do these things with your money, and have been with us for a long time. After all, we have only true and useful information on saving and multiplying funds, told in simple language. Subscribe and like if the information was useful to you.