What personal finance mistakes should everyone avoid?

[Immilash]

This is one of the main reason why many people got their business and their investment fold up or ruined because they invest heavily on some business they knew nothing about .

It's not a good idea to invest your money on something you don't only about,you are expected to have a good knowledge before venturing into the business of any kind not doing that will only lead you to failure.

 

[Chibson]

I do not just learn things from people blindly . If I am interested to learn forex or cryptocurrency from you then you must put me in your group and generate signal for at least one week just for me to ascertain how professional you are in the area.

That's right, knowing the potency of their signals will determine how successful they are in the Forex market. Learning from people who are very successful will probably make you successful also.

 

[Good-Person]

That's right, knowing the potency of their signals will determine how successful they are in the Forex market. Learning from people who are very successful will probably make you successful also.

Not saving enough money is one of the biggest mistake anyone could make. Money is very important and saving it could actually save you in the future when you need it the most.

 

[Sotherefore]

That's right, knowing the potency of their signals will determine how successful they are in the Forex market. Learning from people who are very successful will probably make you successful also.

Definitely provided you are also serious to learn it on your own. Even in our Forex class there are some people that after paying the money , they are nowhere to be found. I wonder what they actually came to do.

 

[Treborika]

As far as I am concerned I know there are key mistakes and if avoided one can succeed. For instance avoiding overspending on luxurious things can be very useful if someone wants to go far with their money.

 

[Chibson]

Not saving enough money is one of the biggest mistake anyone could make. Money is very important and saving it could actually save you in the future when you need it the most.

that is actually very true. There was a time I was not saving money and I regretted that particular action. It is important to save and it is also important for you to invest.

 

[Imran_Noori]

For me it will be not Investing Appropriately - If you simply keep your cash in reserve/savings bank account, you are not investing you are doing the opposite. Your saved Money will lose its value and become worthless due to rise in inflation.
It's better you invest your Money into Profitable and low Risk Businesses and keep your money flowing beating inflation and making your money more worthy.

I am agree with you, keeping money is like wasting it you just keep it and do nothing it is like wasting time and doing nothing, and also gambling will destroy all your financial life, you will never earn from systems.

 

[Georgeadawara]

For me it will be not Investing Appropriately - If you simply keep your cash in reserve/savings bank account, you are not investing you are doing the opposite. Your saved Money will lose its value and become worthless due to rise in inflation.
It's better you invest your Money into Profitable and low Risk Businesses and keep your money flowing beating inflation and making your money more worthy.

You have said it all, but I also think in business be it online or offline one has to make sure he didn't take debt or loan to run business, because its very risky.

 

[Smiles20]

Anybody who is into personal finance road how to become financially free should always avoid spending money on irrelevant things like premium subscription or buying too many fruits.

 

[Shigobad2020]

Joining your personal money with your business money is what you should avoid at all cost as an entrepreneur and using your business fund for pleasure should also be avoided .

 

[Genie01]

The mistake of not planning your finances is the greatest financial mistake one would make.
If there is not plan ,you have already planned for failure.

 

[tyrim88]

Very good point to make here,but in trems of money,there are place for investment that wil eventualy bring in revenue for you,but there is still need for one to have some reserve in savings in his account,incase of emergency.

 

[Shigobad2020]

Very good point to make here,but in trems of money,there are place for investment that wil eventualy bring in revenue for you,but there is still need for one to have some reserve in savings in his account,incase of emergency.

Having a reserve fund is a must thing do you to have as a business entrepreneur, because most of the time , an entrepreneur might have issue with business that might need money and if there's no reserve fund , the business might collapse .

 

[Skysaint]

Well, I would say it's saving your whole assets in an offline bank. I think people shouldn't have that spirit of saving, rather they should nurture the habit of investing in profitable and lucrative projects.

 

[frederick_9]

I like offline businesses since you can manage them on a regular basis if you run an offline firm. One personal financial mistake someone should avoid is investing money recklessly, especially online.

 

[nana kwasi]

Personal financial mistakes to avoid include being extremely cautious about where one invests money, especially online. For this reason, I prefer offline businesses, as you can more easily keep an eye on them on a regular basis.
I prefer offline businesses because you can monitor them on a daily basis if you run an offline business. One personal financial mistake someone should avoid is investing money recklessly, especially online.

 

[Shigobad2020]

I like offline businesses since you can manage them on a regular basis if you run an offline firm. One personal financial mistake someone should avoid is investing money recklessly, especially online.

When you have a good offline business that's bringing you good inflow of profit daily , you will be better off than working online where your earning can be slashed anytime and the online website's you are woeking in can also disappear.

 

[Sotherefore]

When you have a good offline business that's bringing you good inflow of profit daily , you will be better off than working online where your earning can be slashed anytime and the online website's you are woeking in can also disappear.

These are the risk factors associated with online business but at the same time we should be looking forward to concentrate in trusted platforms. This would cut off the risk.

 

[Shigobad2020]

Anybody who is into personal finance road how to become financially free should always avoid spending money on irrelevant things like premium subscription or buying too many fruits.

The fact remains that buying almost everything you see will run your busuness into the mud ,you don need to buy things you realised is not a priority only buy important things ,

 

[Sotherefore]

Well in a very simple explanation you need to avoid being in situations that you don't have savings . you should try as much as possible to save at least 50% of your monthly earning or even more as the case may be.