It is important to observe a series of recommendations to avoid wasting money and trying to make a profit. One of these tips is avoiding some investments.
Author Juan Pedro Fernández says, in a report published by the Spanish magazine “muy negocios y economia”, there are many investment alternatives that can reduce risks and enable you to achieve significant returns. It is true that in an era of low interest rates, you will have Dealing with other ideas such as deposits or bonds, which a few years ago were a popular choice for savers, there are also unknown areas in which you should avoid investing in, so if someone tells you about their experience, you should be very careful.
And the writer indicated that owning an emergency fund is the best solution when unexpected events occur. This will help you avoid having to resort to credit cards with deferred payment, personal loans, or requesting funding from family or friends and the consequences of that in the future.
It is noteworthy that the demand to make easy money through the wide possibilities to find this service, whether online or in the vicinity of your home, has become a double-edged sword that can make you addicted on a difficult road to get out, and here are some recommendations that should be taken into account to manage your money and avoid potential risks .
Living without an economic system is the drive to do other things you shouldn't do with your money (Getty Images)
Don't keep all of your money in a savings account
Keeping all the money we have in a savings book is among a very common mistake among people who do so often, either because they are unfamiliar with the downsides of this habit or they are overly economical.
The mistake of having money in a savings account is not only that it does not generate profits, but the balance also loses its value due to inflation, and there are many investment alternatives with high or low risk to obtain profit.
Do not invest in something you do not know
Who among us has not heard before that someone made a lot of money by investing in this or that field?
You will also likely hear that someone lost a lot of money, but the important thing is that you should not risk something that you do not know.
Don't just live for your day
This recommendation is not intended to diminish the desire to enjoy life, but living without an economic system is the motivation to do other things that you should not do with your money, such as asking for loans or asking for money from family members.
Do not abuse loans
Sometimes it is possible to need a loan for an unexpected event or to rent or buy a house, within the limits of financial means, borrowing may be an option, but you should avoid applying for loans for unnecessary expenses or expenses.
Avoid applying for loans for unnecessary expenses or expenses (Getty Images)
There are no ways to make easy money
There are many training courses that promise to get rich quickly, these "teachers" are nothing but deceivers who want to take advantage of people's weaknesses.
Do not adopt a lifestyle that exceeds your potential
The lack of awareness of your financial capabilities may make you enter a dangerous economic spiral that will make you lose your balance of living.
Stay away from credit cards
Credit cards tend to be high interest and even if you ask for a small amount per month, you will find that it is very difficult to get rid of using these cards.