Today we will talk about the important section, today’s topic will be how to avoid financial misconduct. Because today a lot of financials are being cheated, and on the credit card, we are going to tell you about the common mistakes on financials. And you must read this article completely from beginning to end. And you will also be safe and your family will also be safe.
What are the common financial mistakes?
Friends, you belong to any society or country, but it is important to win money for everyone, as much as it is for everyone, money is so important that you can understand it yourself. You will not spend much at that time when you will spend, unfortunately. Like if you are added to your small expenses, then there can be a big hole in your pocket. Pockets can always be empty .. What is that, like any new phone is launched in the market. This is how you buy phones. Seeing one or two new additions to the launched mobile, you feel like taking your phone.
And that phone costs a lot in the beginning. And you buy the phone. What you spend unnecessarily, such examples are, cell phone upgrades, regular movie tickets, and hot corns are all a huge unnecessary expense. And go for a walk with your friends in the evening, it also costs from 50 rupees to 100 rupees, between 1500 to 3000 rupees. And on seeing the lifestyle of Dusro, you buy a movie ticket of 200 rupees on the first-day show every Sunday. Joe AI all unnecessary expenses. All you people who have the necessary expenses, spend the same, do not spend illegally. If you understand your life instead of money, you will live. So, of course, you will not spend unnecessarily.
Do not use credit cards without thinking and thinking.
You might also be using a credit card. And before using it, you must know its terms and conditions in the same way. A credit card is very good and safe in its place, but it depends on the person using the credit card. You will fill it as you would with a credit card. The definition of a credit card indicates that using a credit card means spending money borrowed. You must use a credit card and use it at the right time. It is not that you have Rs 500/- in your pocket, but still, you buy a new phone of Rs 500/-. And you feel that right now we have a case of Rs. 500/- in our pocket, till then our expenses will be spent.
And then there is a feeling in your mind that if we have bought the phone with a credit card, then what will be the difference, gradually the money will be filled. But you do not understand that that money will go from your pocket. So do not make this mistake. Credit cards are a convenient way to carry money. But they come with double-digit interest rates. If your credit card has not been paid on time. So, the money you have to pay back will be a lot more than the amount spent on your card and that too within months. Young people are most susceptible to this mistake. Paying your credit card bills will always help you get this handy tool on time and on time.
Very little care for regular savings
In this time everyone will definitely have a savings account with the bank. You should keep your savings account updated at the right time from time to time. Otherwise, regularly contributing to a savings account, either for emergencies or for investment, is one of the best wealth-building habits, often overlooked by many. Despite a modest return on savings, building a healthy corpus by regularly saving is essential for sustenance and growth.
Investment based on half knowledge or copying.
Never invest money in the wrong place with half knowledge or looking at others. Anyone can tell you, or your friend. By investing money in this place, you will get a lot of benefits. You do not listen to humans like these. You should consider only when you have full knowledge about the subject, you have full praise on it and you must meet the officer of that institution to get even more information from it.
And prudent investment decisions should be based on a risk profile, needs and priorities, and financial goals. As these vary from individual to individual, the investment strategy should also be different. Just because an investment strategy has worked for someone (even for best friends), it does not mean that it will work for you. Investment decisions should be made only after fully knowing your investment needs and matching them with the options available to you.
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Business management expert and Leadership Consultant and Business Coach, who writes her blog, Jay’s Trends, focused on helping small business owners understand trends in Business management. Other posts by Jayprakash Prajapati»