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With the way you sound, I suppose you find it an easy thing to do. Many of us also do have budgets even though not constantly. Others times many people just gets engaged in many financial activities and they lose tract and cannot keep count. While I can say that I personally think of my financial state daily daily in my head and plan income and expenses. It is not easy when you have so many needs to spend on even before the money comes.Having a budget and sticking to it will help eradicate lots of personal financial mistakes. Do not exceed your budget. Do not buy things on credit,or get things you do not plan for. Also have some savings in your accounts. Do not use money for that which is of no worth.
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.
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 ww
I definitely agree with you, many people make mistakes of saving their finances with the mindset of avoiding lavish spending instead of investing their finances on other business and maximise profit
Unfortunately, to beat inflation, in some country the average way is to engage in risky investments. Most of the conservative investments use to generate interests below inflation. In my country, I had to buy stocks and long term federal treasuries (these latter are risky only if we don't wait their deadline during certain market conditions and withdraw them before expiring) to escape inflation. In any way, in spite of inflation, even conservative investments and savings may help, so I would avoid spendthrift habits, as to be spendthrift is surely a financial mistake. I also would avoid unnecessary expenses in case of underpaid salary (as television subscriptions, cinema and similar expenses). And I surely would avoid to drain money in cigarettes (that I consider burned money: a total financial mistake for everyone).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.
If you want to avoid mismanagement of funds in your business you really have to separate your personal account from your business account. You also have to separate your relationships with people, and families from your business. Dedication and hard work is not left out of this also.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.
Not only to invest. You can start a business which ate essential, you might not necessarily invest but I don't advise anyone not to invest, u can invest but another option is creating a business idea with the money do even if inflation occurs you won't lose money your business also inflate with it.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.
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