Financial choices will determine whether you spend your life living in pleasure or ruin. Are you going to be financially free? Be in ruins? Or maintain your average lifestyle? This is totally up to you to decide. Here are some wrong choices that you would regret and should, therefore, look out for.

Living a life of waste
The secret to building wealth is simple: live within your means, month after month. But so often we feel deprived if we have to do without — especially if we think everyone else is living the good life. It is not everything you should buy.

Living a life without a budget
Tracking your money gives you greater awareness of your spending habits and what you’re actually doing with your money. In short, the most common consequences of not budgeting include a lack of savings, less financial security, out-of-control spending, a higher likelihood of going into debt, and more financial stress.

Not saving
One of the consequences of not saving any money is that you’ll be financially unprepared to deal with any unexpected emergencies that occur. Unexpected and unfortunate things happen in life, while they might not all cost you money – some of them will and you need to be prepared for that.

Not investing
Investing gives your money the potential to grow faster than it could in a savings account. If you have a long time until you need to meet your goal, your returns will compound. Basically, this means in addition to a higher rate of return on investments, your investment earnings will also earn money over time.

Wrong Investment Decisions
Failure to achieve your financial goals owing to wrong decisions can affect your personal and corporate finances. An abortion of objectives may also erode confidence in one’s ability or the expertise of a financial planner.

Falling for “get quick rich” schemes
If you hear or see the words ‘act now’, warning bells should start to ring. You need to do your research and exercise due diligence with any investment – and any financial adviser worthy of the title will encourage you to do this. You cannot make a fully informed decision in a matter of minutes or even hours, and if you are pressed to respond immediately, rather do not opt in. Dont fall for traps like MMM, invest in profitable ventures that bring back massive investments

Borrowing
Although there are many advantages to borrowing money for your business, there are other aspects to factor in as well. Firstly, in spite of increased affordability, due to interest, service fees and legal costs, borrowing money will ultimately cost you more than if you were to support your goals by yourself.

https://blog.investa.ng/financial-decisions-you-might-regret/

lalasticlala

thank you

Nice points
But not investing is my major issue here.
I hardly found good investment platform I can trust my money with.

HenryThegreat1:
Nice points
But not investing is my major issue here.
I hardly found good investment platform I can trust my money with.

visit our website to get investment tips
http://investa.ng/invest/idea

lalasticlala