IN 5 MINUTES, AVOID THESE MONEY MISTAKES - Deepstash

Bite‑sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

published 5 ideas

What's up, it's @hackedongrowth here, so let's be honest with ourselves: we all want to do better with our money, whether it's generating more money or building our wealth; it's all about the incremental changes we make along the path, and most people, sadly, will not follow these very basic five steps.

IN 5 MINUTES, AVOID THESE MONEY MISTAKES

medium.com

1. Don't blow all your money

Don't spend everything you earn now, this may seem obvious, but it was discovered in 2020 that the average millennial was spending 2% more per month than they earned. Because of this, it's critical to track your expenses and create a budget

3

STASHED IN:

21

2. Not to hold a large sum of money in cash

Invest the money and I started bringing it up because it applies to a lot of people who don't feel comfortable enough to invest so they just keep it in cash instead. The sad truth is that when you factor in inflation, your money actually loses buying power every single year that it's not invested...

5

STASHED IN:

19

3. Keep your credit card balance as low as possible

This is the worst misuse of money ever sure I'll just put it on my credit card I'm never going to pay it back

STASHED IN:

17

― ROY T. BENNETT, THE LIGHT IN THE HEART

“Success is not how high you have climbed, but how you make a positive difference to the world.”

6

STASHED IN:

20

STASHED IN:

17

0 Comments

Discover and save more ideas by creating a

FREE

Deepstash account.

Develop a

reading habit

, save

time

and create an amazing

knowledge library

.

GET THE APP: