Hope for the best, prepare for the worst. What else do we need to consider to avoid money problems?
It is possible for anyone to be surprised by something – but not good, but bad. Therefore, when the word applies to money, it is best to follow the rule: “Hope for the best, prepare for the wortst.” Insure yourself, protect your income and investments, and always have a plan B. Once you have a backup plan, unexpected bad surprises no longer seem so awful and hopeless.
When it comes to your money, stupid questions don’t exist. By no means do you understand how to calculate interest, what does a fixed or variable interest rate mean? Don’t be quiet and don’t pretend that everything is clear to you. Ask questions, get informed and only then make important decisions. Who will protect you if you don’t do it yourself?
Be careful with credit cards. Although they are extremely practical, it can happen to you if you are not careful and experienced enough and get into debt. If you can’t pay off your monthly debts, then they are not a good choice for you.
Never stop learning. Especially about personal finances and investments.
Listen to others. You can learn a lot from friends, relatives, co-workers … Also from their mistakes.
Focus on the goal. What matters is your future, not your past. Maybe you had debts, you were out of money? What have you learned from this and how can you use this knowledge for a better future? It is definitely important that you step forward and believe that you can.