5 Dumb Ways to Waste Money

Mika

VIP Contributor
Not Investing in Multiple Platforms: If you are not investing in multiple platforms you are at risk of losing money. One of the common reasons people give for not invest in multiple platforms is they don’t have enough money. However, this is not a good reason. Whatever you have, you should use it to make multiple investments.

Always buying online: Make a list of things you bought online recently, you will see more than 50 percent of items are unnecessary items. Since it is easier to buy online, people are buying things that they don’t actually need.

Impulse buying: Not having a plan or a list of things that you need and instead go on spending spree whenever you have money. Impulsive buying also is related to buying when there is a sale, black Friday deals, holiday discounts, etc.

Spending before saving: If you start spending before you save money, it will be very dangerous for your financial health.

Following the trends: When buying or even investing, a lot of people do with the trends, and this can be very bad for your personal finance.
 
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