Mistake we usually commit with the intention of saving

11:47:00 AM

Sometimes we fall prey to a trap that at first sight looks like a good business, but it only affects our savings and finances. Know them to avoid them.

  • Traps you should avoid if you are looking to save
  • Traps we usually fall to keep

It seems that we all know the key to saving. When we tell a friend or colleague at work that we are trying to improve our home finances, he gives us a speech about everything we have to do and what we have to avoid. These are notions common to all, of course, but often carry some hidden traps in which it is very easy to fall. 

Mistake we usually commit with the intention of saving
Know the tricks that, instead of improving your savings, put you in danger, and you're probably suffering right now!

  • Traps we usually fall to save.
  • Credits and loans.
  • Borrowing from yourself.
  • Better to invest than to lose.


Credits and loans

It is one of the most common traps. With promotions, rates and very low rates to return the amount allocated, we usually fall prey to these advances of money by financial institutions, as well as family and friends. But be careful: they often make you spend more than they allow you to save.

Do not break the pig. Sometimes we must think twice before falling into traps disguised as opportunities

Sometimes there are important business and shopping opportunities, which claim not to be for too many more days. Since we do not have the money, we usually ask for loans and credits to acquire that car, to do that business or to take that trip. But at the time of returning the money, interest rates and inflationary values could cost us twice the amount received. It is best to have patience, wait for the next opportunity for business or shopping, especially if you are looking to save.

Also, always remember that money and affections are not to be mixed: asking a family member could create a tense situation until the money is returned... much more with people who will remember you on a daily basis.

Borrowing from yourself

It is another of the pitfalls of saving: take "borrowed" from your retirement account. To buy that car that will optimize our expenses or that house that avoids the money of the rent to us every month, we give to our savings bank for the retirement.
"Do not keep your money in a shoebox at home: that's where it will not give you any profit."
Unless it is imperative, avoid doing it: it is always better to adjust our day to day than to be left with nothing for the years in which we really need them. That is to say: if it is a medical intervention or extreme situation, that money could save you. But if you withdraw it to buy a boat and then you really need it, hurry up where you will be.

Better to Invest than to Lose

Many people get carried away by the belief that money in the bank is dead money. But it is not so. While investing in something that gives you more money is great, no one has the recipe for ultimate success in it. Sometimes investments fall, the market changes, and we would rather go back to the past to leave the money in the bank, where we generate interest (small but constant). 

You should not have it, however, in a shoe box at home: that's where it will not give you any gain. And the investments? Well, go with security, with backups, deadlines and so on. So your money will create more money without you doing something about it, instead of losing its value in a tight place.
"One of the traps we usually fall into is borrowing from the retirement account."

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