4 Bad Money Advice

February 18th, 2017

Bad Money Advice

Don’tThink How to Earn Money When You’re Young

Some young adults will tell you that at your age and with a minimal salary, you don’t really need to deliberate the money question just yet, “wait for the times when you start earning real money and start thinking about savings then.” However, it’s not the right approach. The earlier you start saving, the sooner you’ll get the idea on how to do it properly.

Buy Wholesale

The idea of buying the stuff in bulk is something you’ll hear from a family with three children and two dogs. And it’s not surprising because this strategy does work out for them. However, when it comes to the people living alone, wholesale purchases might turn up to be a waste of money. Think carefully whether buying 50 rolls of toilet paper in one go to save 5$ is really sound advice.

Pay off the Minimum on Your Credit Card

A good credit rating is something you should strive to achieve from the moment you get your credit card. Based on your expenses, there is a set financial threshold you have to remember and always keep on the card. Therefore, in this case, unlimited spending is not supposed to work. The majority of companies will provide you with a sufficient credit score only when you don’t cross the 30% limit. Spending money wisely and paying your credits off regularly are the things you should always pay attention to.

Pay the Bills without Checking Them

Bills are an essential part of adulthood. Sooner or later you’ll have to roll up your sleeves and master the skill of paying bills in time. However, a habit you should develop alongside is looking through the bills before paying them off. There is always a possibility of an error. Sometimes you may be required to pay for the services you were not provided with, and it’s not as uncommon as you might think. In order not to waste money, check the bill before paying it off, and in the case of a mistake, take it to the provider.
Money is a part of our existence, and the ability to manage it correctly is essential for everyone. Listen to people with life experience, but take everything with a pinch of salt because not all pieces of advice are going to be suitable for your lifestyle.

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