Do not do these things if You want to be Better off Financially

Here are few things that you shouldn’t be doing for better financial condition:

• Don’t save less than 10% of your annual income.
• Don’t think that credit card is a source of funding. Its a mode of payment.
• Don’t think that one day, you will automatically get out of the living-paycheck-to-paycheck mode. You will need sacrifice a few things to make it happen.
• Don’t take a large housing loan just for the sake of tax deduction
• Don’t invest only to save taxes
• Don’t trust you agent or broker or advisor or wife blindly :(
• Don’t expect stocks to behave like bonds and give fixed returns. Please add cryptocurrency as well
• Don’t think that it will be as easy to implement, as it is easy to say “I’ll be greedy when others are fearful”. Believe me it is not easy!!
• Don’t assume you are smarter than the market.
• Don’t give up on stocks if you lose money at first. same for cryptocurrency.
• Don’t underestimate the power of compounding (8th wonder of world)
• Don’t believe anyone who gives you any guarantee in stock markets or in cryptocurrency.
• Don’t buy based solely on past performance and expect future performance to be a repeat of past.
• Don’t die without an insurance (if you have dependents).
• Don’t have ‘being-the-richest-man-in-graveyard’ as the aim of your life.
• Don’t try to save everything and sacrifice your present.
• Don’t keep an emergency fund of less than 6 months worth of expenses.

Many thanks for reading!!