Being rich doesn't cure ugly, but it sure helps! 🧟🤑 To hang on to that out-of-your-league spouse of yours (who's clearly in it for love), make sure you're not making any of these sneaky investing mistakes!
Even if your last name is Buffet, you could still fall victim to negative behavior patterns if you don't know what to look for. 🚨 Read up on these top blunders to keep that hottie under your roof...and finally buy her that superyacht. 🚢
Here’s Five Fast Facts on what to avoid and how to make more moolah:
- 🪞 Check Your Ego - Ah, your big ego, AKA your self-confidence. A healthy dose of it helps you make your way through life, but too much of it could hurt your money mindset. Listening to a few real estate podcasts won't make you an overnight tycoon. Be realistic about your money abilities and start small.
- 🎰 Risky Business - On the flip side, being too cautious might hurt you, too. Your dad might have you convinced that you should keep your savings under your mattress, but you could make that money work for you in a high interest savings account instead. Learn about your options and be open to new ideas.
- 🗞️ Pay Attention (But Not Too Much) - Sure, it's important to watch the news and know what the market is doing. However, being full-on obsessed with every little detail could cause problems. The internet is full of armchair "experts", and it can be tough to tell which advice is good and what's nonsense. Choose a few reputable sources and leave the details for your accountant.
- 🎭 I Get So Emotional, Baby - Panicking over every little headline also leads to fear, which we also know leads to bad decisions. Getting too caught up in the drama could lead to snap decisions you might regret, or make you more vulnerable to scams. When in doubt, get your opinions from a financial professional.
- 📝 Strategery - So what can you do to stay smart about your money? Well, for one, don't check your retirement or investment accounts every day. Look into multiple types of investments to hedge your bets. And remember, no investment is 100% safe, so make sure you know what you're getting into before taking the plunge.
🔥Bottom line: Look, we get it. Money, especially investing, can get really mysterious and murky. It helps to read up on potential investments before diving in, but it also helps to understand your mindset and behaviors. Need more money tips? Check out our articles on how to save for retirement and finding a money mentor.
Do you make any of these money mistakes?
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