31 Financial Mistakes that keep you Poor

We are going to give you a gist of 31 financial mistakes which can help you to make money in the market

SECTION I:- MISTAKES IN BORROWING

1) Not prioritising which debt to pay first

2) To be Guarantor in a loan

3) High borrowing than your capacity

4) Borrowing money for marriage

5) Borrow money to buy things that depreciate in value

6) Creating money from your wealthy friend instead of money-making ideas

7) To help those who asks for financial assistance

SECTION II:- MISTAKES IN INVESTMENT 

1) No diversification of portfolio

2) Extremely conservative approach toward money

4) No idea about the power of compounding

5) Getting a higher degree you don't require

6) Failing to invest in learning

7) Depending completely on the financial expert

8) Short-term thinking and quick rich scheme

SECTION III:- MISTAKES IN INSURANCE

1) Mixing Insurance and Investment

2) Not having sufficient health insurance

3) Not understanding Health insurance properly

4) Not having Life insurance cover

5) Not having an adequate Accident policy

6) Not insuring valuable things

SECTION IV:- MISTAKES IN SAVING

1) Not tracking actual expenses

2) No planning for emergency Funds

3) Buying the latest gadgets in peak season

4) Not negotiating on price

5) Spending for services, subscriptions, and extra features you don't need

SECTION V:- MISTAKES IN SPENDING

1) Spending first before saving

2) No list shopping

3) Increase your expenses with an increase in income

4) Not having a Budget

5) Not involving your partner in money matters.

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