Saying "finance sing romances" - is that about you? Unfortunately, most people did not study financial literacy at the university, and a measured life with work "for the uncle" did not teach anything. It is especially difficult to plan their income and expenses, as well as savings for women (due to a more humanitarian mindset), as well as for pensioners with their desire to play it safe, fear to explore new financial ways, and forgetfulness.
Modern chaotic life does not forgive mistakes, so you need to overpower yourself and learn to plan your financial flows. To do this, it will not hurt to master the field of lending, securities, insurance, tax and social benefits, other manipulations with money, real estate and valuable objects.
Today in our rubric TOP 10 common financial mistakes that manage to make almost everything in your life.
10. Savings "under the mattress"
The population is accustomed to using the rotten banking system one-sidedly - they will get loans, and then they will carry blood money with crazy interest to uncles with leather portfolios. Statistics say that more than half of the population of Russia, knowing about the possibilities to put money on a deposit, do not use it, preferring to "preserve" money in banks, put it in thick books, hide under mattresses and in other amazing places. A person does not think that his money could work in the stock market, help develop a successful and profitable business, or simply lay dead weight in a bank account, but, nevertheless, bring a penny. This is facilitated by annual inflation, against which not only eggs in the market rise in price, but also your savings.
9. The pursuit of profitability
There is another extreme of financial illiteracy - people too recklessly part with their savings, wanting to diversify their income. There is no risk-free return other than% on deposits. That is, investments in business, storing money in foreign currency, playing the stock exchange, investing in projects, etc., are somehow or other connected with the risk of loss of savings in whole or in part. As a rule, risks arise when the profitability of the case is above 12-17% in Russian rubles. The population is advised not to be fooled by commercials, financial frauds and pyramids, especially in the case of promises of high and operational profits. To assess the risks does not hurt to attract a financial adviser.
8. Underestimating your risk response
Risk is often associated with personality traits. If your friend has successfully played on the stock exchange or invested in some new project, this does not mean that you with your knowledge and skills can achieve the same indicators. And there is such a thing as excitement, which does not allow a person to stop both in case of winning or losing. You must be prepared to tolerate market fluctuations, such as a 50% drop in the value of your securities. If you are mentally unstable and have a quick-tempered character, you can recklessly sell shares at an unprofitable value and be disappointed in investing operations.
7. The lack of "airbags"
Many people live without accumulation at all, so to speak, in one day. They sincerely believe that we live once, therefore all funds must be spent on meeting current needs, and in case of unforeseen expenses (operation, damage to other people's property, holidays, etc.) you can always borrow or sit on the neck of relatives. Such people never have a “buffer” behind their backs, therefore they rarely succeed in business. Life in loans and debts strongly puts pressure on the psyche and limits human capabilities, so it would be nice to form an untouchable fund for unforeseen expenses every month.
6. Neglect of tax benefits
It is beneficial for our state to hide from the ordinary person those benefits and discounts that he can receive. For example, very few people know about tax deductions and benefits. So, in Russia, each person has the right to an amount of up to 15.6 thousand rubles, if during the year he spent personal funds on treatment, tuition, invested in a pension fund or supported charity. And if you purchased real estate, then up to 260 thousand can be transferred to the account, as well as some compensation for a mortgage loan.
5. Investment without a term
Before investing in any project, you must understand that they must apply and return to you a certain income in a specific specified period. Your goal is not to earn a certain amount, but to make a profit in excess of investments in a clearly agreed period. If you are ready to engage in finance for a period of 1-3 years, then government bonds and funds, bank deposits, proven small and medium-sized businesses are suitable for you. If you are chasing "big fish" and investing in a large-scale project (big business, construction and use of real estate, etc.), then you can expect benefits in the period of 3-10 years. By the way, investments worth more than 10 years can increase the return on shares by 70-80%.
4. Neglect of insurance
Many people are tense with the topic of insurance, as, for example, compulsory car insurance often turns out to be unprofitable for a neatly and slowly driving driver, while the money annually “flows through the fingers”. Nevertheless, health and life insurance is quite profitable, since often a person has unforeseen large expenses for treatment (still, with our prices for medical services). In most cases, saving property finances helps property insurance in case of fires, robberies, explosions, compensation flooding neighbors, etc. In some professions, liability insurance avoids litigation and huge compensation to the injured party.
3. Wrong loan parameters
Before signing a standard loan agreement, it will not be superfluous to read the smallest and most inconspicuous letters in the text, even if you have a huge tract in front of you. Do not be lazy, because often your debt bondage often depends on the "small print" in the future. Do not forget to take into account a number of points when drawing up the contract. First, the loan is made out in the currency of your salary, and not foreign, which avoids the growth of monthly interest due to the depreciation of the ruble. Secondly, do not take loans “with a margin”, but only strictly for the amount that you need. Third, avoid long-term loans if you can limit yourself to shorter ones. For example, a loan of 200 thousand rubles, extended for 5 years instead of 2, will force you to give an uncle with a portfolio an additional 110 thousand.
2. Lack of personal financial plan
Each head of the family should draw up a financial plan, taking into account all financial flows from each person (income, expenses, savings, investments, etc.). At the same time, it is necessary to think not only strategically, but also tactically. Thinking about buying a car in 10 years, today you can’t get closer to fulfilling your dreams, especially since you have to take into account that property is becoming more expensive every year, as are the costs of its maintenance. If you set out to save up for something big, then start earning and strictly consider your finances without plunging into credit bondage ahead of time.
1. The beginning of retirement savings a couple of years before entering it
Everyone should think about retirement from youth, as long as there is opportunity and enthusiasm to create their own old-age savings fund. Someone invests in securities for a long time, someone buys real estate, and other people organize a business so as not to think about the crust of bread in old age. But what about an ordinary hard worker who stays at work all day, and all he can do is have dinner and wash? There is only one answer - start starting to save at least 25 thousand rubles every month 10 years before retirement, which will allow you to receive payments in the amount of 40 thousand in the future
Financial theory and practice should be taught starting from school, which will make our person more protected from the hardships of adulthood and will allow to succeed in it.