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5 Financial Mistakes You Might Have Already Made
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[QUOTE="arunima25, post: 276083, member: 30475"] Those are some good points. I totally agree with the four of them but disagree( or rather I would say that differ a bit) on the point of fixed deposit. Well, it will differ from person to person and my explanation comes from my personal experience. I will say that investing in fixed deposit might not be the best thing to do to get more money. But it's not a mistake or not at all a dumb thing to do as many feel. Stocks and markets have better returns. But then they do have a risk associated with it. Different people will have different risk appetite. Also, one is willing to take a risk when one has earned enough and has some surplus to risk. Many beginners might not be willing to take a risk with their little money and they opt for a traditional and safer sort of investment like a fixed deposit. Later with more money at hand, one can take some calculated risk to make more money from their money. You are absolutely right that a financial discipline and tracking budgets habit should be inculcated from a very young age. If these are missing, no matter how much one earns and saves, one can become a pauper from king in no time. [/QUOTE]
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