GMR 157: 5 Financial Mistakes to Avoid

Getting Money Right

Contenuto fornito da Leo Sabo & David Thompson, Leo Sabo, and David Thompson. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Leo Sabo & David Thompson, Leo Sabo, and David Thompson o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

4y ago 14:18

MP3•Pagina principale dell'episodio

5 Financial Mistakes to Avoid

Keeping up with the Joneses

Spend on purpose, and you’ll avoid the temptation to compare and keep up with others.

Not setting the next goal

Always have the next goal in place before achieving the one you’re working on.

Not protecting your wealth

Have proper insurance

Manage your cash flow and increase your reserves

Spending before saving

Save before you spend. This will ensure you never forsake your financial wealth and future for immediate gratification.

Not diversifying

Putting your eggs into one basket is risky.

Invest in different asset classes such as real estate, businesses, stock, and mutual funds.

Increase your cash reserve to protect against having to dip into your long-term saving and investments.

Avoiding these mistakes is for everyone, regardless of where you are on a financial journey. Not only will this protect your wealth, but more than likely grow it.

Resources

GMR 133: Common -Sense Reasons to Buy Insurance
Budgeting tools and other free resources - https://leosabo.com/resources
David’s website - www.stewardshippastors.com
Blog: The 5 Biggest Mistakes People Make With Their First Million

189 episodi

#Trading #Business #Manage Your Money #Leo Sabo & David Thompson #Leo Sabo #David Thompson