Mistake 5 # Not Investing Slowly & Systematically

Investing needs patience and planning which only few have. You think you will start saving and investing when you have enough money, but forget that you will not have adequate money to save until you start saving. Those who only plan on a monthly basis should separate a part of their income to put it into savings. In a nut shell the entire point of the conversation is, "slow and steady wins the race".

Mistake 6 # Time as a Friend

Time management is another important factor in investment decisions. As you start getting older and new responsibilities add up your financial requirements also change. For example if you need a 5 lakhs insurance coverage at your mid twenties, at the age of 30 after you get married and have a family you will need an extended coverage as your liabilities will increase with time. Therefore it is necessary to keep updating your financial investments from time to time.

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