10 Biggest Money Mistakes Almost Everybody Makes
Mistake#8: Not diversifying investments
Some people think investing in only one product will fetch them more money. But the truth is that the investment landscape is incredibly diverse. As the phrase goes “don’t put all of your eggs into one basket”, this can be applied to investing more than anything. You can invest in real estate, domestic stocks, foreign stocks, government bonds, corporate bonds, and money markets. It is not that all the assets you invested will fetch you money the same month as each asset has its own time of rising and drowning. So, instead of guessing, you diversify your investments. Try to invest in more than one product or asset class as it’s been observed that few people invest only in one particular asset like gold or real-estate, and then the problem arises when the particular market has a fall and the investor finds himself in helpless situations.
Mistake#9: Not taking insurance policies
No one bothers to take an insurance policy in today’s date despite knowing that insurance policies can help them in many ways. There are variety of insurance that can be taken like life insurance policy, automobile insurance and health insurance. 
There is no harm in taking a insurance policy as you are not wasting any money instead when you take a life insurance you pay a small amount of money from your salary every quarter or every month per year. This money is saved by the insurance company and given back to you as a lump sum amount after a certain period. Sometimes as a bonus you never know the policy might also cover your medical and family expenses too.
Mistake#10: Lack of goals
Lack of goals is one reason for many financial disasters. As maintaining a monthly budget helps you to live within your means, the same way goals will help you improve your finances for future. If you don’t know where you are spending then how will you save it at the end of the day? Certain questions that you must ask yourself before you start saving, such as, the reason for savings or investing? Is it increasing your wealth anyway? Without setting goals, you don’t have a benchmark to progress. Thus, start setting a savings goal from now on and stabilize you financial future.
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