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Ideas That Will Make You Wealthier Than Your Banker

By SiliconIndia   |   Thursday, May 2, 2013   |    1 Comments
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2. Do Not Incur Debts

You think the financial firms and brokers are providing help by lending money to you, but in the actual scenario lending money is another way of income for these financial institutions by earning interest and other fees on the money lended.

Moreover incurring huge debs is never financially healthy for anyone and can damage your credit rating hugely. Prioritize your money borrowing reasons. Few people tend to borrow money for many reasons which can be managed by not incurring debts. You can simply same a little portion of your income on weekly or monthly basis and use the saved money in actual crisis situation.

Borrowing means you are overriding your yet to be earned and uncertain money today thus lowering your risk taking ability in future. It is always advised that you should only spend a part of what you have earned and save the rest for future.

Also Read:
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