Post
Topic
Board Economics
Re: The first rule of investing is saving
by
Viscore
on 15/07/2021, 23:21:34 UTC
Firstly, you save a good amount of money. Then, you would consider investing some of it into a cryptocurrency or something different. It's really an important thing to be aware of. Because there have been many people who didn't care about saving much and invested all of their money into a cryptocurrency. This is just a deathwish for a person. It's always better and crucial for one to save a good amount of money not to stay in a bad position.
You can invest from your savings but not totally the whole part of it as you are not sure yet if you will make profits or the vice versa. If you'll lose, you still have some left for your own necessities.

But if you start investing from a borrowed money, its quite a big decision you'll make. You'll end up wrongly if you lose plus you have nothing to pay for the interest too. So as much as possible, invest on the amount you can afford to lose. Losing is definitely a part of investing so there's no way we can avoid that particularly if we are still a newbie.