Post
Topic
Board Economics
Re: Share Your Best Money Advice Based on Personal Experience
by
DVlog
on 05/12/2022, 16:43:21 UTC
I'd go first -  Stay out of debt as much as you can.

Sometimes debt can save your wealth from burning up. You should always be careful about how much you are going to borrow. That should be lower than your total wealth because if something bad happens you can repay your debt by selling your wealth. Big corporations and businesses grow by taking loans. The big corporation even banks took loans from us to do their business. Debt is not always bad and it depends on what you are intending to do with your borrowed money if you are planning to buy a house or car it's certainly a bad idea.

Another piece of advice I want to add up is not to save your money in the bank. Invest and reinvest in stock, metal, real estate, crypto, etc. As long as your money is idle it's losing its value. So let your money work for you and grow itself.