In our daily lives, we inevitably encounter various financial products. While considering the risks and returns, it’s also important to be vigilant about the traps hidden within these products. We welcome both professionals and non-professionals to discuss the subtle financial pitfalls we may encounter in life. Let’s help each other avoid these pitfalls on our journey to financial freedom.
I’ll start with one: Never believe that financial management can make you rich.
Financial management can't make you rich but it will help you to prevent being broke.
Financial literacy is very important especially if you're not making that much, since you have to make a budget for everything or else you'll come short, worst case, you won't be able to pay your bills. It is important also to know your needs and wants, because if you don't, you'll end up spending your money on things that you don't need.