You cannot start investing without taking care of your basic needs

No financial advisor will advise you to start investing if you are not able to provide for your basic needs, that is, needs such as food, shelter, a house (rented or owned) and sometimes pleasure. Investment is never bad, it is good, but a man who has only one means of livelihood and cannot even take good care of himself or his family's welfare should not start investing at the same time, unless he will be starving to do so.

Image source

The truth is that there is no investment that does not yield a good return, investing is like planting crops on the farm, if you keep watering the crops and applying manure, the harvest will be plentiful, nobody wakes up in a day and becomes a rich man unless those riches were already there, made by his ancestors, and he inherit them, I have been in contact with someone who earns so little, he is a type of person who does not want to let a month go by without depositing some tokens in his savings account.

He has done it many times and every time he looks at how he has grown he gets happy, but what has taken all his savings has been his house rent, it's not that he lives an extravagant lifestyle, that's because, before he considers himself an investor or someone who saves, he should live above his rent or whatever.

If a person who saves cannot live above their rent, that means they are saving to pay their rent next year and that is not Savings, Savings requires having a certain amount of money in a bank or digital wallets that cannot be touched until the expected time period that is set to withdraw the funds.

What people confuse is with keeping money to meet a certain challenge that may arise at any time forward and still consider that kind of funds as savings, I am here to talk about this assumption it is not, but that kind of funds mearnt us for a certain things that may arise at any time.

Posted Using LeoFinance ^Beta