Clipping of news on Brazilian Culture, Law and Citizenship
05/10/2016
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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InfoMoney
SAO PAULO - Everyone makes stupid choices with money. Especially when we are young. Most of the time, we make mistakes without much impact in the long run, but there are some who end up weighing more.
Thus, the columnist of the website "Business Insider" Tim Lenke lists various idiotic choices of money which you will regret it. The "InfoMoney" compiled five of them for you.
1 - Do not invest when you're young
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You may already know the power of compound interest. This is the notion that the earlier you invest, the better you will be financially because their investments have time to grow.
2 - Buying a home without money
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There are many reasons that explain the financial crisis in 2008, but one of the main reasons were the mortgages in the US with category "subprime".
This meant, basically, people buying expensive homes with unfavorable loan terms and no money to pay later.
3 - Accumulating debt cards
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Debts are something very bad, and credit cards can be the worst. This is because the cards interest rates are so exorbitant that it is even difficult to know how much is due. To avoid them, it is best not to spend too much and pay your bill full every month.
4 - To be guarantor of a loan
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Eventually, many people end up being asked to be guarantors of a loan or a lease, for example. Usually these requests are made by friends or relatives who could not get the loan.
The columnist says that the ideal is to deny these requests, since there is no way to know how responsible is the other person or as they walk their finances.
5 - Choosing a college for the price
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Many parents and children find that the most expensive colleges are the best. And that's one of the problems for which many people leave the graduate with a diploma and completely indebted.
Of course many elite private colleges are really great, but that does not mean there are no other options to fall better in your pocket.
Source: UOL
To access the UOL website, click here.
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This article was translated by an automatic translation system, and was therefore not reviewed by people.