Tuesday, October 30, 2018

Seven things you need to consider before investing your money

There are some major factors to consider before investing in any investment site. Most of these investment site are more like a ponzi scheme, they are not designed to last long.
A Ponzi scheme is a fraudulent way to lure investors, it pays profit to earlier investors from the funds obtained from new investors
 Here are things you need to consider before investing.

Money Management 
Before you can decide to invest your money, you have to be able to manage your money. Create a budget before you invest and stick to the budget after you invest your money. You can only make more money if you are financial disciplined.

Investing your money into risky sites/bot you are not prepared for can cause you a lot of frustration and unnecessary stress. Before you invest, consider your risk capacity and necessity. Sometimes it may be necessary for you to take risks than you can afford.
He who is not courageous enough to take risk will accomplish nothing in life. - Muhammad Ali 

Buffer fund
What if something went wrong (Investments are volatile).  Having a buffer fund is very important when considering investing your money. You can not say what might happen tomorrow, but be prepared.

Why are you investing? What are you investing for? Knowing your objectives will allow you make the right choice. Your objectives should always determine the type of investment you should be making.

Run time of the investment site/bot
Run time means how long the system (site/bot) has been online. Based on my experience,you need to consider the run time before trying an investment site/bot(especially telegram bots) since most of this investment site are designed like a ponzi scheme, the older users benefit  while the late ones get scammed. If an investment site run time is already more than two months, the chances of if it turning out bad are high, I highly recommend you not to try it out. Look for another investment site/bot.

You should also consider the profit before investing in an investment site/bot. The profit must not be too low and must not be too high.

  1. If the profit is too low, you can invest in the site/bot, but it's more like a waste of time when there are other investment sites that will offer you higher profits
  2. If the profit is too I high, I personally don't recommend investing in that kind of site/bot unless there is a standard reason to backup that profit.
Time is important in investing, you need to be patient while investing. Do not be in a hurry and do not take shortcuts, it can cause you a lot of financial problems.
Invest early, invest wisely and invest regularly. 
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