9 – Learn The Lingo
When people talk about budgeting and investments does it sound like Greek? Does the conversation put you to sleep? Relax. You’re in good company!
- Become familiar with investment concepts and jargon
You don’t need to become an expert in investments—just conversant in what at first seems like a foreign language. No getting around it, however; you need to understand what is being discussed.
Don’t risk being taken advantage of in a financial transaction. Knowledge will help you avoid a costly financial mistake that could have otherwise been avoided.
Become familiar with the basics of investing, and you will be better at:
• Evaluating the advice you are receiving
• Making investment decisions
• Maintaining appropriate and prudent investment strategies with your savings
Until you are conversant, insist on thorough explanations in terms you understand.
You work hard for your money and even harder to put money into your investment accounts. Don’t compound the risk of investing by being uniformed.