Tips On How To Spend Your Money Wisely - By Shaun Stenning

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For some people, financial struggles are due to not bringing in enough money. For many others, though, the problem comes from not spending money wisely or from spending more money than they make.


Shaun Stenning once said, “In order to become wealthy or reach your financial goals, you’ll have to learn how to invest money wisely. Investing money is very much based on your personal interests, timelines, risks you can afford, and many other factors. “What” and “how” you invest might be very different from the next person.”


So here are some tips from Shaun that will help you more to spend your money wisely: 


  1. Set yourself a goal and decide how much money you can invest. It’s essential to determine what your goal is in terms of investment (save towards your retirement, earn short-term returns, or save a lump sum for the purchase of a flat, etc.).

  2. Patience and common sense. Remember, investment is a marathon, not a sprint! The value of your investment will go up and down over time. 

  3. Stay informed. Read news about markets, stocks, and investment strategies. Everything helps and it could be useful in making the right decision. 

  4. Determine your risk profile. It’s important to understand how much money you can risk. Remember, if you’re looking to earn higher returns, you’ll have to take a higher level of risk.


No matter how young (or old) that you are or how little money you have to invest, putting your money into quality companies that will grow in value as time goes on is always a wise use of your income.

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