Main Dangers in Personal Finance Information

As a person who has consumed a lot of information about personal finances, I have discovered many types of articles on this subject quite good . But also a lot of garbage floating in the water.

Let’s see 9 things that tell me that I should not bother reading the article . If you want to take advantage of your time and focus on quality content, I recommend that you continue reading and learn to separate the grain from the straw.

 

Irrational promotion of specific financial products

financial products

Individual councils are of great value when they are backed by solid and thorough research, but the articles that proclaim the benefits of certain specific financial products tend to be little more than sponsored articles. Don’t waste your time reading unless you see clear research and abundant comparisons.

 

High profitability for little work

If there is a simple way to get rich, everyone would use it . The truth is that people who really achieve extraordinary profitability have knowledge and years of research for many years.

 

Show off success without showing it

Show off success without showing it

Some people claim to have obtained incredible returns but without demonstrating anything. If there are fund managers, for example, with great results in their investments and these data have been proven, why should you pay attention to someone who does not demonstrate what he says?

 

Promises Guaranteed Beyond Reasonable

When someone guarantees something that is not feasible that they can accomplish, above all, linked to incredible returns, then the article is usually full of nonsense. No investment is guaranteed, there is always a small risk, no matter how small.

 

Save money by buying a consumer good instead

Save money by buying a consumer good instead

When you go to a store and spend money on things that are not essential or that you do not need, you are doing the opposite of saving money. The purchase of a television of 800 euros instead of 1,500 euros, is not making you save 700 euros, but spending without need 800 euros on something you do not need.

 

Promises about a system that always beats the market

If a “system” can beat the market over and over again, why isn’t that columnist working on a large fund manager, or why is he not retired enjoying the money he has earned?

 

Incredible returns without commenting on the risks

Incredible returns without commenting on the risks

Even if it is true that an investment achieves incredible returns , there are always reasons why not everyone is prepared to invest in that. And most of the time, those reasons are the risks inherent in that investment. Why is an investment good and why could it cease to be? If you don’t answer the article to this question, you better pass by.

 

 Savings tips that are impossible for anyone to do

I often read savings articles that reduce expenses in a radical way but lead to a lifestyle that is unbearable for many people in the West.

 

Many investment products analyzed at the same time

Many investment products analyzed at the same time

If you see an article that evaluates many financial products at once, you should ask yourself if each product is really well analyzed individually. The most normal is that the “analysis” is quite superficial and of little rigor.

These are the main dangers you may encounter when reading information about personal finances.

But surely there is more, do you share them with everyone in the comments?

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