6. Don’t borrow money to invest
Every financial guru will tell you to invest your money in something, if you want to be financially stable in future.
While this is great advice, you must also ensure that you do not use borrowed money (money that is not originally yours) to invest…no matter how lucrative the investment seems or how much of an asset you assume it will be.
In the case where the investment you want to make is either a fixed deposit or bond, you will eventually find that the dividends may not able to match the rate of interest you pay on the loan. Again, even investments, such as equities, that offer higher returns, can be too risky
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