10 commandments on personal finance and investments

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Here are 10 simple and easy to apply tips that will help you achieve real financial prosperity.
tips

1 . You will look for simplicity.
It is a lie that the most complicated investments are the best. In general, complicated investment strategies are designed to enrich brokers and sellers.

2 . If you invest in the long term, you will invest in equities.
Equities are more volatile than fixed income, but they generally produce much more profit, compared to fixed income, if your investment is long term.

It may interest you ... What is fixed income? and what is variable income?

3 . You will save.
Saving is one of the legs of your financial prosperity, precisely the second:
Generation of income.
Saving.
Investment.
If you want to achieve financial prosperity, it is essential that you save.

You may be interested ... 3 tips to start saving, easy and fast.
And also ... How much money you should allocate to your savings.

4 . You will not spend to impress others.
Spending to impress others only reveals a lack of confidence in yourself. In addition to that if you spend for this reason, surely they are superfluous expenses, that only they are going to manage to move away of your financial prosperity.

You may be interested ... 3 powerful tips for you to make smart purchases.

5 . You will value your time.
You have to know how much you earn per hour, and remember it every time you go to make some superfluous expense.
You can calculate how much you earn per hour with the following formula:

SALARY / WORKING HOURS PER MONTH = $ x HOUR

6 . You will teach your successors about money.
In important that you are the guide for the people that depend on you in the world. Teach them about money and prepare them for a prosperous life.

7 . You will follow your plan. (You will not be a sheep)
You must have a strategy and respect it, beyond what others do.

8 . You will be patient.
Patience is one of the most important virtues you can have. A road of a thousand kilometers begins with a single step, and you need patience and perseverance to reach your destination.

9 . Diversify.
Putting eggs in different baskets is essential. It ensures you avoid a catastrophe in your economy if one of your investments goes wrong.

10 . You will control your emotions.
Thinking and acting with a cool head is fundamental when investing. You have to be 100% logical. To emotion leave it for romantic movies. Here we are talking about money.