In addition to working hard to earn a living, most people dream of a comfortable life and the ability to take care of themselves in old age. And to get the life you want, in addition to working hard to earn money, everyone must know what to do and what not to do.
Together, today Business Cambodia would like to highlight three important things that you should avoid if you do not want life to fall into the wrong path and lose money in vain. Those three stories include:
1. Borrow money with high interest
Debt settlement can make the difference between success and failure. On the other hand, it will be a burden if you borrow money to spend it the wrong way, and even worse if you borrow it from the wrong place to touch the informal interest.
Informal interest, also known as illegal interest, is higher than the level set by the National Bank, at more than 18% per annum. When you create a debt with high-interest rates, it is no different than dragging yourself down the aisle, as you may face the same level of debt repayment as possible until the property is foreclosed on.
2. Play pong ( Tong Tin)
Playing tungsten is a very risky investment, it faces scams, especially the runaway. Kem Lida, a market vendor, told Business Cambodia that she played pong with three different bosses to raise money for her groceries, but one year her pontiff, who was also a marketer, ran away. Abandoned the district and did not give any money to any of the children.
She also stated, "You should not play tungsten, no matter how reliable the tungsten is, because if people have problems or deadlocks, they will try to find an easy way out, like some tungsten. Your money runs away and disappears at once. ”
3. Guaranteed high return on investment
Investing is one way to increase your money and even generate passive income for you. But if someone asks you to invest with them, guaranteeing a 50% or 60% return, do not believe it.
Experts say that a business can earn a maximum profit of 25% to 30% per year, which is generally 15% more than enough. So it is not possible to say that if you deposit $ 10,000 with me next year, you will get back $ 20,000, which means that you will get 100% profit in just one year.
Please be informed that you want to be rich is not wrong, but you must be careful, do not want to have shortcuts before believing their words, please analyze in detail what they say is reasonable. On the other hand, remember that wealth does not come easily if someone comes to the investor, claiming that the profits are too much without working hard, just put the money in, it is just a scam.