So I was at a seminar a few days back where a certain software that helps users trade currencies was being talked about.
The host like many others went on and on about how this was the next best thing and how it was fool proof and had no risk factor. He totally enraptured the audience, excluding myself about how one could make a billion naira in the next four years using the software.
Many as usual appeared convinced and totally enamored by this ‘new’ revelation. But just in case you are one of those about to take a decision to invest your money into a new venture or any venture for that matter, here are three types of money you should NOT use:
- Never invest money that you’ll need in a short time. If that money you are banking on happens to be all you’ve got as your savings and what you most certainly will be needing in a few weeks, or months down the line, then don’t do it.
Money like that that is meant for a particular project, school fees, house rent, emergency funds and the likes are things you must not put in an investment you are not certain of its outcome. And yes, nothing is ever sure. You may think its all fool proof until you get in and an unexpected turn emerges.
2. Don’t invest money that isn’t yours: So a certain amount of money has been kept in your care. You must understand that this only happened because such an individual has reposed a level of trust in you. By all means don’t rubbish this trust by using such money in an attempt to play smart or make a quick earning.
Many make this mistake and on the long run end up biting their fingers in ‘had I known’. If you cannot boast and say that that money you intend to invest is a hundred per cent yours, then the word of caution here is this, don’t do it. This is except of course you are under instruction from the owner.
