Just My Growing Up in Learning Finances- Still a Noob and Having Much to Learn!

In life, you can never say you'll never make a bad financial decision.  So just a thought on some tips I have encouraged to myself based on experience:

1.) Never be too trusting. Believe me I have fallen on that, it was a family friend that conned me that hard!  So what I thought about it is that while being paranoid is bad, being too trusting is just as bad.  There's a balance that is needed or the need to hold credit transactions on hold.  If you ask me, I guess the person must be behind bars now since I'm not the only victim.

2.) For credit cards, be careful about these transactions.  Before making a charge, see your cash balance first!  In my case, if I cannot afford anything, I save money first before I charge it to my credit card.  If necessary, ask financial advisers on the matter of what to accept and not to accept.  I've been too impulsive to accept deals easily but now it needs to be thrown away.  One of the things I did was to enroll in an automatic payment to my account in the case I become too busy to pay my bills at the bank.  At the same time, I follow some "sinking cash deposit" to make sure I have money.  Plus, I plan my expenses to make sure I don't buy beyond what I can buy.

3.) Throw away the double your money scams.  BankStupid was one of the many banks that really worked. Maybe consider the Bernard Madoff investment scam or the Legacy banks which are all counted as Ponzi scams.  Any promise to double your money that fast is too good to be true.  I was deceived by it.  To be honest, even other competent banks who once offered it threw it away because it was too risky for the bank's standing.  Some of these companies carry even very ridiculous names like Reyality, AdZenz and Visioner 2020 to name a few.

4.) For stocks, DO NOT engage if you don't have excess earnings and if you do, even just be conservative with everything.  Making sure to buy during the low season and sell during the high season.  Purchase only what you can afford, maybe even just 10% or less of excess funds to get trained.  For one thing, ask reliable stock exchange companies and they'll discourage aggressive stock buying which can really damage anybody.  As for now, I am not engaged into this one yet due to the high risk factor this has.

5.) Retail treasury bonds and UITF.  I have done time deposits in the past, lately I have engaged in Treasury Bonds and UITF to which has higher yields but not ridiculously high.  In my experience, the UITF trading has been a shelter for my funds until the next Treasury Bond purchase.  I usually check the prices and if it's already high, I don't wait for it to be higher because the chances of price drops are much higher.  Instead, I sell it when it's already high and not sell it when it's low to avoid losses.