Millennial Money: 3 Things To Do Before You Buy Electronic Money

Investing in electronic money can be easily just a few touches on your phone and with electronic money on all the news, and appears in conversations with friends. However, depending on your financial situation and the desire to invest risks, electronic money may not be an appropriate investment for you now - or ever: 00/0: 00 namfile domain - in Photo, on February 9, 2021, the Bitcoin symbol appears on the display of an electronic ATM at Smokerer's Choice store in Salem, according to professionals, before immersion Electronic money, it will help you get your finances in order - that means posing money on money, build your savings and contribute to your retirement account - then Self-study on how electronic money works. (Photo AP) Tyrone Ross, CEO of ONRAMP INVEST, an electronic money platform for registered investment advisors said: "I believe Hippie the biggest electronic money you will talk in one Very long time. However, he warned its denial. "I don't think the public should invest in electronic money

." Please imagine your finances like a cream cake, with electronic money is the cherry fruit above. It takes a small percentage in the overall cake and not everyone wants one. And before taking cherries out of the jar, you need to gather the rest of the dessert
In other words, that means creating a solid financial foundation and finds out everything you can about electronic money before you quit any real sum of money in 1. Ensuring financial safety at the first and most important place, you need to prepare for times when things don't take place as a plan. In the past year, employees who lost income because the pandemic had to save, Repayment or participation in difficult programs to cover their bills. This time is a clear reminder of the importance of having an emergency fund. "When you are young, you can feel like a superman or superman female, but when the bubble happens, you have It is easy to lose a job from 9 to 12 months, "Theresa Morrison, a financial planner in Tucson, Arizona said. "Don't underestimate systematic shocks for the market." Morrison recommends saving six months of living expenses if you are single, or about three months if you share the cost with your wife / husband work. But the storage despite a few hundred dollars may also be useful when you face an unexpected expense. And if you have any high interest rate debts, such as credit card debt, the payment of this debt can reinforce your financial position. See your coverage again, because These policies can provide a very necessary amount in difficult times
Life insurance can be especially important if you have a dependent. Saving and investing in future plans When you have money for emergencies, start thinking about your short-term, medium and long-term financial goals. Of course, retirement is a large amount to save, so contribute to your retirement account (especially if you have access to a plan suitable for employers). But set specific savings goals for other main steps in life. "Most people want to travel every year, buy houses for 10 years, married for 10 years. These things costly money, "Morrison said. "Place its costs in today's conditions and find out the amount to save from your wages every month. In my experience, only that could have been $ 1,000 a month. "3. Being educated about currency you have money and you are ready to jump into electronic money race, only what you don't know how someone even buy electronic money. Or how will it match your overall financial plan. Or if it's too risky for you. When dissipate, don't do anything with your money that you don't understand. Spend a moment to find out everything you can know about electronic money. Understanding its operation mechanism is important. At the same time you should find out your investor's type, because that also affects the kind of investment that suits you. "There is a process you have to go through to determine if this new asset type is educated Good for you. What is your plan? How old are you? What is your goal? How do you understand technology? Do you understand the meaning of keeping these assets and they are not covered? If anything happens to you, who in your family knows this to get it? "Ross said. "Everyone doesn't do the right assessment before pouring money into something. I know it's not a sexy answer, but that's true ". If you still want to be able to use in Crypto, start small when you have grasped the way of work all, you can start to fail Think about allocating a residual cash

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