Do you have any idea how much an ounce of gold cost? If you do know the price, the next question is how much that price was the last 5 years? Some people never pay attention to what financially matter and they think that they are unlucky. If your answers of the above questions were no, then this article can change your financial habits.
It is difficult to find any wealthy people who does not care about the prices of the stocks, precious metals, real estate and other assets. But most average people have no idea what happens in the business world. It is hard to start investing in anything if you never follow the prices of the different assets.
Why do you need to learn about investing?
Almost all the countries in the world use fiat currencies which are not backed up by gold. That means their currencies are fully controlled by either their governments or their federal reserves. That makes it easy for them to print money as much as they like.
For example, printing $100 bill cost only a few cents and that makes creating more money cheap for them. When a government print extra currencies out of nothing, that devalues all the money in the circulation including yours. Saving fiat currencies is the worse you can do financially, because its value drops overtime.
According to economic experts, gold has almost the same value from the time of Romans until now. By investing in gold for example, you protect the value of your money.
How to start the habit of investing?
One of the richest man in the world has screens almost everywhere in his huge house. It is his habit apparently to watch the prices of the stocks and to follow his investments every moment. The habit of investing you can develop gradually just like any other habits. If you do not follow the prices of the stocks, precious metals, real estate and others, you can start educating your self financially from now.
Bookmarking websites which provide you the following information:
- Business news, at least two websites.
- The current price of gold and silver including their prices for the last 5 years or more.
- The price of crypto currencies like Bitcoin & Alt-coins. Read More: Can Bitcoin Make You Rich? Who Is Behind It?
- Stock market news.
- Exchange rate of the international currencies.
- Crude oil price.
Try to spend a few minutes everyday to inform yourself about the business news and the mentioned prices. Once you follow the above asset prices, you develop gradually the mindset of investing.
After a while you start to search more information and details about more asset types and you will eventually start to invest in something that makes sense to you.
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Author: Sar Maroof
Education: Bachelor Science and Applied Science in Physics.
Professional Java webdeveloper as well as several certificates in different branches
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