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Investment advice from cats
1. If you are a cat owner you will know all about their
independent ways. If you don’t own a cat, you may have
observed the fascination that cat owners have about
feline behaviour. Cats are the masters of finance and we
can all benefit from their investment prowess.
Here are six important lessons we can learn from cats.
Great investment tips... from cats
Image source: Tambako The Jaguar Flickr
2. You don’t have to figure out
your entire financial life before
taking the first step. Just get
started and forget the excuses.
This might mean consolidating
your many super accounts into
one, taking out life insurance,
paying off your credit card
debt, or starting a savings plan.
Beginning something today
means you are way ahead of
any of the best intentions.
If you can’t make
time to lick all your
paws - it’s OK to
lick just one
Image source: Charles Barilleaux, Flickr
3. You don’t need to have all the
luxuries of life today. Fast
credit means it’s easy to buy
that huge 3D TV but end up
paying for it a lot longer than
you’d planned.
Debt can be a devil unless you
use it wisely.
Shed your fur coat
Image source: Tim Sackton, Flickr
4. Once you have started a
savings or debt reduction plan,
keep it going. Make regular and
steady contributions, however
small.
Have the money taken
automatically from your pay or
bank account. That way you’ll
never miss it. Just think if you
could save just $150 every
month and earn 7% you would
have over $78,000 in 20 years.
Feed me
consistently - if not
constantly
Image source: Brian Leon, Flickr
5. Don’t be afraid to walk away
from investments that don’t
feel right. It’s your money and
you are going to need it to
launch your kids on their lives
or fund your retirement.
If you don’t understand an
investment or
recommendations that are
being made to you, say so. If
you’re not comfortable, give a
discerning sniff, put your tail in
the air and move on.
Haughtily dismiss
those things which
are beneath you
Image source: Doug Weller, Flickr
6. Err on the side of caution.
There’s nothing wrong with
taking your time to fully
understand before you leap.
It’s OK to be a bit
jumpy and
suspicious of
everything
Image source: ace_alehandre, Flickr
7. You need to clean out your litter tray from time to time. Never be
afraid to sell a bad investment. If you doubt that the investment
will recover, better to sell it and invest what is left in something
that you believe will perform better. As long as you learn from your
investing mistakes, there is no such thing as a total loss. Take it
from the cats!
Bury anything that smells
Image source: cat-astrophes.com