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DESPITE CRYPTO RISK ITS CRAZE IS GROWING IN EVERY CORNER OF THE WORLD

DESPITE CRYPTO RISK ITS CRAZE IS GROWING IN EVERY CORNER OF THE WORLD 

Cryptocurrencies, financial assets shared within the blockchain, create excitement and activity for new investors, from Baby Boomers to Gen Z. It also helped illuminate the much-needed light on the general public financial need.


The fact is, improving your financial health can be far more beneficial than your pocketbook: Harvard researchers have found that learning more about money contributes to better mental and physical health and is associated with lower risk of depression.


If you want to improve your financial skills, here are three important lessons to keep in mind:


Do not let market pressures overwhelm you

Amid rising inflation and interest rates and the ongoing uncertainty about the Ukrainian war, financial markets have been on the move for the past few months. If your portfolio loses value immediately, it may be tempting to completely deregulate the markets. But do not panic - think carefully about all the options available, including keeping separate and not making major changes in your portfolio, especially for long-term investors.


Setting time on the market - knowing exactly when and how to enter to reduce losses and maximize potential benefits - is almost impossible, even for professional investors. During the ups and downs, it is important to remember that if you are on it for a long time, daily measurements should not be moderate concentrations.


Market volatility is a normal part of investing and should not cause panic or rapid changes in your investment if you take a long-term approach.


Trust Your Community

Building your financial knowledge can feel frustrating if you do not have a background on financial topics - even if there are a lot of Dogecoin memes. But you may be able to access resources that can help you get started. Programs in your community can serve as an important financial (and often overlooked) option for people who are concerned about money and the future. You may find that you have more resources available than you realize.


SEE MORE You may be worried about the economy too much


Research what is happening in your city or town when it comes to financial education training or courses, especially at a local college or non-profit organization. There are also resources such as the Financial Health Network that can assist you in your financial literacy journey. Or you can turn to your financial advisor or career benefits provider for more content or building materials that can help you improve your financial education.

While most of us have grown up learning that it is wrong or disrespectful to talk about money, being silent about your financial concerns or questions can have a detrimental effect. Although it may seem hard to talk about money at first, it does get easier over time.


It is very important to be open and transparent with your partner about money, which may prevent future financial conflicts. If you have children, be sure to include them in your discussions about finances as well, as open and honest conversations about money can help them to have good financial relationships as they grow older.


In addition to your personal finance education, looking for advice and resources online, visible or experienced financial professionals can help ensure your learning and be an important tool in initiating, renewing or maintaining your financial security.


While cryptocurrency may arouse your interest in financial literacy, learning about the broader financial markets is a wise move. Once you understand how money works, you can begin to put actions and behaviors into action to improve or protect your financial situation.

Source: yahoo



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