10 Money Mistakes Successful People Don’t Make

7. They don’t take foolish risks in money.

Warren Buffet is often quoted as saying, “Rule number one is never lose money.” All investments carry some measure of risk (and therefore the potential to lose money). That said, successful people use two powerful tools to avoid losses. They understand the value of insurance to control risk (e.g. home, auto, and life insurance) and the importance of asset allocation

Remember: If it sounds too good to be true (or if you don’t understand how it works), slow down and start asking plenty of questions.