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What Not to Do With Your Money You've worked hard to earn your money. Here's how to avoid completely throwing it away.

By Jeff Rose

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Jeff Rose discusses five things you should never do with your finances.

  1. Do not gamble. Rose points out there are tons of other ways to use your money, including investing it rather than trusting pure luck.
  2. Do not have too much of it sitting in cash. It is wise to have a little cash for savings and emergency, but too much cash sitting outside of a proper account is simply being complacent with your money.
  3. Do not buy things you don't understand. Even if something is all the rage, you don't need to invest in it if you simply don't know the intricacies of it. As an example, Rose points out how many eager people clamored to invest in cryptocurrency when it first came out.

Hear the rest of the financial tips and missteps by watching the video.

Related: How to Ask for Help From Important People

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Jeff Rose

Certified Financial Planner, Author and Blogger

Jeff Rose is an entrepreneur disguised as a certified financial planner, author and blogger.  He's best know for his blog GoodFinancialCents.com and book, Soldier of Finance: Take Charge of Your Money and Invest in Your Future.  He's also the editor of LifeInsurancebyJeff.com. He escaped a path of financial destruction from dropping out of college with over $20,000 of credit card debt to become a self-made millionaire. His mission is help future generations achieve financial freedom by developing strong money habits and unleashing their entrepreneurial spirit.   

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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