A common mistake businesses often make is to spend money too quickly. Instead of falling victim to this mistake, be more conservative with your finances and don’t spend money you don’t have.
Moreover, don’t take a loan for the amount you’re approved for if you don’t actually need that full amount right now. You don’t want to pay interest for money that’s just sitting in the bank account.
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Amy Orr is a professional writer and editor with over 10 years of experience in the Canadian, U.S. and U.K. financial markets. She has written for numerous publications on topics as diverse as economic literacy, corporate finance, and technical analysis of numerical data. Prior to transitioning to full-time writing, she worked in the hedge fund sector. Her academic background is astrophysics, and she has a Masters in Finance from the University of Edinburgh Business School.
