Financial Advice — Do’s and Don’ts


The good thing about the Internet is that anyone can start a blog. The bad thing about the Internet is that anyone can start a blog. There’s a lot of content about how to manage your money and build long-term wealth, but not all of it is good. Take it from us. We know things.

Invest Your Money

Unless you live under a rock, you’ve heard the news on TV or social media on all the “meme” stock and get rich quick stocks people are going after. Well, that’s it. They are get-rich-quick stocks that if you missed the mark, you are going to lose your investment. These stocks are known as volatile stocks and rise and sink any day. They are known to be risky, and you can lose everything you purchased in a matter of 24 hours. There are safer ways to invest your money to grow for the long term.

  • DO: Place your money into a safe and secure CD at your financial institution. You are guaranteed to grow your money and won’t lose a dime.
  • DON’T: Put your entire paycheck into Dogecoin or Gamestop stock. Yes, there was a moment when you could have made serious money very quickly with these but, they are both very volatile, and as soon as they went up, they have gone down and up again. You never know what it’s going to do.

Don’t Hoard Your Cash

It’s a great idea to put some cash in a lockbox or a safe place in your house for emergency quick cash. However, it’s a terrible idea to hoard all your cash. To build wealth, you need to invest to make your money work for you.

  • DO: Set up automatic direct deposits from your checking into a savings account. Setting aside $50 a month turns into $600 a year.
  • DON’T: Put a massive stack of cash in an envelope in a secret shoebox under the bed. It’s not safe there and won’t grow anything except dust. EWW. 

It’s On Sale, Buy Now

Just a typical day as you walk into the store to pick up a few items, and there it is… That massive 70 inch TV you suddenly have to have! Oh wait, it’s on sale from $1000 down to $750? You have to buy it now! WRONG. Let’s back up. You went in to buy toothpaste, a stick of gum, and margarita mix, and you walked out with a TV. No honey, that’s not the way we do it. You need to save for large items even if they are on sale. Remember, you didn’t save $250; you spent $750. There is a difference.

  • DO: Make a list of the big items you want this year. Set financial goals and plan to buy that item once you reach a certain amount. Trust me, your bank account and future self will thank you later.
  • DON’T: Go grocery shopping while hungry. You buy things you don’t need. The same happens when you see a sale. You buy stuff you don’t need… yet! Remember, the super bowl is eight months away. Use that time to save up. 


We may not be as large of a financial institution as some of the big banks. However, the key is to build relationships, not just following advice because it seems like a good idea at the time. We live in the same neighborhoods and shop at the same stores as you. That old phrase, “we know where you’re coming from,” well, we mean it. BR Telco has advisers on staff who can help provide actionable steps to build long-term wealth, not just short-term security. Like I said in the beginning, we know things!


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