12 things no one should ever do with their money by Roger Wohlner on Oct 12, 2015, 1:00 PM 
Surely the list of things you should never do with your money is longer than these 12 recommendations. But you have to start somewhere. To give you some guidance, we asked financial experts to share their take on how to protect your financial security and avoid getting snookered. SEE ALSO: 9 hard truths about money your successful friends won't tell you  1. Don’t cash your paycheck. Having cash in hand can be dangerously tempting. “You will most certainly spend it all” if you cash your paycheck rather than have your employer directly deposit it into your bank account, said Barbara Friedberg, a financial expert and founder of BarbaraFriedbergPersonalFinance.com. “Even better is to automatically transfer a percent of your paycheck into a retirement investment account and direct-deposit the remainder into a bank account,” she said. One such advantage about a workplace retirement plan such as a 401k is that money is automatically deducted from your pay and invested. You don’t see it so you won’t spend it.
 2. Avoid special finance deals. Promotional finance offers that provide zero or low interest rates on a big purchase might sound like a great deal — until you wind up paying more than you expected. That’s what happened to Grayson Bell, an entrepreneur and personal finance blogger. “Don’t finance a new vehicle, or watercraft in my case, based on the low promotional monthly payment. I financed a new $10,000 Jet Ski with no money down and no real way to pay for it based on a radio ad promoting a super low $69 per month payment. What I didn’t read was the rate was only for two years, then it changes to include retroactive interest based on the loan amount,” he said. “Those financing deals can ruin you if you’re only looking at the monthly payment. Go through the math and read all of the fine print. They get you in with the low monthly payments, but keep you paying for much longer than you anticipated.” These special finance offers are only a good deal if you can pay off the purchase without incurring interest.
 3. Don’t co-sign a loan. Michelle Schroeder-Gardener, another personal finance blogger, said you should never co-sign on a loan for someone unless you have the means to pay it back fully. “The fact is that you never know if the person will be able to pay every single payment, so it’s best to prepare yourself,” she said.
See the rest of the story at Business Insider
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