I was wondering if you or someone you know is investing money without having healthy money habits? I believe it's kinda requirement to be somehow financially literate and track your income, expenses and do budgeting before you even think about investing. However my friend don't think so and wants to just passively send either fixed amount or salary percentage without thinking about finances. What are your thoughts and philosophy around this?
Edit: to clarify, I am talking about general public and their money habits. If you have high income and low expenses, you don't need to do super detailed tracking but if 70% of your income is living expenses and you don't know how much money you work with, just swipe and swipe till you see zero in your bank. Like do people who don't know how much they can spend or people who don't even save money in hysa invest? Probably no, because you should care about knowing where your money goes so you track it. After you are aware of your money habits and expenses, then you start thinking about investing - but that's just my hypothesis.