Don't be a fool this April: financial decisions to avoid

The 1st of April may be a day for pranks and laughter, but when it comes to your finances, being a fool can have lasting consequences.

- Johann Rossouw

This year, steer clear of the silly financial "tips" and embrace smart money moves that will leave you feeling empowered rather than embarrassed.

Below, we've listed a couple of foolish financial decisions that you should actively look to avoid—not only in April but every day of every year.

We have also listed some smart money moves that will make your wallet smile:

Folly #1: Investing in the "next big thing" you heard about at a braai.

Reality: There is no doubt about it—South Africans are social creatures. We love nothing more than to gather around the braai with something cold to drink and to talk about everything from rugby to politics to finances. It is important to be very wary of the information you consume.

The news is full of stories about people who have lost their hard-earned savings through get-rich-quick schemes.

Don't fall for fleeting trends or insider tips that you heard about through the grapevine.

Research thoroughly before investing and consider a diversified portfolio that aligns with your risk tolerance.