6/23/2021
The Most Common Financial Mistakes and How to Avoid Them | Matthew Littlemore | Finance Blog
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The Most Common Financial Mistakes and How to Avoid Them by matthewlittlemore | Jun 23, 2021 | Finance, Matthew Littlemore
When starting out, most people make a lot of wrong decisions regarding their finances. And in some cases, unfortunately, these financial mistakes could lead to significant economic hardships. That said, the following article takes a deep dive into some of the most common financial mistakes that people make and effective ways to avoid them. Living on Borrowed Money When found in a tight financial situation, many people are tempted to borrow money from family or friends or use credit cards to buy the essentials and the non-essentials. That being said, living on borrowed money is undoubtedly a financial mistake as it makes people more likely to spend more than they earn without even realizing it. To kick the credit card habit and avoid running up a considerable amount of debt, people should start following a budget. Not Budgeting Speaking of following a budget, a substantial number of individuals do not have a monthto-month budget. However, failing to follow a budget means failing to control the financial situation and having no clue where the money is going every month. On that premise,
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