4 money mistakes to avoid

Little everyday choices can have a big impact on your finances. If you want to save more or spend less, think about whether you’re making any of these mistakes.


Mistake #1: You put off saving money.

Do you think that you can wait a few more months or even years before you need to save for retirement, your kids’ college or other future needs? Even if you can only put away a few dollars each week, start now. It can add up over time and the sooner you start, the more money you’ll have later.


Mistake #2: You spend too much on “treats.”

We all like to treat ourselves once in a while. But, if you’re spending money on treats often, such as going to the movies or buying yourself a new item, you could be creating money problems. Look for low-cost or free ways to reward yourself. Set aside some time with a friend, take a hot bath, watch a favorite movie at home or check out free museums and concerts.


Mistake #3: You get lots of coupons in your mail and email.

If you get catalogs in the mail and your inbox is filled with coupons and deals, this could be wrecking your money goals. After all, you may not need the items that are advertised. But, they look like such a good deal that you decide to buy them anyway. Do you really need another sweater or pair of jeans, or are you buying them because of the sale? Unsubscribe from email coupons and newsletters, and throw catalogs in the recycling bin. This can help lower the temptation to shop.


Mistake #4: You don’t know how much money you really have.

If you are struggling financially, it can be hard to look at your bank account balances. But, it’s better to know what you can afford than to go deeper into debt. Make a budget of what you have and what you can spend each month after bills are paid. Try to stick to your budget and find ways to cut out unnecessary items.

This website is not meant to substitute for expert medical advice or treatment. Follow your doctor’s or health care provider’s advice if it differs from what is given in this guide.


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