Common Money Mistakes

Managing money can be difficult. However, recognizing and eliminating common money mistakes can make dealing with finances a bit easier. Check out this list to see if you spot any familiar habits you can stop in their tracks.

Couple budgeting surrounded by envelopes

Not having a budget

It’s a lot easier to overspend when you don’t have a set budget and a clear idea of where your money is going.

Holding shopping bags

Spending more money than you earn

More going out than coming in is a major money mistake and complicates daily financial management.

Man trying to fix his own plumbing

Not saving for emergencies

Unexpected emergencies happen. Savings for these occasions removes some of the financial pain.

Girl looking at burger

Eating out too often

Dining out adds up – even at fast food restaurants – when it’s not part of a planned budget.

Woman shopping online with computer

Running up credit cards

Credit card debt can take up a big chunk of your earnings if you’re not careful. Then the interest charges add up, making it even harder to save for the future.