Biggest money mistakes

[Starmix]

Money mistakes are not intentional. It may be because we are easily tempted by extravagance. We are also exploited by our peer. But once we grow mature, it will not happen to us again. We will become a straight person.

 

[Sanjeev]

A lot of people make this money mistake. it is always good to either save or invest money when one starts working

That's true. Every parent teaches this to his/her kid but they don't listen to the golden advice. My father also used to tell me to invest my money when I started job but I never listened to him.

 

[Augusta]

That's true. Every parent teaches this to his/her kid but they don't listen to the golden advice. My father also used to tell me to invest my money when I started job but I never listened to him.

Yeah a lot of times we missed opportunity at doing good with your financial life because we did t heed to advice

 

[AruneBend]

you need to be careful with money you can lose it very easily these steps are important if you want to be comfortable

 

[Starmix]

We have to avoid money mistakes. Our goal is to be financially free especially during old age or retirement. Our strength isn't the same during the younger years.

 

[Augusta]

you need to be careful with money you can lose it very easily these steps are important if you want to be comfortable

Yes you need to always keep your money well. if you don't, you would easily misplaced it or someone steal from you.

 

[King Belieal]

One money mistake that might not seem like a money mistake is the friends we keep. Your friends can push you to be extravagant. Keep friends that are prudent and have a goal.

 

[Starmix]

Sometime our pride pushes us to spend despite shallow reason just to impress others. Money isn't a stone and it's hard to earn, but spends only in split seconds for a useless pride.

 

[Stardom22]

l think in my country most people are unemployed that is why its pretty impossible to avoid those kinds of mistakes for that matter

 

[Starmix]

From your discussion starting from 1 to 3, I can conclude that the main problem is that they do not have a definite and clear financial plan such as saving/investing, paying off debt, long-term financial plans or retirement funds. Without a plan we will walk without a definite goal and direction.

Yes, you are so right, and we also cannot blame them because they might be the sole earner in their families and they only have very little money left after the payday. However, they are not deprived of investing and doing extra income like finding online jobs.

 

[Springtime]

According to the moneywise engineer, there are biggest money mistakes made by some of us. It is best to know them so that we can avoid them. Those who have kids can give insights to them on what to do with money once they grow mature. These are the following:

1. Age 20- not investing early;
2. Age 40- Not paying off debt earlier, and
3. Age 50 Not saving enough for retirement.

We should avoid these money mistakes to avoid regrets once retire or about to retire.

This is very true. I made the mistake of not investing earlier and I should start saving for retirement earlier.

 

[Starmix]

This is very true. I made the mistake of not investing earlier and I should start saving for retirement earlier.

I think you still have time to do it. You already have investments and no debts. You have acquired an apartment and your concern now is now your retirement. I think you're deducted every payroll intended for retirement from your previous work.