Don’t Let These Mistakes Affect Your Finances

Finances are always a tricky thing to handle, but there’s a case to be made that when it comes to getting them in order, we’re our own worst enemies. If we were sensible, we’d have everything under control! OK, that’s a bit harsh, and not really true – there are many more factors that go into life than just our situation, and we can’t expect to focus all our energies on making the right financial decisions. Still, there are some mistakes you’ll want to avoid. We take a look at a few of them below.

Bored With Your Job

There’s a strong case to be made for following your dreams. If you’re working in a job you love, your life satisfaction will skyrocket! However, it’s important that you’re not just quitting your job and trying to land on your feet in your preferred position. That’s a recipe for disaster. Instead, think of your dream job as something you work towards alongside your existing job. When you’ve got all the pieces in position and you know you can give up your current work without suffering financially, then go for it.

One Issue With The Law

You never know what life is going to throw at you. Everything could be going swimmingly, but you make one mistake, and then your life becomes much more difficult. For example, if you’re arrested for a DUI, you could find that you face unemployment and other factors that would severely compromise your financial situation. So don’t let one mistake have an overly influential impact on your long-term financial health; hire a criminal defense lawyer, and fight to clear your name. There’s no reason to have your hitherto sound financial work undone just because you made one small error.

Saying Yes…All The Time

Life is for living, but sometimes, we take this too far. We can’t say yes to everything! If your friend is getting married overseas, then you need to figure out whether you can afford the flight, the hotel, the gift, and so on – not just whether you want to go or not. Of course you do! Putting a big trip on a credit card can sound appealing, but do it more than once – or even just once – and you’ll be asking for trouble that can be difficult to undo without working hard.

Jumping In Too Soon

Our emotions can sometimes get the better of us. We figure we want to buy a house, and then all of a sudden that’s all we can think of. Before we know it, we’ve got the keys! When it comes to big decisions like buying a home, a car, or getting married, it’s imperative that you slow down, and think carefully. The impact they have on your finances is too great not to.

Being Generous

Finally, remember that while being generous is a good thing, it’s only sensible if you can afford it. Using your credit card to buy Christmas presents for the whole family is not smart!



Arnel Ariate is the webmaster of Money Soldiers.

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