Choices you’ll regret in 10 years

By Jeff Rose / Credit.com   Article

10 Financial Choices You’ll Regret in 10 Years

1. Waiting to Start a Budget

… The beautiful thing about a budget is that it not only keeps you on track with your spending, but it tells you what you should feel free to spend.  …

2. Not Paying Off Credit Card Balances Every Month

… If you’re not paying off your credit cards every month, you should start. …

3. Buying a Financial Product Without Doing Your Homework

… make sure you educate yourself on the product before you sign on the dotted line. …

4. Neglecting Your Emergency Fund

… have eight months worth of expenses in an emergency fund. …

5. Buying a New Vehicle When You Can’t Afford It

… please don’t. …

6. Letting Hubris Get in the Way of Smart Investing

If you … haven’t been exposed to financial education, you really can make some huge mistakes by going it alone. …

7. Ignoring Your Insurance Options

… disability insurance, perhaps long-term care insurance if you’re over 60 years old, maybe even umbrella insurance. …

8. Putting Retirement on the Back Burner

… If you’re trusting Social Security to be your sole source of income, think again. …

9. Not Getting on the Same Financial Page With Your Spouse

If you want to crash and burn financially, not getting on the same page with your spouse about money is a surefire way to do it. …

10. Letting Recurring Expenses Rule Your Budget

Have a high smartphone bill? … How about that cable TV bill – how many channels do you have that you don’t really watch?”

 

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