Big Mistakes With Money

Business - General

By: EmmaRileySutton     03-Nov-2010

Introduction:

Money can be tight, no matter what the economic times may be. With high unemployment and jobs still disappearing, money is even tighter than normal. It is never a good time to make big mistakes with money and these are a few of those mistakes that should be avoided.

Savings

Not contributing to your savings accounts is a big mistake with money. No matter how little your income may be, you must continue to set some of it aside. This holds true with your 401k plans and other forms of savings. If you don't put it away for your future, it is impossible for you to have it then.

Interest

Paying interest is a big mistake with money. Paying high interest rates is even a bigger mistake with money. Some interests rates can't be avoided such as a mortgage, but you should do all you can to get the lowest rate possible. When transferring balances from a high interest credit card to a low rate credit card, check on the fees and penalties that may be involved.

Fees

Paying fees is a big mistake with money. Avoid as many fees as possible. Annual fees on credit cards, ATM fees and other bank fees should be avoided like bed bugs and the Plague. Check all your statements and receipts for fees. Late fees on credit cards, utility payments and the like should also be avoided. These little fees add up quickly.

Extravagance

Extravagance is another big mistake with money. Coffee from Starbucks is an unnecessary extravagance. One thousand cable channels is an extravagance. Paying high prices for expendables such as cleaning supplies and even some clothes that will be rarely worn are also extravagances. Take a hard look at where your money is going and make wise choices as to whether or not you really need those items.

Impulse Buying

Impulse buying is a big mistake with money. Avoid fast food restaurants and the candy in the check out line. These may sound like small amounts, but they add up quickly over time. Avoid the so-called "buys" at the grocery store; two for the price of one isn't a good buy it it isn't something you will use. Many times clothing is an impulsive purchase. Take the time to consider your purchases before you make them.




Final Thoughts

Mistakes with money must be avoided. Once it is out of your hands, it never comes back. It is gone forever. Make sure that when you spend your money it is being spent on something that is necessary and important so you won't be having regrets later.


Give this list a high five!





Comments


Post A Comment

Post this comment to my Facebook Profile

Related Fives





EmmaRileySutton's Most Recent Five's






Need a Top Five List Idea?

select one here...

  • The Top Five Cartoons for Toddlers
  • The Top Five Clothing Lines for Modest Clothes 
  • The Top Five Planets in the Solar System
  • The Top Five Items you Never want to Lose
  • The Top Five Places to Find Cheap Books
  • The Top Five Hair Products Women Must Have
  • The Top Five Funniest Movies Ever
  • The Top Five Paint Colors for a Home
  • The Top Five Movies With a Twist
  • The Top Five Card Games for Four Players
  • The Top Five Most Influential Speeches
  • The Top Five Creative Ways to Announce a Pregna ...
  • The Top Five Funniest Movies For Kids
  • The Top Five Ways to Keep Unwanted Pests Out of ...
  • The Top Five Hair Products
  • The Top Five Universities for MBA
  • The Top Five Foods That Help you Lose Weight
  • The Top Five Motivational Speakers
  • The Top Five Must See Events in Las Vegas
  • The Top Five Most Trusted Cars
  • The Top Five Things to See in Dallas Texas
  • The Top Five Steps on How to Avoid Credit Card ...
  • The Top Five Reasons you Should Play Fantasy Fo ...
  • The Top Five Overseas Bed and Breakfast Stops
  • The Top Five Safest Cities in America
  • The Top Five Walt Disney Movies
  • The Top Five Health Insurance Companies
  • The Top Five Ways to Relieve Stress
  • The Top Five Places to Retire
  • The Top Five Traditional Thanksgiving Dishes
  • The Top Five Reasons Smoking is Bad
  • The Top Five Makeup Tips for Teens
  • The Top Five Ways to Stop Smoking
  • The Top Five Schools for Business Management
  • The Top Five Stresses of Home Ownership
  • The Top Five Steps on How to Make a Website
  • The Top Five Foods to Avoid when Trying to Lose ...
  • The Top Five Free Places for Veterans to Eat 
  • The Top Five Nuts that go in Salad
  • The Top Five Things you Should Not do in an Int ...
  • The Top Five Websites for Photographers
  • The Top Five Pasta Recipes for Kids
  • The Top Five Places to Buy Electronics
  • The Top Five Wedding Websites
  • The Top Five Reason to Rent
  • The Top Five Days During the Year
  • The Top Five Tips on How to Make Money Online
  • The Top Five Most Hated Celebrities
  • The Top Five Places to get French Fries
  • The Top Five Fast Food Restaurants
  • The Top Five Xbox 360 Kinect Games for Exercise
  • The Top Five Jewelry Stores
  • The Top Five Ways to Improve your Health
  • The Top Five Xbox 360 Games
  • The Top Five California Landmarks
  • The Top Five Superheroes
  • The Top Five Quotes to Live by
  • The Top Five Websites for Kids
  • The Top Five Helpful Hints to Get Pregnant 
  • The Top Five Tips for Newlyweds
  • The Top Five Tips for New Businesses
  • The Top Five Steps on How to Potty Train Your P ...
  • The Top Five Candle Scents for Summer Time
  • The Top Five TV Shows of All Time
  • The Top Five Places to Find a Job
  • The Top Five Cities to Live in
  • The Top Five Healthiest Snacks
  • The Top Five Ways to Earn Money Online
  • The Top Five Tips for Healthy Blood Pressure
  • The Top Five Tips for Staying Positive
  • The Top Five Dog Breeds for Kids
  • The Top Five Things to do at Disneyland
  • The Top Five Foods For an Upset Stomach 
  • The Top Five Ways to Update your Home Without S ...
  • The Top Five Foods for Diabetics
  • The Top Five Home Improvement Tips for Selling ...
  • The Top Five Photo Editing Websites
  • The Top Five Vacation Spots
  • The Top Five Songs About Texas
  • The Top Five Ways to Improve your Resume
  • The Top Five Ways to Stay in Shape
  • The Top Five Michael Jackson Songs
  • The Top Five Vitamins for Hair Growth
  • The Top Five Home Air Purifiers
  • The Top Five Websites for Artists
  • The Top Five Causes of Road Rage
  • The Top Five Ways to Invest in Real Estate
  • The Top Five Attractions in the USA
  • The Top Five Places to Find Crazy Video Clips O ...
  • The Top Five Luxury Cars
  • The Top Five Ways to Turn Down a Job Offer
  • The Top Five Gaming Consoles
  • The Top Five Ways to Workout your Upper Body
  • The Top Five HDTV brands
  • The Top Five Places for Discount Furniture Onli ...
  • The Top Five Book Series for Young Adults
  • The Top Five Places for Kids Birthday Parties
  • The Top Five Mistakes Parents Make With Kids
  • The Top Five Most Influential Sports Figures
  • The Top Five Healthiest Choices for Breakfast 
  • The Top Five Hair Removal Options
  • The Top Five Tips for Planting a Garden
  • The Top Five Movies of All Time
  • The Top Five Items you Can’t Live Without
  • The Top Five Steps on How to Save Money
  • The Top Five Ways to Avoid Unemployment
  • The Top Five Ways to Get a Loan
  • The Top Five Ways to Prevent Skin Cancer
  • The Top Five Professions
  • The Top Five Ideas for Anniversary Gifts
  • The Top Five Financial Mistakes People Make
  • The Top Five Songs About Love
  • The Top Five Youtube Videos for 2010 
  • The Top Five Ways to Earn Money as a College St ...
  • The Top Five States to Live In
  • The Top Five New York Hotels
  • The Top Five Ways to Get a Phone Number
  • The Top Five Facts About the Sun
  • The Top Five Skills Needed for a Career in IT
  • The Top Five Computers for College Students
  • The Top Five Funniest Jokes
  • The Top Five Tax Mistakes People Commonly Make
  • The Top Five Reasons to Vote During Elections
  • The Top Five Harry Potter Movies
  • The Top Five Country Singers of All Time
  • The Top Five Places to get a Free Credit Report ...
  • The Top Five Greatest NBA Players of All Time
  • The Top Five Candy Bars With Peanut Butter
  • The Top Five Ways to Find Cheap Flights Online
  • The Top Five Inventions That Changed the World 
  • The Top Five Chicken Recipes
  • The Top Five iPhone Apps
  • The Top Five Restaurants
  • The Top Five Soft Drinks
  • The Top Five Five Music Genres
  • The Top Five Ways to Get a Grant
  • The Top Five Candle Scents for Winter 
  • The Top Five Career Moves for Teachers
  • The Top Five Nascar Drivers
  • The Top Five Ways to Keep your Lawn Green
  • The Top Five Pasta Recipes
  • The Top Five Bedroom Decorating Ideas
  • The Top Five Job Opportunities for People With ...
  • The Top Five Pets you Should Own
  • The Top Five Bealtes Songs beatles songs Writte ...
  • The Top Five Sporting Events
  • The Top Five Advice for New Moms
  • The Top Five Wedding Gowns
  • The Top Five Books for the Kindle
  • The Top Five Places to Get a Student Loan
  • The Top Five People you Would Want to Meet
  • The Top Five Wedding Favors
  • The Top Five Diet Pills
  • The Top Five Signs that You are in Love
  • The Top Five Healthy Recipes
  • The Top Five Sources for Vitamin D
  • The Top Five Teeth Whitening Tips
  • The Top Five Car Seat Safety Tips
  • The Top Five Google Apps
  • The Top Five Carpet Cleaning Tips
  • The Top Five PGA Golfers
  • The Top Five Ways to Keep Track of Spending
  • The Top Five Places to See in the World
  • The Top Five Cell Phones Under 50 Dollars
  • The Top Five Funniest Websites
  • The Top Five Commercials
  • The Top Five Steps on How to Get a Date
  • The Top Five Prom Dresses
  • The Top Five Five Smart Phones
  • The Top Five Video Games
  • The Top Five NFL Football Stadiums With A Dome
  • The Top Five Websites for Discount Vacation Pac ...
  • The Top Five Holidays
  • The Top Five Knock Knock Jokes
  • The Top Five Baby Bags for Moms
  • The Top Five Steps to Internet Security
  • The Top Five Car Maintenance Checklist
  • The Top Five Tips for New Parents
  • The Top Five Funniest People
  • The Top Five Auto Insurance Companies
  • The Top Five Golfing Tips
  • The Top Five Ways to Build Muscle
  • The Top Five Healthy Meals For Under 5 Dollars
  • The Top Five Ways to Save Money
  • The Top Five Business Marketing Tips
  • The Top Five Simple Smart Phones
  • The Top Five Websites for Music
  • The Top Five Quotes From the Movie Elf
  • The Top Five Books to Read This Year
  • The Top Five Movies of 2010
  • The Top Five Rules for a Strong Relationship
  • The Top Five Online Flower Delivery Companies
  • The Top Five Spyware Removal Systems
  • The Top Five Places to Mountain Bike
  • The Top Five Creative Ways to Ask a Girl to Hom ...
  • The Top Five Smart Phones of the Year
  • The Top Five Things to do Before your 60 Years ...
  • The Top Five Places to Live
  • The Top Five Designer Handbags
  • The Top Five Healthiest Fruits
  • The Top Five Outdoor Activities
  • The Top Five 4th of July Party Ideas
  • The Top Five Clues for Crossword Puzzles
  • The Top Five Reasons to Invest in Running Shoes
  • The Top Five Online Social Networks
  • The Top Five Designer Shoe Brands for Women
  • The Top Five Educational Websites for Kids
  • The Top Five Dessert Recipes
  • The Top Five Ways to Cope With Stress
  • The Top Five Online Gaming Sites
  • The Top Five Reasons For Leaving a Job
  • The Top Five Talk Shows on TV
  • The Top Five Unhealthy Foods for Dogs 
  • The Top Five Things I've Learned from Brittany ...
  • The Top Five Steps to Home Security
  • The Top Five Budget Mistakes Most People Make
  • The Top Five Presidents of the United States
  • The Top Five Board Games for Groups
  • The Top Five Shampoos
  • The Top Five Wedding Themes