Money mistakes to avoid

Some money mistakes to avoid are:

  1. Buying a new car.
  2. Leasing a car.
  3. Not maintaining a car.
  4. Replacing your car before you’ve paid it off.
  5. Giving into impulsive purchases.
  6. Spending without a budget.
  7. Making hasty decisions when purchasing items, especially large ticket items.
  8. Buying something new before selling the old item.
  9. Having too many credit cards.
  10. Seeking high loan-to-value ratio (cars and houses).
  11. Buying too much.
  12. Having a short-term focus instead of a long-term focus. This leads to:
    • Having  insufficient savings.
    • Having the wrong understanding of the cost of credit and power of compound interest.
    • Failing to develop a debt pay-off plan.
Share on facebook
Share on twitter
Share on linkedin

More Posts

Paycheck Protection Program

The Paycheck Protection Program is back. Business can apply for loans to keep their workforce employed. Congress approved more than $280 billion in relief funds for this purpose. Remember that not all lenders will be able to process and issue funds. Smaller community based lenders who work with low income communities and minority owned businesses

Prayer for joy

A Prayer for Joy

Jesus, thank You for becoming Immanuel, “God with us.” It’s because of You that I can


Send Us A Message