11 June 2014

Big Money Saving Mistakes

Does it seem like no matter how hard you try, saving money just seems to evade you? Chances are if you're struggling to save money you're making some of the very same mistakes millions of others are making (I've made them myself too.)

Stop making these mistakes and make saving easier!

Mistake No. 1: Buying Based on Emotions
The truth is that all of us make our buying decisions based on emotions. However, this type of behavior is what caused us to have a house full of toys and shoes that just don’t add to quality of life. Instead of shopping based on emotion, shop based on need. And always ask yourself, “How happy will this purchase make me ten years from now?”

Mistake No. 2: Not Having a Plan
This is the second most common mistake. You want to save money but you probably have no idea how much you spend each month nor how much you can afford to save. Track your expenses and your income and create a plan!

Mistake No. 3: Saving Big Without a Real Goal
Interestingly enough, there are people who save and save and save to the expense of the rest of their life. While saving money is a great idea of course, it’s important to have balance. It is possible to save money and live a comfortable life at the same time.

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