Comments on: 6 Financial Mistakes to Avoid at All Costs

By: Lillie

Lillie — Wed, 17 Feb 2010 14:10:34 +0000

You make some valid points; however, I think number 3 stands out more for me: “Losing Financial Perspective.” Sometimes it’s easy to get sidetracked especially if an unexpected financial situation develops. That’s why it’s important to write a vision and set short-term, intermediate and long-term goals. In addition to that, you always have to have in place a Plan B for the “what if”? rather than just saying, “Whatever comes up, I’ll just roll with the punches.” It’s called “Financial Accountability.”

By: Ms. Frugalicious

Ms. Frugalicious — Sun, 20 Sep 2009 01:04:10 +0000

#1 seems so obvious, doesn’t it? But as you point out, spending more than you earn is a quick way to pile up debt. What I find interesting is that so many people talk about spending less, but not too many people talk about earning more. Back in June, I got laid off from a job that paid fairly well. I just started a new job, and I don’t make as much. Sure, I’ve tried to cut back, but I am also coming up with ways to boost my income with side jobs and freelance work. A friend of mine sent me an advance copy of Loral Langemeier’s new book, “Put More Cash in Your Pocket,” and it was very inspirational. It comes out next month, and I think it’s a must-read for anyone who could use extra money! You can pre-order it at liveoutloud.com/newcashbook/.

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July ‘09 Top College Post Winners — Fri, 31 Jul 2009 18:45:42 +0000

[...] “6 Financial Mistakes to Avoid at All Costs” – While all these tips are useful, the one that caught my attention the most explained the need to avoid “relaxing on the big stuff while tightening on the small stuff”. Too many people feel financially adept when they cut their $4 morning coffee while driving a brand-new $10,000 car! It’s a good start, but they have a long way to go. [...]

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[...] simply to avoid living on the ‘what-ifs’ toys with the laws of probability. (One of my 6 mistakes to avoid, after all, was expecting a smooth ride through [...]

By: Wojciech Kulicki

Wojciech Kulicki — Tue, 14 Jul 2009 18:18:46 +0000

You’re absolutely right – it works against you on both ends of the “scale” spectrum. I think the key is understanding how youspend.

For example, some people don’t spend on the little things but only blow on the big stuff, so that’s what they have to worry about. I’m in this category. Some people only spend on <$5 and rarely on the big things, like yourself. Lastly, you can be guilty in both categories (ouch!).

Understanding where you belong can help you in watching those specific areas and guarding against financial leaks.

Thanks for stopping by, Meg!

By: Meg from FruWiki

Meg from FruWiki — Tue, 14 Jul 2009 17:39:47 +0000

7. Relaxing on the Small Stuff While Tightening on the Big Stuff

My husband and I — and I suspect many, MANY others — were very bad at that. And we wondered where all the money went since we didn’t have a big t.v. or a car payment or expensive clothing. Even our house payment is well below 1/3rd of our income. But a book here, a candy bar there, a pair of shoes even bought on clearance… those things really add up. It’s really easy to justify things when they’re “Only $1″ or “Wow, 90% off!”, but spending is spending.

By: Personal Finance Buzz

Personal Finance Buzz — Mon, 13 Jul 2009 17:42:07 +0000

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