5 Biggest Money Mistakes That Can Make You Poor


BANGALORE: No one in this world is perfect and thus everyone is ought to make mistakes knowingly or unknowingly. Some mistakes don’t harm but some can bring a big havoc in your life. Financial mistake is one among such mistakes that can create big problems in the life if it’s not resolved immediately. People do few common money mistakes while handling their finances. Your money is hard earned so it is advisable to use it wisely.

Let’s have a look at the five biggest financial mistakes that can end up in a big disaster. Try to learn from these mistakes so that you don’t repeat the same mistakes again in future.

1. Borrowing without any need: Banks and financial institutions are not worried about anyone’s financial conditions and are always very eager to lend money. They always hunt for people who can borrow and pay them some interest. Nowadays, you can find many financial borrowing instruments that are launched to trap the customer. Some of the financial products that can make a hole in investors pocket are zero interest Credit cards, interest free car loans, low interest soft loans and free insurance with debit credit. It is found that people usually go to a bank for opening a savings account, and their sales person woos them with an offer of free credit card with the new account. Usually, people accept these offers in excitement but then realize when they are charged double in their bills.

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