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Avoid these 10 Mistakes

Things NOT to do!

Avoid these mistakes if you want to lead a richer life!

1) Spend now, pay later

Don’t throw your money away when you’re young, assuming you’ll be richer when you’re older. People in their 40s and 50s actually have the most financial problems. Enjoy your financial freedom when you’re young, but don’t squander it.

2) Fail to save

Too many people claim they can’t afford to save while blowing their cash on gadgets they don’t need, clothes they never wear and nights out they regret in the morning. Set up a regular savings plan by standing order or direct debit, so you don’t notice the money leave your account. Then have fun with what’s left.

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How to be prepared for a financial emergency

If you don’t have enough savings to fall back on, you should take action now to protect yourself from an unexpected bill.

A third of us are living on the financial edge with no savings whatsoever. The three most common unexpected costs were: car repairs, medical bills, and technology that needed urgent repair or replacement. Worryingly, many of us would either have to get into debt or increase our debt if we were hit by unexpected bills. And, unless you can rely on family or friends, getting hold of a decent chunk of cash fast will cost you. So it’s better to be prepared in case of an emergency.

Here are two ways to make sure you have money on hand for a rainy day.

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