We all make them – MONEY MISTAKES. It’s easy to fall into the traps and snares that credit card companies, banks, and other lending sources are so good at enticing consumers with. We are inundated with special offers, cash back, rebates, guarantees, rewards and so on. Buyer Beware! These tactics and offers are designed to keep you in debt. We recently did an episode on The Credit and Finance Show about common money mistakes.

These mistakes include:

• Paying on minimums on your credit cards. This can cost you thousands of additional dollars in interest and fees.
• Buying a brand new car. AAA auto in a study states that concluded that the average new car depreciates $3,392 per year.
• Smoking. This is a costly habit that costs an average of $2000 per year. The health costs are immeasurable.
• Keeping a drafty attic. You can often find low cost services that can help with insulation if you cannot do it yourself.  Beware of spending too much on high dollar energy savings items.  Weigh the costs against the savings.
• Ignoring your student loan. Student loans do not go away. If you are unable to make your payments call the lender and let them know.

Other resources:

12 Obscure Websites That Can Save You Money

Avoid These 7 Cash Back & Credit Card Traps

Many of us make common money mistakes that can not only cost us thousands of dollars, but can also affect our credit rating rating. If you have made financial mistakes, like many of us have, we can help. Call us today and start changing your life from fear and frustration to happiness and relaxation.

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