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Four Common Money Mistakes Smart People Don’t Make
Avoid these mistakes to save yourself from financial struggle
Fifty-six percent of people admit they have made a financial mistake at least once in their lifetime.
The average American has $52,940 in debt, for instance, from car loans to credit card debt, student loans, medical debt, and mortgages.
Debt is a major source of financial stress.
People who experience financial stress like debt are 20 times more likely to attempt suicide than those who do not. It’s also a reason for divorce.
It makes me wonder why most people make unnecessary financial mistakes that impact their lives.
Money is critical to our success and well-being. As a result, smart people try to avoid mistakes that could put their financial health at risk.
They Don’t Overestimate Present Enjoyment
One of the biggest money mistakes most people make is assuming that the euphoria of splurging on nice stuff and having fun today will last forever.
It comes as no surprise that spending so much on enjoyment like lavish vacations, dining out, and shopping ranks as the most common money mistake, according to a survey.
