We’re all human. Most of us make mistakes with our money at one time or another. But here are four common mistakes that can have far-reaching effects on your ability to have the financial peace of mind you’ve dreamed of.
Having no money set aside for emergencies. If you have a philosophy of spend today, save tomorrow, you may be very unhappy with your choices in the event of a major setback, such as a large medical bill or costly car repair. Everyone should have at least three to six months of living expenses in a savings account for the unexpected, including a job layoff.
Spending too much. It’s so easy to spend and so hard to save! Sometimes it’s hard for middle-income families to remember that it’s not what you earn, it’s what you save that determines your level of financial security. Increasing your income over time won’t provide your family with financial security unless you are able to effectively manage your spending and create and stick to a monthly budget. There’s no shortage of examples of celebrities and sports stars who made millions but ended up broke because of lavish spending.
Loading up on consumer debt. American families are loaded down with a wide variety of debt. The average household, for example, carries credit card balances of nearly $7,000, owes nearly $28,000 in car loans, has nearly $47,000 in student loans and has a remaining balance of nearly $190,000 on their mortgage. Don’t let debt dictate your future. I can help you by creating a plan to eliminate all of your consumer debt as quickly and efficiently as possible.
Not getting the financial help you need. Take the first step toward gaining control of your finances and achieving financial peace of mind by calling me at (503) 679-3490. I can help you organize your entire financial life and help you get out of debt in the shortest period of time.
I help middle-income families and adults budget better, bank smarter, manage debt better and build strong credit. My goal is your financial peace of mind. What are you waiting for? Let’s get started today!