What personal finance mistakes should everyone avoid?

[Setho]

As someone who is just starting out in your financial success journey you should always avoid subscriptions that you do not need life premium subscriptions or wasting of water.

 

[Mayox25]

It is not everyone that can be financially knowledgeable, therefore care must be taken to invest wisely.

 

[Chibson]

It is very important for people to always budget whatever they want to buy another to avoid overspending and they also called some unnecessary spending.

 

[Snazzy001]

I think the greatest and commonest mistakes to most intrapreneurs is that they engage themselves in the act of giving loans to the public which can contribute to the breakdown of their businesses easily

 

[HayKay]

The top mistake I'll advice against is not having a budget (or at least an idea). You'll be able to plan better and make right saving choices for investment.
Also do not save for just savings sake. Do so to invest

 

[Kingstone]

The bad mistake I have made was making the wrong investment. All these schemes plan to give out some high percentage but in the end, they are scams.

 

[Setfragil]

The personal finance mistakes that everyone should avoid is spending more than what the business generates as profits. You need to have a scale of preference to help differentiate tour needs from wants.

 

[Psalmseen]

There are lots of finance mistakes that people make, some are common. One of these is selling too much of goods on credit. Too much of credit sales will eventually less to bad debts and bad debts is harmful to finance

 

[Kelly5]

Financial mistakes I feel everybody should be avoiding is not doing or carrying out your due diligence before commiting your funds I finances into a particular investment you're Into

 

[Buba]

Write your reply...there some people that mistake in personal finance because some financial have risk but somebody don't mind with that risk the only thing given him.

 

[Alisco]

Personal finance mistake one should avoid are going into budget that is beyond your financial capacity and also over spending of your gain as a business man .

 

[Yusuf]

One of them is never to invest in a business without getting adequate knowledge on how the business works. If you don't know how a business works get a mentor to put you through

 

[Alexandoy]

One of them is never to invest in a business without getting adequate knowledge on how the business works. If you don't know how a business works get a mentor to put you through

Some of those who were scammed were the naive investors who just put their money upon the trust to other people who make the recommendation. Later on they will realize that they were duped of their money. That happens because the investor did not do a complete research on the investment scheme.

 

[Setfragil]

The financial mistakes we should avoid in business is spending more on things that does not add values to the business than the income the business generates.

 

[tyrim88]

- spending too much, you must only spend on the things that matter
- investing, try as much as possible to save your funds or invest it so you put your money to work.
- save for your retirement

This is where the act of discipline comes to play here.For you to properlly manage finance you need to do a scale of things that are of topmost priority and address the needs first of all,with that you will be able to solve the most importan things on your list.

 

[jeff87]

Personal financial mistakes someone need to avoid is to be very careful where he or she investing their money especially online, that is why I prefer offline business because if you are doing offline business you should be able to monitor it in daily basis.

You are correct. There are online business and investment online that are scammers. That is the advantage of offline business against online investment.

 

[nimzy]

Well to.me sometime I can say saving is really bad even though it has it advantages buy to some extent it's not advisable to save without investing with investment I believe with time you will.be able to generate income rather than savings that value will be loss.

 

[Ruth]

There are a lot of mistakes people make financially I their business. First is accumulating bad debts without proper record, while I would advise against give out products on debts sometimes it's inescapable, but we should try to limit the number so you can track your money back.

 

[Kunkun]

Counting ones losses for one, when we lose money on a business or investment, most count their losses and want to gain their money lost back in time which in turn leads to more loss

 

[Ezekiel]

Saving is one if the financial mistakes we involve in, saving doesn't give you any additional money rather with time it will reduce it value and amount,one should save some percentage of his profit and reinvest part,it is wrong to save all money