Common Financial Mistakes which you can avoid!

Here we'll take a look at some of the most common financial mistakes that often lead people to major economic hardship. Even if you're already facing financial difficulties, steering clear of these mistakes could be the key to survival.

Mistake No. 1: Excessive/Frivolous Spending
Mistake No. 2: Never-Ending Payments
Mistake No. 3: Living on Borrowed Money
Mistake No. 4: Buying a New Car
Mistake No. 5: Buying Too Much House
Mistake No. 6: Treating Your Home Equity like a Piggy Bank
Mistake No. 7: Living Paycheck to Paycheck

To steer you away from the dangers of overspending, start by monitoring the little expenses that add up quickly, then move on to monitoring the big expenses. Think carefully before adding new debts to your list of payments, and keep in mind that being able to make a payment isn't the same as being able to afford the purchase.