5 Popular money mistakes I have ever made

Making a budget is one thing, and then following that budget is another thing. And people like me who love to commit stupid money mistakes can never save anything for their future. We are not living in a higher economy era, in which we are allowed to spend generously, in fact the higher prices of gas and electricity bills are good enough to make a person empty handed at month end. And we can’t afford to enjoy luxuries with limited income. So this time I thought to make wiser decisions regarding money but unfortunately I still committed some mistakes when I tried to save money.

Mistake 1: neglected severe medical condition

My first mistake which I will never forget surely is to neglect my dental condition which was getting more severe day by day but actually I decided to save money and not to earn anywhere so it seems so difficult to deliver a paycheck to the doctor. And after that I have suffered from a serious condition and spent more money in recovering.  It’s our biggest mistake, in fact a blunder that we might not spend on necessary items and spend stupidly on un-essentials. And consequently we need to spend more money on the item we had neglected before.

Mistake 2: overlooked the reliable lending industry

Second mistake which actually gave an awesome lesson for the future is when I needed money to fulfill some urgent needs I chose very expensive emergency fund. This lending industry charged me higher interest rates than you ever heard. And after passing out from the situation I came to know the reliable services provided by loans knight which was just charging £25 interest on £100. If I properly searched out about the lending industries then I could save more money by using their services.

Mistake 3: preferred low priced items over valued

This is a common mistake committed by most of the people that they prefer some cheap and low priced items in order to save pennies. We can buy some cheapest items to save cash, but what to do if these items get damage just after 2 days? Will you again spend more money to buy this or just left over the need? Same thing happen with me, I decided to buy low priced hair dryer and left out the dryer which was only 3 pounds costly than it. And at the end the dryer got damaged and I again spent more money to buy the new one.

Mistake 4: have never avoided costly debts

Costly debts are one of the biggest mistakes I have ever made. Auto loans, business loans and credit cards made my life worst because they charge you higher interest rates. I have never applied for easy loan options, like if applied to get short term loans with least interest then I can surely save money. The application process was also free and easy which took seconds to get approved. This is a very beneficial thing to support me in a future.

Mistake 5: never intended to bring positive changes

Making budget is a most suitable thing which can save you from unknown incidents. But I realized its importance after committing those hard mistakes. To save money for future and to cut down un-necessary expenses is a secret to enjoy trouble free financial life. But alas, I have never intended to do the same and preferred the things which I really wanted rather than those which I really needed.