8 Money Mistakes

Here are some great basic money mistakes. If you are in any way questioning these items please email me so I can explain. I am not a financial planner or even a consultant (I work in IT). However, if you don’t understand why these are bad, I am offering to take the time to explain them and answer questions.

Here is the original link from USAToday (http://www.usatoday.com/money/perfi/basics/2010-04-19-personalfinance19_ST_N.htm?csp=usat.me)

1. Raiding your 401(k)
2. Walking out on a mortgage (Please understand the major financial issue behind this)
3. Ignoring the card balance (Dave Ramsey)
4. Debt-wipeout scams (don’t be a sucker)
5. Co-signing a loan (Stay away)
6. Payday loans
7. Reverse mortgages
8. Trying to stiff Uncle Sam (it is not worth it)

These are some pretty simple mistakes to avoid, some are done because people are under stress to pay things or get out of a bad situation. Just please remember how important it is to understand the financial decisions you make

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