5 Biggest Money Mistakes: You must have heard people saying that money is not everything, it may be partially correct.
The first one is the most silly yet the most common money mistake which most people commit. Over spending money is a very common phenomena.
Another big mistake that many people make is to not invest money at an early age.
Few believe that investment is a late 30’s or mid 40’s thing and 20’s are meant for enjoying & spending money blindly. The other very common point or excuse made by people is that they don’t have enough money or salary which makes it impossible for them to invest.
The EMI and debt culture has taken over the modern world. Earlier debt was taken in the case of cries & emergencies or was used by people & businessmen for investment purposes.
So, debt back then was mainly meant for either productive asset generation (Business or investment) or was crisis situations.
Living in the present is good but ignoring the future isn’t. Many people ignore their retirement planting’s or don’t give it much importance.
Many people make a good living with basic salaries or income. While there are a few with better pay cheques who even struggle for their basic needs.