Mint Millions

Six 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. Excessive Spending Great fortunes are often lost one dollar at time. It may not seem like a big deal when you pick up that double-mocha cappuccino, stop for a pack of cigarettes, have dinner out or order that pay-per-view movie, but every little item adds up. Never-Ending Payments Ask yourself if you really need items that keep you paying for every month, year after year. Things like cable television, subscription radio and video games, cell phones and pagers can force you to pay unceasingly but leave you owning nothing. Living on Borrowed Money Using credit cards to buy essentials has become somewhat normal. But even if an ever-increasing number of consumers are willing to pay double-digit interest rates on gasoline, groceries and a host of other items that are...

1. First get a job that gives you a paycheck. This is one thing that many people overlook. Getting a job teaches you so much about finances, discipline, and consistency. You will not get rich from a job with a steady paycheck, but it’ll teach you what you don’t want. 2. Do not let your expenses expand to your income. Save at least 50% from each paycheck. Most people call BS on this. They complain that it is impossible to save 50%. Well, how were you living before you got your job? 3. Read as much as you can about financial education. Reading about financial information is boring. Most people don’t do it. Most people aren’t very good with their money. Figure out if personal finance is important to you; if it is, you will not be bored. 4. Invest your saved money learned from your reading. Once you understand certain areas of the market, you may know more than even professional investors. Most people don’t understand that they are an expert at something. Whether it’s fashi...