What is the best financial decision you have made?
Here’s a look at what these people described as their seven best decisions – and how you can use that knowledge to make wise choices for yourself.
- Getting a College Education.
- Buying a Home.
- Living Below Your Means.
- Dealing With Debt.
- Having a Traditional Career.
- Taking the Trip of a Lifetime.
What are some financial decisions?
5 Financial Decisions That Paid Off the Most for Me
- Investing in a mutual fund. Investing in a mutual fund was the decision that helped me the most with building wealth.
- Setting a savings goal every month.
- Finding the right credit cards.
- Moving to an area with a lower cost of living.
- Focusing on increasing my income.
What problems do you face in making financial decisions?
Bad Financial Decisions – Poor Financial Management
- Not having a budget.
- Refusing to stick to your budget.
- Not creating an emergency fund.
- Saving too little money.
- Not having a plan for your savings.
- Keeping too much savings in cash.
- Forgetting about insurance.
- Not paying your taxes.
What is the smartest thing to do with your money?
One of the best things you can do for your finances is to pay off all of your debt. To get started, focus on your most expensive debt—the credit cards and loans that charge you the highest interest. Once you have paid off all of these debts, focus on paying off your mortgage. Then pay extra as you can afford it.
What are the biggest financial mistakes?
The 10 Biggest Money Mistakes
- Cutting Spending Instead of Raising Income.
- Not Thinking Like an Owner.
- Overemphasis on Small Wins vs.
- Timing the Market.
- Borrowing Too Much.
- Paying Attention to Other Peoples’ Finances.
- Too Much Lifestyle Creep.
- Investing in Products you Don’t Understand.