5 Money Mistakes

Been a while my frugal friends. Hope you all have been thinking conservatively and saving money along the way.

Today I just want to highlight a few common money mistakes that we all make in this money management game of life.

1) You do not save any money:

• Yes, I know a majority of you all are either in college, graduate school, or just beginning your careers, however, setting aside just a small portion of your salary is a good habit to form. Treat your savings account as your most important bill – it’s for you, and you shouldn’t short change yourself!. (Always Pay yourself first!)

2) You join too many clubs: 

• If you have memberships to Sam's Club, Costco, and other club stores you might as well go ahead and cancel that money wasting membership. Instead consider joining a friend's account as an additional user.  

3) You waste food:

• Track your diet! It is not only good money wise, but health wise as well. There are various apps and websites like 9 Organic meals for $100. 

4) You buy things you do not need:

• If you can’t decide between an Xbox One and a PS4 or whether or not you want those Jay Z/Beyonce concert tickets versus new shoes then you might not need either at the present time. Have fun and treat yourself but not at the expense of your financial health. 

5) You Lack Patience: 

• Yes, I know the struggle is real regarding staying consistent with a budget but make sure you are thinking long term! The goal is not to become rich but to have wealth. Also be sure to treat yourself! Don't hoard every last penny like some weird cat lady. 

As always people: Stay Frugal, Live Gold