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7 Common Mistakes In Managing Money

Inconsiderate Automate Payment – It’s the fifth mistake that you have to think about. Make automate payment such as direct deduct from you salary to saving account really help such big needs.  Try to select the auto debit facility in your salary or income to your savings account, so imperceptibly you will locate more of your savings knoll up quickly. This automation helps ease you to save regularly, without misplaced and without much efforts and hassles.

 

Using Loans Cars or Vehicles – Using one time loan for car it ok, but if you plan to keep changing using loan money for car will occurs into very big waste of money. Cars or vehicle or even electronic devises drop its value like hell. Now you go and buy hand phone for say $500, and try to sell it back to somebody else, if you manage to get 80% of your original price, you are lucky. But most of the time it could be dropping by 50% to 40%. In other words, you experience a loss without your awareness. For that, try to plan the purchase of such cars, and use the car if you can in a long run.

Putting Eggs in the Same Basket – Just imagine, if the basket drop, the whole eggs will break. You don’t able to make nice omelets. Putting in money or investment on the same filed is not recommendable. Bank can be broke, business can also in lose. Imagine if you put the money on certain bank, then bank has experienced liquidation and closed down, surely your household finances also closed down.Managing money is not easy job, but if its fail to exercise and make a really good judgment will make you uncomfortable in everyday life. Money is not everything but everything needs money nowadays.

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