15 money mistakes you should avoid at all costs

There are so many common money & financial mistakes that you should avoid if you want to grow. Some of them are, not having a financial plan, overspending, not watching your credit score, thinking that you can afford it all, and so much more. This video is full of details on how to solve these issues and become a master at managing your money, regardless of where you are in life. Enjoy!

#finance #personalfinance #moneymistakes


Timestamp
(00:07) No financial plan
(00:57) counting pennies to make a million
(01:46) not having money goals
(03:16) Not watching your credit score
(03:46) not saving
(04:27) impulse shopping
(05:27) Thinking you can afford it all
(06:03) You don’t diversify your income
(06:55) You spend more than you make
(08:08) Wasting your free time
(08:46) Not negotiating
(09:12) being too nice with people
(09:36) not having an emergency fund
(09:37) Not optimizing your taxes
(09:54) not switching expensive services

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DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.
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[miriamstrauss]

Mistake number 10 is so *on point* !! I remember how much free time I used to waste watching TV, movies, youtube and I thought to myself, "with all this time I spend on these frivolous things, I can probably start a youtube channel and *make* content to earn money instead of simply watching content of others and wasting my time." Now, 3 months later I have close to 1K subscribers!! Definitely glad I decided not to keep wasting my time :)

[actuallybusiness]

*Success isn't lucky, it's hard work and dedication!!*

[flyerfocus]

Speaking as someone who started as a runaway at 13 with nothing and who is now a self-made multimillionaire (after putting two daughters through college without loans), #6, 11, 13, 14, 15, are good advice. Everything else is noisy, at best, damaging to your wallet at worst. There are many contradictions in this video as well. Good luck to you all!

[WealthbuilderzTV]

This is so true. This list is on point. Love it.

[cynthia]

Money and personal finances should be taught starting in grade school.

[SherifaNakalema]

Those were all great points! Thank you!

[sudiptapatel]

Mistake no 6, 8 & 10 are my poison.

[dellastarzproduction]

This is so motivational. Love it👍🔥💯💯💪❤

[deliaocampo]

Accumulating clothes not buying anymore I spent my money now on the basics saving more financially stable🇸🇽🇺🇸

[gabrielancelotti]

The crypto space is a very volatile one indeed. Which is why its not advisable for inexperienced individuals to dive into the market independently, but seek the assistance of experts who are well experienced and understands the nature and structure of the market with the everyday trend, and know how best to trade this uncertainties and make good returns eventually. Where the application of the right strategies and risk management to ensure this.

[PaperRaines]

Okay I was willing to overlook the bad math in this video ($2, 083 a week is not the goal for $100k annually), but the advice on #11 was flagrantly reckless. You absolutely should *NOT* negotiate any inflated salary above what's being offered to you in a new job

I just came out of the job market a couple of months ago, I know for a fact that if you sail over what an employer is advertising or offering you will be passed over. Budgets are not fictional, and neither is your value add to a company

You need to assess your skills, education, experience, and then present that to your prospective employer. What you can command on the marketplace in salary is not a made up number, there is the job you're applying for, or being offered, and where you slot in in adjacent companies, roles, experience levels, etc., _that_ along with a little tug and pull brings up your offer

Short version is if you're being offered $15/hr and you ask for $25, you're not getting $20. That role likely doesn't have a budget for $20/hr for a new hire, and the interviewer will either determine your motivations are purely money, you overvalued yourself, or maybe you're aiming too low and it'd be a waste of time to hire and invest in you

[gagealberta]

Why do you need 10k to invest... You can invest with at least 5 bucks, that way you can dip your toes in the water. Not going blind with 10k and losing part of it, that will discourage new investors from ever investing again.

[PossibleOffside]

I blindly spent since I didn't had a financial am wise now😂

[Gary]

example : for a new electronic divice I have is out of order and unfixable I buy a new one

[rayhanmorales]

Good stuff. This is all recycled material, but it's useful every time

[shamimmujibe]

Hey YouTubers! I'm a shopping fanatic. I'm wasting money unnecessarily. Any advice that I shall follow to stop myself?

[spencervance]

Mistake 11...i did ask my family for help. They said no. Do it yourself.

[mamaurax]

Mistake number one: not having and not making money.

[raedm]

I believe the first mistake is not working on improving yourself everyday for the rest of your life.

[HolyFamilyWeek]

Recession is a myth. But
be careful to spend your money.