Member-only story
6 Common Money Mistakes to Avoid
While we may all have a basic idea of the financial goals that we would like to achieve, it may not always be easy to achieve based on common mistakes that we must learn to avoid to reach those goals.
Identifying the key mistakes that you are making is one step to making healthier financial habits that benefit your financial wellbeing in the future. Leaning is a gradual process and it’s not always easy, however, taking small steps can help us reach financial success.
Setting too many goals
Most times people set financial goals that we would like to reach by the end of the year or by a certain time, however setting too many goals for oneself can lead us to feel too overwhelmed and ultimately avoiding making those goals.
Brain Walsch, manager of the financial planning team at SoFi stated, “Focusing on too many things at the same time is probably the most common mistakes that we see because it leads to people getting overwhelmed by their personal finances.”
Consider just setting one goal that you would like to achieve in a shorter time limit. Set a realistic goal that you know you can work towards completing so that you don’t lose motivation along the way.