6 Money Mistakes That Keep You Broke (And How to Fix Them)
1. Living Paycheck to Paycheck: Break the cycle with automated savings and expense tracking. Start with just 1% of your income.
2. Ignoring High-Interest Debt: Credit card debt compounds quickly. Prioritize paying off cards with rates above 15% first.
3. No Emergency Fund: Unexpected expenses derail financial progress. Build $1,000 emergency fund before investing.
4. Lifestyle Inflation: Spending increases with income. Maintain modest lifestyle while income grows to accelerate wealth building.
5. Procrastinating Investments: Time is your greatest asset. Start investing early, even with small amounts, to leverage compound interest.
6. Lack of Financial Education: Knowledge is power. Continuously learn about personal finance, investing, and money management strategies.