5 Money Mistakes That People Don’t Know They’re Making (Episode 169)

Updated: October 9, 2023

Listen to this episode:

What you’ll hear in this episode:

In this episode, I shared five money mistakes that you might be making. These mistakes are not so obvious and it’s normal for people to overlook or miss these important financial lessons.

Namely, they are:

  1. Relying too much on willpower in learning good money habits.
  2. Not having enough emergency fund.
  3. Lack of planning on loan repayment.
  4. Simply chasing returns when investing.
  5. Investing without a goal.

Hopefully, you’ll be able to correct them after this episode.

Key Takeaways

  • There are already tools and technology that can help you automate your saving habit.
  • Start with having 6 months’ worth of expenses as your emergency fund, then adjust according to your lifestyle.
  • Before applying for a loan, check your budget if you can afford the monthly payments.
  • Your risk tolerance and financial goal should also be considered when choosing an investment.
  • The goal of investing is to help you afford your dreams. Growing your money is not the end goal.

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