Money mistake no. 7: Spending way too much when dining out
Not all of us are chefs, and it’s good for the soul to eat out from time to time, but if it is a daily activity, tell us, how’s your wallet? Drained? Just imagine how much you spend if you dine out for, let’s say, five times a week… If each meal costs $15 on average, that’s $3,900 a year. Your stomach might be happy, but your wallet most certainly isn’t.
Money mistake no. 8: Confusing needs with wants
Here we go again… Do you really need a new car? New golf equipment or designer clothes? Or it’s just an excuse to brag about something? Money-saving experts agree that confusing ‘needs’ with ‘wants’ is the biggest mistake you could possibly make when it comes to maintaining financial stability and saving money.
Understand what you truly need, like food, housing, and transportation. And, by the way, that luxury sports car doesn’t fall into the needs category.
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