Bank Loan 1616

Top Menu

  • Locate Us

Main Menu

  • Home
  • Accountant
  • Credit
  • Finance
  • Investment
  • Loan
  • Money
  • Mortgage
  • Trading
  • Locate Us

logo

Bank Loan 1616

  • Home
  • Accountant
  • Credit
  • Finance
  • Investment
  • Loan
  • Money
  • Mortgage
  • Trading
Finance
Home›Finance›3 Biggest Money Mistakes People Make in 2022 

3 Biggest Money Mistakes People Make in 2022 

By Jenson Frankie
July 26, 2022
319
0
Share:

As we find ourselves in 2022, many things have changed compared to only a few short years ago. Yet, one thing will never change, and that’s how people use their money. Regardless of which day and age we are in, people will always make poor financial decisions, and find themselves nearing retirement without a penny to their name. 

The great news is that it’s possible to avoid the same fate. By learning from other’s mistakes before you, you can implement the right financial tips into your lifestyle, and have a happy and healthy financial future.

Without further ado, here are some of the biggest money mistakes people make in 2022, and what you can do to avoid them.

Impulsive Online Purchases  

We live in the age of instant gratification, where we can simply add to our cart and receive our purchase as early as an hour after adding our payment details. Unfortunately, many of these instant purchases are ultimately frivolous and weren’t necessary in the big picture. 

Even though buying a few items each week on Amazon or your other favorite online store may seem like a harmless vice, you may be surprised to find that these small impulsive purchases add up to thousands over the course of the year. 

Try to set spending limits for yourself, by creating an online shopping budget. Once you start to keep track of how much you’re spending online each month, you’ll start to understand just how much money you’re blowing on foolish and unnecessary products.

Paying the Minimum Due

While it may seem practical and downright affordable to make big purchases using a credit card or alternative multiple payment agreements, you’re only setting yourself up for more and more debt. If you do make a credit purchase, you’re better off paying as much as you can on each payment rather than the minimum due. 

Otherwise, you’ll find yourself in an endless chasm of minimum payments which wind up costing more in the long run than had you paid for something outright. Remember, credit always comes with a price, and the price is interest.

Buying Everything New

It may seem like a smart purchase decision to buy something new rather than used.  After all, logic points to a new product lasting longer than something that’s already been used.   Yet, this is not always the case.

You can often find products which aren’t just as good, but in some cases even better.  Purchasing a used car, for example, can save you thousands of dollars, and potentially last much longer than a new one depending on the make and model.

This also goes for electronics, and furniture. Before buying something new, always look at used options.  Not only will your wallet thank you for it, but also the earth! 

Previous Article

Reasons Why You Should Use Mobile Banking ...

Next Article

How Does Tax Forgiveness Work?

Share:

Related articles More from author

  • Finance

    Import Financing Options To Select From

    March 21, 2018
    By Jenson Frankie
  • Finance

    Things You Should Know About Personal Loans (Forbrukslån Kalkulator)

    December 15, 2022
    By Jenson Frankie
  • Finance

    Endowment Plans: How They Work, Benefits, And Who Should Get One

    March 26, 2022
    By Jenson Frankie
  • Finance

    What It Really Way To Buy Owner Financing Homes

    March 20, 2018
    By Jenson Frankie
  • Finance

    What Is A Personal Loan? 

    December 27, 2020
    By Jenson Frankie
  • Finance

    Learn About Future Advancements Before You Buy ATM Machines

    April 8, 2020
    By Jenson Frankie

Comments are closed.

  • Credit

    Credit cards – Compare and get

  • Mortgage

    5 Best Strategies For Fixed Interest Rate Mortgage Deals

  • News

    What should you know about Singapore fintechs?

  • Recent

  • Popular

  • Comments

  • MetaTrader 5 Trading Platform Overview

    By Jenson Frankie
    February 3, 2023
  • 3 Tips To Help You Sell Your Home In The Winter

    By Jenson Frankie
    December 23, 2022
  • Things You Should Know About Personal Loans (Forbrukslån Kalkulator)

    By Jenson Frankie
    December 15, 2022
  • What is the first rule of finance?

    By Jenson Frankie
    November 10, 2022
  • What Factors Determine The Value Of Cryptocurrency?

    By Jenson Frankie
    October 11, 2022
  • MetaTrader 5 Trading Platform Overview

    By Jenson Frankie
    February 3, 2023
  • The Very Best Online For Free Personal Finance Tools

    By Jenson Frankie
    March 18, 2018
  • Six Words to explain Business Financing

    By Jenson Frankie
    March 19, 2018
  • What It Really Way To Buy Owner Financing Homes

    By Jenson Frankie
    March 20, 2018
  • Import Financing Options To Select From

    By Jenson Frankie
    March 21, 2018

Recent Posts

  • MetaTrader 5 Trading Platform Overview February 3, 2023
  • 3 Tips To Help You Sell Your Home In The Winter December 23, 2022
  • Things You Should Know About Personal Loans (Forbrukslån Kalkulator) December 15, 2022
  • What is the first rule of finance? November 10, 2022
  • What Factors Determine The Value Of Cryptocurrency? October 11, 2022
  • How Does Tax Forgiveness Work? October 8, 2022
  • 3 Biggest Money Mistakes People Make in 2022  July 26, 2022

Archives

  • February 2023
  • December 2022
  • November 2022
  • October 2022
  • July 2022
  • June 2022
  • May 2022
  • March 2022
  • February 2022
  • January 2022
  • October 2021
  • September 2021
  • August 2021
  • May 2021
  • December 2020
  • August 2020
  • April 2020
  • January 2020
  • October 2019
  • September 2019
  • July 2019
  • June 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
March 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Feb    
  • Finance

    MetaTrader 5 Trading Platform Overview

  • News

    3 Tips To Help You Sell Your Home In The Winter

  • Finance

    Things You Should Know About Personal Loans (Forbrukslån Kalkulator)

  • Finance

    What is the first rule of finance?

  • Finance

    What Factors Determine The Value Of Cryptocurrency?

  • Home
  • Accountant
  • Credit
  • Finance
  • Investment
  • Loan
  • Money
  • Mortgage
  • Trading
© 2021 Bank Loan 1616. All Rights Reserved.