- Buying a new car every 5 years and having a car payment the rest of your days.
- Or even worse, leasing a car. Do the math.
- Buying more house than you can afford and re-mortgaging it over and over.
- Having more credit cards, that you don't payoff, than sense.
- $853.6 billion in credit card debt. Average credit card debt: $15,263
- $994.0 billion in student loans. Average student loan debt: $31,646.
- Saving nothing or minimal amount for retirement and counting on the government (who handles money like a drunken sailor) to provide for you.
- #1 reason for divorce is money issues/fights
- Getting all your financial information from the mainstream press.
- Having more month than money...spending more each month than you make
- Paying loads and high management fees on your mutual funds.
- Not contributing enough to your 401k to get the company match.
- Not maxing out your IRA, or contributing to it at all.
- Buying new when used will do, buying used when borrowing will do, borrowing when doing without will do.
- Not thinking outside the box.
- Enabling your spouse, family, friends in their money mistakes instead of showing tough love.
- Taking out student loans for a college degree of questionable value, when other options are out there.
- Living paycheck to paycheck.
- Never making extra principal payments on your mortgage.
- Buying whole life insurance not term.
- Not having a budget.
- Borrowing from your 401k for "emergencies".
- Consolidating credit card debt and NOT cutting up the cards
Monday, September 16, 2013
Don't be Normal
Normal in America is: