INTRODUCTION
While the journey to financial success is paved with good intentions, it's essential to navigate around common pitfalls that can hinder your progress. In this guide, we'll explore these pitfalls—whether it's overspending, neglecting emergency funds, or succumbing to high-interest debt—and provide insights on how to steer clear.
Living Beyond Your Means
One of the most common mistakes people make is spending more than they earn, making it impossible to save. Creating and sticking to a budget can help you avoid this pitfall.
Dipping into Savings
Another common mistake is dipping into savings for non-emergencies. This action defeats the purpose of having a savings account and sets you back on your financial journey. Always consider whether the expense is a "need" or a "want" before you dip into your savings.