Common financial mistakes

EREBwY eE’MllILtYakNeOaRRloISok at some of the most common finanlecitaol miasjtoarkesctohnaotmofitcenhaleraddspheiopp. toof tshuersveivmali.stakes could be the key

Great fortunes are often lost one ceInt tmaatya ntiomtes.eem like a big deal when you buy that expensive handbtbhuaagtteoevrxeprhyeanvlisettilvdeeinitanepmeprlaioadundtcseouropon. rlidneer,

Just E250 per week spent on lunch at work costs you E3 000 papaecyramyreepanart,ysw.mheicnht coorusldevgeortaolweaxrtdras

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Things like cable television, mumsiecmsbeerrvsihciepss, coarn hfoirgche-yeonudtogpyamy nunotcheiansgin. gly but leave you owning juWsthweannmt toonseayveismtoigrhe,tc, roeratyionug wa aleyatnoefartltiefneisntgylyeoucarnsagvoinagsloandg hcuasrhdisohnipin. g yourself from financial csoeUnmstiminaolgsnchpralaescdbei.etccoamrdessotomebwuyhaetsa-

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HEXCESSIVE SPENDING NEVER-ENDING PAYMENTS LIVING ON BORROWED MONEY

you’ll spend more than you earn.

Millions of new cars are sold ecanchafyfoeradr,toalptahyoufogrhthfemw ibnucyaesrhs. However, the inability to pay cash for a new car can also mean an bineaibniglitaybtleo atoffoarffdotrhdetchaer.pAafytemreanllt, aisffnorodt thecsaarm. e as being able to boIfryrowu nmeoendetyotboudyoascoa, rcoansdid/oer buying one that uses less gas and costs less to insure and maintain. bCuayrsinagrme oerxepoefnascivaer ,thaanndyiof uyonuee’rde, you might be burning through money that could have been saved or used to pay-off debt.

Many hToOusPeAhYolCdsHEmCaKy live pay eaansdilaynbuencfomreecsheenckptroopbalyemchceacnk, a Tdhiseasctuemr iuf lyaotuivaererensoutlpt roefpoavredr.sgpeernoduisnpgopsuitsiopne—opoleneinitno wa dhaicnhsgpeernoduisnpgopsuitsiopne—opoleneinitno they need every dime they earn. Tfinhidsyisonuorstethlfeinpowshiteionnaynoeucownaonmt tioc recession hits. If this happens,

BUYING A NEW CAR LIVING PAY CHECK

yoFuin’lal hnacviaelvpelraynfneewrsopwtilolntse.ll you to keep three months’ worth of expenses in an account where yeomupclaonymacecnetssoirt cqhuaicnkgley.sLionssthoef economy could drain your savings and place you in a cycle of debt paying for debt.

Your financial future depends on swpheantdiscgoouingtloesnsrhigohutrnsowa. Ptcehoipnlge TV or scrolling through their social media feeds, but setting aside two ohouut rosfathweeqeukefostriothne.iYrofiunanneceedstios know where you are going. Make spending some time planning your finToansctesera yporuiorrsietylf. away from the dangers of overspending, start tbhyamt aodndituopriqnugitchkelyl,ithtlenemxpoevnesoens tTohimnkoncaitroerfuinllgy btheefobreigadedxpinegnnsews. kdebetpsitno ymoiunrdlistht oaftpbaeyimngenatbsl,eantdo mbeaikneg abplaeytmoeanfftoirsdn’tthtehpeusracmheasaes. Finally, make saving some of what wyoiuthesaprnenadminognthimlyepdreiovreiltoy,pailnognga sound financial plan.

NOT HAVING A PLAN

(Courtesy pic) Getting your budget under control isn’t only about creating a solid plan from which to launch your financial future. Having enough money left at the end of the month to add to savings or pay-off your debts can lift a huge psychological weight.