Don’t make these money and savings mistakes!When you’re making decisions for your financial future, it’s easy to base decisions off of fear. Finances’ are a top stress for many Americans and is something that is thought about daily. With fears such as retirement and college funds, it’s easy to make the following mistakes.
- Not trusting something that is a calculated safe move
If you’re saving up for a bigger house, it can be daunting to finally invest that hard earned cash. But if a qualified loan officer tells you that something is feasible, you should put your trust in the numbers.
- Cash isn’t the best route
Saving cash in a jar for a fun night out is great, but you don’t want all your assets to only be in cash. Put your money into a CD or a money market account to start earning compound interest. You’re missing out on free money by letting it sit in a jar on your counter. The best way to gain knowledge on this is by talking to a professional or taking the hands on approach by reading an investment book.
- Face the facts
Everyone makes mistakes. Most have had a financial slip-up, like forgetting to pay a bill or treating yourself to a big shopping spree. You learn from that fear, and you know that you can lose a lot if you’re not careful. But don’t let that sway all your confidence—don’t take gambles, but take risks with calculated confidence. Always be learning, and looking for the next opportunity.If you’re still confused, that’s okay! It’s always good to speak to someone knowledgeable about the subject, so it’s best to start speaking with a qualified mortgage professional. For more information on purchasing a home, please feel free to contact a member of the Housing Buzz team!
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