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Stretch Your Dollar: 5 common money missteps

Stretch Your Dollar

Even the best of us are guilty of making financial mistakes that can really cost you down the road. We are stretching your dollar with a look at five common money missteps.

These come from in Money Talks News.

  1. Carrying a credit card balance when you have money in the bank. Your credit card interest rate is probably at least 10% to 20%, right? It makes no sense to leave money languishing in savings when it could be helping you avoid spending on credit card interest.
  2. Going into debt for purchases that lose value, like expensive clothing
  3. Spending a lot of money on something you barely use, like the top of the line power tools for a random weekend project or one-use wedding or party outfits.
  4. Forgetting about trial subscriptions, returns and other small opportunities to get your money back or keep it from being spent on something you don’t want
  5. Missing out on the 401k match from your employer. Too many people leave free money on the table.

An extra money misstep tip: living without a budget. Those lunches out and daily coffees really add up and can be thousands of dollars by the end of the year.

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