When it comes to money, people are always making dumb decisions. From spending what’s not theres, to buying a house they can’t afford, or leasing that car that doesn’t fit their budget. Time after time we make mistakes with our money and fail to recognize the warning signals that could have prevented us from making these costly errors. The key to avoiding these possible life blunders is to always stay informed and educate yourself before making a decision. This will greatly lower your chances of making a poor, dumb decision that costs you for years to come.
Brett Arends is a writer for the Wall Street Journal. This weekend he wrote a great, short, small column offering five simple pieces of good advice. Below are Brett’s Five Really Dumb Money Moves You’ve Got to Avoid:
1. Reaching for yield
2. Going into the poor house to send Junior to a country-club college
3. Owning stock in your employer
4. Taking Social Security too early
5. Buying long-term bonds
For those of you interested in reading more, follow the link below as the full article is worth your time.