Comments on: My 7 Worst Money Mistakes https://eliteedgemoney.com/my-7-worst-money-mistakes/ Money | Minimalism | Mohawks Thu, 16 Nov 2017 15:15:54 +0000 hourly 1 https://wordpress.org/?v=7.0 By: J. Money https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-88711 Tue, 13 Mar 2012 03:58:48 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-88711 Glad you all enjoyed it :)

]]> By: The Money Mail https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-88687 Tue, 13 Mar 2012 01:53:36 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-88687 Laura great post. One mistake which I think I have made initially is not taking the Health Savings Account option. It works out much better for me than a regular Insurance plan. I would also like to point out that some companies offer commuter / parking benefits by way of pre-tax contributions and one should make use of those.

I will share this article with our readers at The Money Mail.

]]> By: Lori https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-88284 Sun, 11 Mar 2012 19:46:55 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-88284 Thank you for being so honest about some of the mistakes you’ve made. I’m relieved to know I’m not the only one who’s made some gaffes.

]]> By: Jim Smith https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-12463 Tue, 04 Jan 2011 06:26:38 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-12463 I’m totally guilty of getting too gready. Too much leverage in my stock portfolio has had a massive impact twice in 10 years now. Lesson – don’t leverage. Debt is dangerous.

]]> By: Divas With Cents https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-12403 Mon, 03 Jan 2011 15:36:32 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-12403 Wow!! Great list!! I think about all the money I blew and all the money I could have saved. Heck I started a Micky D’s when I was 14 years old. I’d probably be a serious thousandaire or at least close to a million by now…IJS. Thanks for breaking this down, its definitely worth a re-post!

]]> By: J. Money https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-11883 Wed, 29 Dec 2010 15:50:22 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-11883 Debt Free is TOTALLY sexy!

]]> By: Laura Adams https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-11873 Wed, 29 Dec 2010 12:45:16 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-11873 Thanks for the comments, everyone! As much as we regret mistakes, or wish we had started sooner with good financial habits, it’s about what we do going forward that matters. As you mentioned, mistakes should be powerful learning opportunities. If you’re stuck making financial blunders over and over, you may need help to break counterproductive habits. I do one-on-one financial coaching in this area and you can learn more here: http://www.smartmovestogrowrich.com. I’ve found that coaching (for finances or for any life skill) offers a unique opportunity to see your situation from a fresh perspective and allows you to learn the fastest ways to make positive changes. Thanks for reading and here’s to making 2011 your best money year ever!!!

]]> By: Krista Van Veen https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-11866 Wed, 29 Dec 2010 03:46:53 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-11866 J. Money and Laura Adams,

Great post! My biggest mistake was getting into debt to the tune of $275k +++ (still hurts to say it!) but I’m so f-ing proud to say that in March, I’ll pay off the last credit card and all that remains will be my car which will either get sold or paid off by the end of 2011.

Debt Free is SEXY!! :-)

]]> By: J. Money https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-11859 Tue, 28 Dec 2010 23:50:06 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-11859 Love it that you went out there and DID it though! Most great business owners I know had to fail a few times… although I’m hoping I don’t start off that way myself ;) But if I did I better learn from it!

]]> By: Charlie F https://eliteedgemoney.com/my-7-worst-money-mistakes/#comment-11850 Tue, 28 Dec 2010 20:06:42 +0000 https://staging.eliteedgemoney.com/?p=4373#comment-11850 I agree, J. Money – this is a great scenario of “worsts.” …maybe I’ll post mine someday when I’ve gotten a Roth started (I’m ineligible for 401k because of being part time, afaik). I’ve got some pretty bad ones… like I have no idea how I ended up with $60k in student loan debt. Well I do, but I don’t.

My first business when down when I did #4, too. I invested too much money into restocking product and when I needed the money to pay the bills during a slow month… well, it wasn’t there. Eventually I caved in the summer of 2008 and had around $3,000 in losses. BUT! this time will be better. Not focusing on products will be a big help – less investment.

And to add onto J.Money regarding Matt – figure out how much you want to contribute to your IRA yearly, divide it by 12, see if that monthly payment is doable, rinse and repeat till you find something that works. Automate the transfer of money from your checking/savings to your Roth monthly, and you’ll get your investment made totally hands-off.

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