- Getting the big stuff wrong: if you mortgage or rent eats up more than 30% of your gross income and if your vehicle is more than 10% you’re going to have a tough time making ends meet.
- Confusing needs needs and wants: our needs are few, and they include shelter, food, clothes, transportation, and companionship.
- Considering only the monthly payment: whole business thrive on getting you to ignore the total cost of your purchase.
- Failing to track where the money goes: technology makes this easy with personal-finance software such as Money or Quicken.
- Carrying credit card debt: If you can’t pay your bill in full, stop using the credit.
- Living close to the edge: Every set back is a crisis if you have no cushion.
- Squandering what you have: roll over your 401(k) from past job into a IRA.
http://www.daveramsey.com/category/tools/
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