Money Matters: Are You Making These Four Money Mistakes?

Finances are often at the core of what we are able to do or achieve as individuals. Finances enable us to form our lives in the way that we have envisioned it to be. The trouble starts when you do financial decisions that are actually mistakes in the making. The trouble is, how are you to know what you are making is a mistake?

Well, if you ask us, we use the experiences of others and our previous experiences to determine if something is an established mistake. If you presently do not have any previous experiences to use as a learning point, feel free to learn from our discussion of four particular money mistakes:

Not Having Savings

Savings is a word we are very sure that you have come across before. Savings is the money that is set aside and usually should remain untouched. This is separate from your retirement fund. Savings is the pool of money that you can use in case of emergencies.

A lot of people keep putting off building their savings until it’s too late. Savings will help you when there are any sudden and large expenses that you need to square away.

Not Budgeting

A budget is a carefully constructed money plan so that you will be able to keep track of your finances. A budget is a map of what you receive, what you should spend on, and what it actually goes to. A lot of people tend to neglect building a budget for various reasons.

Budgeting will help you understand your financial capability and what you can actually do with your finances.

 Prioritizing Wants over Needs

Wants and needs are very different. Needs are the things that you require absolutely like utilities and shelter. The trouble is that everyday we see things that we want. The latest phone, the newest trend, a new travel location—it never ends.

The trouble with prioritizing wants over needs is that you’ll only feel good for a while. Eventually, you’ll find yourself in a heap of trouble because you don’t have food to eat or a place to stay.

Neglecting Your Credit Score

Credit is always a part of everything. It determines the type of loans you can get and the sort of payment terms you can be privy to. One’s credit score is determined by how consistently you pay your dues on time, paying back loans, and many other things.

Always Remember

Finances are there to empower you not hold you back. However, the reality of life is that your financial situation can be the reason why you are not able to do certain things or be subjected to a lot of crippling limitations. This is why it is super important to be financially literate. Look around for any financial literacy classes or seminars around you and get a better handle on your money management ASAP.

While you’re at it, check the four money mistakes that we’ve listed above. If you’re guilty of making them, what do you plan to do about it?

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Start Your Year Right: How to Use the Color of the Year in Your Home

Colors are pretty powerful. If you use it right, you can send a message, assert a mood, or even affect your state of mind. This is why it is actually worth it to learn how to apply colors tastefully in your life. Every year there seems to be one color in particular that is called ‘Color of the Year’.

In light of this, we wanted to take the time and give some useful suggestions on how you can use the “color of the year” and brighten up some spots in your life. It just so happens that this year’s color is Ultra Violet. This isn’t exactly a color that is normally used as it is bright and in certain situations it can be an eyesore. However, if you do manage to use it tastefully, it is a great color to have in your home. Here are a few suggestions for you:

Faux Rugs

If you are in a ethical mindset, you can make use of faux rugs in the shade of ultra violet to spruce up any drab floors or even your couch. You can use it to add accents to your seating options.

Throw Pillows

This is by far the more popular usage of the color. Throw pillows are versatile and can be used in any part of the home that has seating. Ultra violet throw pillows add a big statement color to pull together a room’s focal point.

Always Remember

The rule of “less is more” does not always translate. When it comes to colors as bold and rich as Ultra Violet, it all depends on how you use it. Always consider the lighting, the placement, and the object. Think three months ahead if you are planning on making any big changes like wall paint. Is this still something that you would like your wall to be three months from now? If not, best to not make any big changes.

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