Avoid these common mistakes if you want to be
financially well off!
1. Paying unnecessary bank
Your bank may be
charging you for having
a checking account,
overdraft protection, or
bill pay without you
even knowing it.
If they are, go to a new
bank or consider a
credit union, which has
lower interest rates on
loans and charges less
2. Not having a budget.
If you don’t have a monthly or weekly budget, you
need to set one up. Your budget will help you
achieve all your financial goals, and it will keep you
from getting into serious debt.
3. Having a credit card
If you never pay off your credit card balance in full
each month, you’re going to spend hundreds of
dollars on interest payments. Do yourself a favor
and pay off the full balance, not just the minimum.
4. Not updating insurance.
Whether it’s life, health,
auto, or home
insurance, you should
consistently check your
policies and talk with an
agent to make sure
you’re getting the best
If your policies are
outdated, you could be
paying more than
5. Not saving for
Not saving for retirement while you’re young and
employed is one of the worst things you can do.
Take advantage of the 401(k) your work offers or set
up a Roth IRA and start contributing to it now.
6. Not doing estate
Setting up a will, health care directives, power of
attorney, etc. can be a pain, but it’s necessary if you
want your wishes to be granted when you pass
If you never get around to it, no one will know who
you wanted your children or assets to go to.
7. Not having an emergency
It’s critical to have cash set aside for emergencies
because unexpected, costly accidents can and will
happen. If you don’t have money for that $500 car
repair, it will go on your credit card as debt.
8. Not understanding student
Many people take out huge
student loans without
knowing what their monthly
payments will be when they
graduate, which can be very
For example, a $100,000
loan with 6.8 percent interest
will cost $1,100 a month if it’s
going to be paid off in ten
years. That’s right—ten
Hire a Bankruptcy
If you’ve already made several of these mistakes
and are in debt that you simply cannot pay back,
contact Craig Swapp & Associates today.
As a bankruptcy attorney, we know how to help you
through the bankruptcy process so that you don’t
have to experience the confusion and anxiety that
so many people filing for bankruptcy do.
Contact us today for a free consultation by calling
(800) 404-9000 or by visiting craigswapp.com.