Six common money mistakes and how to avoid them

I was recently reminded of this insightful article I contributed to back in 2021 for The New Daily. Though time has passed, the principles of sound budgeting remain as relevant as ever.

Head to this link a read.

Here's a quick recap of the key takeaways:

  • Track your spending. Knowledge is power!
  • Include 'play money.' Budgeting shouldn't feel like deprivation
  • Don't underestimate expenses. Be realistic to avoid setbacks.
  • Have an emergency fund. Prepare for the unexpected.
  • Don't be lazy with deals. Shop around and save!
  • Share your goals. Enlist support from friends and family.

Remember, budgeting is about finding a healthy balance, not sacrificing all the fun!

#financialplanning #budgetingtips #moneymanagement #financialliteracy #successmindset #budgeting #personalfinance #moneytips #financialfreedom #savingsgoals

Nicola Beswick is a financial adviser, mentor and confidante based in Melbourne, Australia who empowers people to create a financially certain future free from stress and uncertainty.

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General advice disclaimer: This article has been prepared by FMD Financial and is intended to be a general overview of the subject matter. The information in this article is not intended to be comprehensive and should not be relied upon as such. In preparing this article we have not taken into account the individual objectives or circumstances of any person. Legal, financial and other professional advice should be sought prior to applying the information contained on this article to particular circumstances. FMD Financial, its officers and employees will not be liable for any loss or damage sustained by any person acting in reliance on the information contained on this article. FMD Group Pty Ltd ABN 99 103 115 591 trading as FMD Financial is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977. The FMD advisers are Authorised Representatives of FMD Advisory Services Pty Ltd AFSL 232977.