Financial Smarts & Financial Fails
Believe it or not, I could be much worse off if I hadn’t done a few things right over the years. That 100k debt could easily be double!
- Went to community college for 2 years
- Worked while pursuing my degree
- Bought a house with a rental suite
- Drive a dependable, low cost car (lobe my Prius!)
- Took a job that offered a pension
- Take advantage of my flexible spending account (FSA)
- Pay more than the minimum on my credit cards each month
- Have a good credit score
- Have a small emergency fund
See? I did good (sometimes)!
I’m just beginning to focus on paying my debts, but looking back it’s easy to see where I went wrong.
- Have a mortgage with PMI (ouch!)
- Opened too many credit card accounts which increased spend temptation
- Didn’t use the money I earned while going to school to pay down my student debts
- Got comfortable with having debt
- Eat out (way, way) too much
- Don’t have a weekly meal plan
- Find it difficult to talk to my husband about money
- Let the debt hold me back
I want to know: What are some of your biggest financial Smarts and financial fails?