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3 Money Mistakes to Avoid

By
Real Estate Broker/Owner with HOMEFRONT Realty WA State Licence #23384

3 Money Mistakes to Avoid

 

During times like these, every mistake you make with your money is even more costly. We’d like to share 3 important money mistakes to avoid during this financial crisis .

1 – Don’t Keep Cash at Home!

Many bank failures has people wondering if their money is safe in a bank. One of the worst things you can possibly do is to start stashing your cash under your mattress (or in a dresser drawer).

If you have your money in an FDIC-insured institution, your deposits are now covered up to $250,000 per individual. Your money is safer there than in your home, where it’s at risk of being stolen, or being lost in a disaster (like a fire).

2 – Don’t Skip Payments!

This may sound like an obvious tip, but don’t stop making payments. If you’re in danger of falling behind or you can’t make a payment, call your creditor to let them know you’ll be late. Don’t ignore the problem… it will only ruin your credit and make the problem worse.

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Jo SossAuthor:Jo Soss

Jo Soss is the designated Broker and the owner of Homefront Realty in Bremerton Washington. Selling real estate in the greater Puget Sound area since 1994 she has vast knowledge in all aspects of a real estate transaction. Using today's technology with her signature personal service allows her to achieve complete customer satisfaction.

Comments (2)

Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Evening Jo

Thanks for the post and financial information. Have a great day

Apr 21, 2012 09:18 AM
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

it's okay here, I don't keep the cash at home as it is on its way to make payments!

Apr 21, 2012 12:36 PM