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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