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  • Janet Cruz Padrón

3 Money Mistakes We’ve All Made and Can Totally Get Past.

Each passing moment is an opportunity to create change in your financial life, even if you've made some unwise money moves. Check out these 3 financial faux-pas that we can all stop making right this second.



Money mistakes happen even amongst those of us who have committed to cultivating good personal financial management habits. Yet, the faster we can know better and do better, the better off our pocketbooks will be in the future. Don't let the guilt from a past money mistake linger and cause you even bigger bank roll problems.


I have made many of these mistakes on my journey to getting healthier with my dinero. But realizing that these mistakes were costing me much more than just my cash but also my time, freedom, and mental sanity was enough to make me want to get it financially-the-fuck-together. Luckily, we can all bounce back from many of our past money mistakes with a little direction and determination.


3 Money Mistakes We’ve All Made and Can Totally Get Past.


No. 01 // Mindlessly Spending.


Not creating or maintaining a spending plan means you’ll end up spending more than you can afford. Do you have a spending problem? I know I do! Spending is something that I continue to check myself on but I found that giving myself an allowance that I can spend guilt-free each month helps tremendously. Consider opening a bank account separate from your bills or setting up a separate bucket in your existing checking account and depositing an allowance for yourself each paycheck or once a month can help set up healthy boundaries in your financial life while giving you the freedom to treat yourself, guilt-free.


No. 02 // Not Watching The Register.


I can't count how many times have I snagged items at the clearance section of a store, been ridiculously ecstatic about my financially-savvy find to only get my hopes crushed when I get to the register and have my item not scan at the clearance price! Sometimes the item I found had been mistakenly placed in the clearance aisle and will ring up at it's full price at the register (which then I must decide if I want to fork over that amount of cash or not.) Other times, the bar codes have simply not been updated in the store's system and requires a manual override by the cashier. I find that staying off my phone or not fidgeting around in my purse too long while my items are being scanned and bagged helps me make sure I will pay the actual price I thought I would be paying when I put the item in my shopping cart in the first place.


No. 03// Not Paying Yourself First.


Did you know that this is one of the biggest distinctions between the rich and the poor ? The rich know that they deserve to keep a portion of the money they make. The poor pay everyone else first. When you receive your paycheck, it is important that you pay yourself first before distributing the rest of your cash to your creditors. Automating that deposit from each paycheck is a great method for ensuring that you don’t spend the cash before you can save it. It is typically advised that you pay yourself 10% of what you made and stash it in an interest-generating account such as a savings or retirement account for the Future You. As your pay increases and your debts are eliminated, raise the percentage of what you are paying yourself for more financial security in the future.


We’ve all done a variation of these mistakes, honey so don't sweat it.


Ready to get your financial act together? Join my FINANCIALISTA online class and let's change your money story once and for all. Click the pic below to learn more about my signature curriculum. See you there!



Stay fabulous, fierce, and financially-savvy mujer!


Beso.



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