How to Avoid 3 Money Mistakes
589 views · Published 10 February 2016 · 2:52 · Indexed 4 November 2026
Channel: Utah State University Extension · 2016 · Education
Learn 3 main money mistakes to avoid, presented by Amanda Christensen, Utah State University Extension, Morgan County. USU Resources: http://www.finance.usu.edu .......... I don’t have any get-rich-quick schemes today, but I do have 3 tips of things to avoid, habits to curb, or things to be aware of on that path to wealth. Hello, hello, hello, (boing), welcome back. My name is Amanda Christensen; I work for Utah State University Extension. The 1st tip is to avoid consumer credit card debt. Credit cards can be a great tool when they’re used wisely. Being credit card savvy is definitely a skill. But watching out for the habits we develop when we charge things that we can’t afford to pay off; we start to only pay the minimum balance every month on our cards and eventually we find ourselves in a pile of consumer credit card debt. Tip number 2 is to curb the mindset that spending money brings happiness or that buying things makes you happy. That temporary feeling of gratification that comes is great and okay in moderation. When that becomes a problem is when we consistently gratify ourselves by spending needlessly and wind up in, in a pile of consumer credit card debt. So, if this is a habit that you’re trying to curb, I suggest finding a new hobby: learning to cook, or exercising, reading, whatever it is, writing can be a great outlet. Find something to replace that urge to shop and to spend frivolously. The 3rd tip is to curb the mindset that thrifty living somehow means deprivation of all things that would possibly make me happy. That is not the case. I think anyone who has mastered thrifty living would tell you that thrifty living does not equal deprivation. It means maybe moderation and not always gratifying the wants that we sometimes have, but it certainly means living within our means, being able to pay the bills that we incur each month and still enjoying things that bring us happiness. So, the thought that thrifty living or being frugal somehow means deprivation of all things isn’t true and certainly doesn’t need to be true. It’s a thought that we should try to curb. That’s all I have today. Be sure to check the description box below for fabulous resources provided by Utah State University Extension that may help you financially. Also leave a comment and let me know some of the things: the habits, or the tips and tricks that you have that help you in your financial management. I would love to hear from you. Again, I’m Amanda Christensen. Thanks for stopping by, and I’ll see you again soon. Bye. ............. Connect with USU Extension! Facebook - http://facebook.com/usuextension Twitter - http://twitter.com/usuextension Pinterest - http://pinterest.com/usuextension LinkedIn - http://linkedin.com/company/usuextension Google+ - https://plus.google.com/+usuextension
