\uc628\ub77c\uc778 \uce74\uc9c0\ub178<\/a> might help.<\/p>\nNo Money Down is an Expensive Way to Go<\/strong><\/span>
\n<\/strong>The no-money-down trap is simply another way to get you locked into making long-term payments on items you need to be buying outright. This leads to paying interest charges on a purchase, making the real cost much higher than the original purchase price.<\/p>\nAcquiring Too Much Credit Card Debt<\/span>
\n<\/strong>Credit cards can make it easy to spend beyond your budget and create financial hardship.\u00a0 Here are some common mistakes that need to be avoided.<\/p>\n\n- Charging more than you have in your bank account<\/strong><\/li>\n
- Not paying your bill on time<\/strong><\/li>\n
- Not paying off the entire balance each month<\/strong><\/li>\n
- Making only minimum payments each month<\/strong><\/li>\n
- Having too many credit cards<\/strong><\/li>\n
- Using your credit card for emergencies<\/strong><\/li>\n<\/ul>\n
Purchasing the Newest Tech Products<\/strong><\/span>
\n<\/strong>For those who feel they have to have the latest iPhone, TV or gaming system, this is a trap that can lead you to spending hundreds of dollars when what you have probably does all you need it to. \u00a0All these items, along with being expensive, also have monthly fees associated with them.<\/p>\nThink twice before buying something that may not provide a great deal of additional benefit while it\u2019s taxing your wallet heavily.<\/p>\n
<\/p>\n
Putting Off Retirement Contributions<\/strong><\/span>
\n<\/strong>The sooner you begin building your retirement fund the more likely you\u2019ll have adequate investments to retire on.<\/p>\nPutting off contributing to your retirement account is a common miscalculation when we believe we can make it up later.\u00a0 Not taking advantage of compounded interest over many years can reduce your nest egg and impact your retirement years.<\/p>\n
Local Financial Guidance<\/span>
\n<\/strong>The Mitchell Agency does not offer financial counseling, but we do know several local financial planners and other resources that can help you create a family budget and provide recommendations on how to avoid these financial traps. Just give us a call at 765-742-1135<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"According to Dave Ramsey, a well-known speaker on financial topics, \u201cManaging money is 80% behavior and 20% head knowledge. \u00a0It\u2019s what you do, not what you know.\u201d\u00a0 \u00a0 Here are a few money traps that with a little knowledge you can avoid some very costly mistakes.\u00a0 By doing so you\u2019ll be in a stronger financial […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/posts\/1605"}],"collection":[{"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/comments?post=1605"}],"version-history":[{"count":15,"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/posts\/1605\/revisions"}],"predecessor-version":[{"id":2184,"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/posts\/1605\/revisions\/2184"}],"wp:attachment":[{"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/media?parent=1605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/categories?post=1605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mitchellagy.com\/wp-json\/wp\/v2\/tags?post=1605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}