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7 Biggest Financial Mistakes and How to Avoid Them for Good

  7 Biggest Financial Mistakes and How to Avoid Them for Good Managing money can feel like navigating a maze without a map. Sometimes you take a wrong turn without even realizing it. These missteps can cost you not just now but for years to come. The good news is that most big financial mistakes are entirely avoidable once you know what to look for. Let us talk about the most common pitfalls and how you can steer clear of them for a more secure future. 1. Letting Lifestyle Inflation Eat Your Raises You get a promotion or a better job with a higher salary. It feels natural to celebrate. A newer car, a bigger apartment, or more expensive hobbies seem within reach. This is lifestyle inflation . The problem is not enjoying your success. The problem is when your spending grows to match every single increase in your income. You end up just as financially stretched as before, even though you make more money. The fix: Make a habit of saving a portion of every raise. If you get a 5% raise, ...