10 Money Mistakes You’re Making, According to Financial Experts

You have too many paycheck celebrations

According to Vincent Baert, financial expert, myPOS, “paycheck celebrations are the impulsive purchases people make right after payday”. You are satisfied with having money in your bank account again and feel like you deserve a reward such as a nice dinner out or an expensive pair of shoes. “Whenever I receive my paycheck I already have a rough estimation of my spending in mind; the deeper and more detailed that rough estimation is the better I am at money saving this month,” says Baert. This doesn’t mean you shouldn’t get to enjoy celebration purchases; it just means you have to control your spending urges and stick to a certain plan when it comes to such celebrations. “Set the limits and follow through.”

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