Welcome to our new feature, Money in Your Pocket! If you're like may of us, you've slated 2013 to be the year to get your financial house in order. We will provide articles, tips, videos and education each week on ways to SAVE MONEY! Saving money could include ways to lower bills, save at the grocery store, or even make money on the side!
To start us off, let's look at some "Money Boo-Boos" ... and maybe you'll get some idea of where to start!
According to Mint.com users, these are the top ten money sins that they admit to!
Here are the Top Ten, in no particular order:
Not saving for retirement.
Percent pleading guilty: 14%
Not taking advantage of tax-advantaged accounts like 401(k) or IRA.
Percent pleading guilty: 25%
Not following a budget.
Percent pleading guilty: 28%
Not setting goals and checking on their progress.
Percent pleading guilty: 29%
Not automating your savings.
Percent pleading guilty: 30%
Underfunding your emergency fund.
Percent pleading guilty: 49%
Spending too much on housing.
Percent pleading guilty: 20%
(Mint.com set the “too much” cutoff at 30% of gross income. And that’s for your rent or mortgage payment plus insurance and, if applicable, property tax.)
Trying to keep up with the Joneses/sometimes living beyond your means.
Percent pleading guilty: 17%
Not insuring yourself.
Percent pleading guilty: 22%
(The big three types of insurance that everybody needs to consider are life, health, and disability, according to Mint.com.)
Carrying a credit card balance.
Percent pleading guilty: 26%
Guilty of any of these! Feel free to leave comments below about which of these topics you'd like to see us tackle first!