1. Don’t spend to impress friends.
3. Not learning how interest works.
4. Living your best life on credit. If you can’t afford it cash, move on.
5. Don’t spend before you earn. In other words, don’t count your chicks before they are hatched.
6. Don’t buy luxuries until you have assets to maintain them.
7. Keeping money in the bank instead of investing with it.
8. Don’t spend all you earn.
9. Spending more than what you have.
10. Don’t listen to the wrong financial advice from people who don’t have their finances together.
11. Not getting educated on reading a book on financial literacy.
12. Don’t buy until you can afford it twice.
13. Poor people buy liabilities. Rich people buy assets.
14. Don’t spend money you are yet to receive.
15. Avoid scammers.
16. Getting into debt to buy liabilities.
17. In time of crisis, cash is king. Be wise to keep liquidity ready and design portfolio where holdings can be liquidated when needed.
18. Don’t lend money to friends!