What is the biggest or most common mistake that people make when it comes to personal finance ?

Not setting a budget.

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If you have no idea about the following, you can't start to keep track of your finances :

• monthly & annual income
• fixed expenses
• variable expenses

Spending whatever you have on a whim is the easy way out but the biggest mistake anyone can make

Hello!

i think that one of the biggest mistakes made would be when people live from paycheck to paycheck. It is essential to save some of your savings be it for rainy days or as emergency funds. Living from paycheck to paycheck is rather dangerous since you will not have any savings should anything have happened to your job.

The other big mistake that people make would be that they do not invest. Investing will be able to help you to grow your money so as to keep up with inflation and maybe even help you acheive your financial goals. It is important to start as early as possible.

In terms of investing, people should not be afraid to take risks. every investment comes with risks, so it is essential that you will not be afraid to take on some form of risk.