3 Money Moves to Avoid

With the uncertainty of the economy and overall investing habits people have become more careful in where they allocate their money. Nothing is fool proof however, and being wise doesn’t come without a price. Here are three money moves to avoid the pains of making a mistake.

1. Holding on to bad investments

Underperforming investments are not something to hold on to for the long haul. Get rid of them and look into the thriving investments of the future. This is one of the more costly money moves to avoid. Today’s investors are not putting all of their money into tech companies from the past but rather have decided to go green and save money. Establishing green money management habits can put you into the driver’s seat of investing.

2. Putting a halt on your retirement plan

When the economy goes bad people get anxious. One of the dumbest money moves to avoid is pulling all of your money out of your 401K can be a costly mistake. There have been some that have stopped their own retirement plan to fund their child’s college fund. This, too, is a move to avoid. Balance is the key to success.

3. Spreading yourself too thin

Spreading yourself too thin in any area is not a good thing, especially in finances. Establishing green money management habits will help you conserve money and resources. Consumers have found that when they go green and save money they have more at the end of the month than they did before.

The information supplied in this article is not to be considered as medical advice and is for educational purposes only.