10 Life Choices That Will Hurt Your Finances

make the right choice

Sometimes people make life choices that end up negatively affecting them in their future. Life doesn’t always make things easy and when things get difficult, it can be difficult to make a good choice. Unfortunately, we live in a society where so much depends on money and financial security that the life choices you make can can have a large negative effect on your finances. Listed below are a number of life choices that you want to avoid if possible since making them will likely leave you a lot poorer.

Quitting Your Job Without Another Lined Up

A lot of people wish they could quit their jobs without a second thought. If you have a job that is aggravating you to the point of quitting,

...

[Continue Reading at SavingAdvice.com]

This entry was posted in Budgeting, Education, Housing, Insurance, Personal Finance, Relationships, Work and tagged , , , , , , , , . Bookmark the permalink.

13 Responses to 10 Life Choices That Will Hurt Your Finances

  1. getforfree says:

    I just don’t understand why someone would want to look reacher than they really are. Does that give them more respect? Helps earn more money? What else it can be useful for?

    I know that the sales people want to look reach to show everyone that they are successful at selling stuff therefore they can afford expensive things. So that helps them earn more money.

    I would rather look poorer than I really am in order to score some discount or even free stuff. I don’ really care what they think of me, I only care if it saves me money.

  2. Great list! Finding a higher-paying job is ideal, but I would also argue that a new job that pays the same with better earning potential is another option. I made the switch a couple years ago and though I didn’t make more money at first, I make more money now.

  3. diana says:

    I would add getting pregnant as a teen to the list. it almost seems like this is celebrated with all the TV shows about it these days, but it’s a great way to make your life financially difficult from day one.

  4. That’s one heck of a list but certainly choices that could hurt finances. I know people who have quit jobs without another lined u up because they know they will find another with their skills but that’s a big risk to take. I certainly would make sure I had something lined up first.

  5. Jim Robinson says:

    Hi

    Just a great list and thank you. Just taking one of your items on the List that is a job. You are so right, if one does not like a job hang in there so that you can tell your future Employer that you are caple of more. Come to that why not tell your present employer that you are keen to make a greater contribution to the business and ask for greater responsibility and more money!!
    Don’t hide ones light under a bushell.
    Sound List

    Regards

    Jim

  6. Trevor says:

    Thats a good list. We don’t plan for those things and we are rarely prepared for them. Good job listing them so we can watch out for them.

  7. Minny says:

    The wedding thing is big business here in the UK. $30,000 seems to be accepted as the cost of a wedding and there is a whole industry built around getting wed.

    It is insanity, this money could go towards a house.

  8. wanda says:

    Divorce is a huge money waster, especially if the two of you are at each other’s throats during the process. The only winners are the lawyers.

  9. Anni says:

    I’ve already done a few of these. I quit a job without having another lined up, but that was due to discovering fraud at the charity I worked at. As the bookeeper, I was the one “writing” the checks, so I got out as soon as I discovered it. I was only unemployed for about 3 weeks, but it did a number on my finances for a few months. I had used my emergency fund for an insurance deductible so I had nothing to fall back on. Now, I have a separate savings for insurance deductibles so they don’t come out of my EF.
    I also borrowed a ton for college and I’m not done yet. It’s depressing. Any chance of a follow-up article with solutions to these mistakes?

  10. Tony says:

    A wife can go either way, depending on both the man and the woman.

    A girlfriend is almost always a huge financial minus!

  11. David Smith @ PBC says:

    Hi Danielle,

    This is a very useful list. There are choices that people make in the course of their lives that can really jeopardize their finances. It is important to be careful in making decisions before actually making one. For instance, it is not practical to buy a home that you cannot afford. You need to save sufficient funds first so you will not end up being put on a spot.

  12. gregory says:

    I totally agree. The weddings I have been to lately seem to be going over the top and the only thing I cna think is how much better this money could have been spent.

  13. FINMANTRA says:

    Totally agree on your views on wedding. In India at least wedding involves lot of money, which i find waste of money. Here lakhs of money is spent on marriages which usually parents cannot afford, but for society they are forced to do so. Nice to see this website.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>