When it comes to your money, everything you do has an impact on it. Literally everything; even the smallest things that you may not think matters! This is what we shall be focusing on for today. To be specific, we wanted to take a look at small habits which end up having a big impact on your finances—especially over a prolonged period of time.

Let’s begin:

Subscriptions

There are a lot of things in our life that require subscriptions: cable TV, magazines, Netflix, gym membership, and so many other things. While a couple of these may not be so bad, if you have several things can really snowball on you if you’re not careful.

You need to determine if those subscriptions are worth it. How commonly do you make use of them? What do you get out of it? How much do you save if you don’t have them? These are some questions you need to ask yourself.

Eating Outside

One of the best things in this life would be exploring the culinary offerings that professional chefs have to offer. However, these things are rather pricey—especially if you make it a habit to eat out regularly. It always cheaper to prepare your own food at home; the price you pay for a night out can actually feed you for several days if you’re smart about it.

Treating yourself is not bad at all. You just need to keep track of the overall cost of eating outside.

Not Minding the Change

Change is often an afterthought for most people. We get them when we pay for coffee or commute. We often do not keep track of them, especially when they come in coin form. The thing is, when pennies and nickels are pooled together, the final amount may end up surprising you.

You need to start keeping track of your change and see how much money you actually have.

These are a few small things that can have an impact upon your finances when you aren’t careful. What other small things can you think of?

Money is often the friend of those that manage it well and the foe of those that do not. If you are ever going to make your money grow and work for you, it would be important to be aware of money mistakes.

Here are a few of the more common money mistakes that people make while in their 20s and 30s:

Not Having Insurance

Insurance is often seen as a nice accessory but not really something that’s relevant until you’re way older. However, by the time when “older” hits, it’ll be quite difficult. Insurance—whether for health or something else—is more than just something to help you tide through sudden loss of job or loved one. It helps protect you from suddenly being surrounded by debt, too.

Insurance is actually best to get while you’re still young. The monthly fees are low and time is on your side. The younger you start, the bigger your payouts will be in the future. This is something that people should consider about insurance.

Not Having a Retirement Plan

It is never a comfortable subject to think of retiring when you are still young in your 20s and 30s. However, the economy is no longer as friendly for those that do not have retirement plans. While you are still in your prime and are able to pull in income that is more than enough for your needs and wants, it would be smart if you set up a small but regular retirement fund.

Retirement plans helps spare your offspring or other relatives from having to support you when you are no longer able to do it for yourself. Think of it this way, if you have literally no family to support you, how will you survive when most companies don’t hire people in the fifties?

These two are the biggest money mistakes that people tend to make—at least, the ones we’ve seen with our own eyes. What money mistakes do you think people make in their 20s and 30s?

 

Trading on the Wrong Forex Trading Platform

Trading on the wrong Forex trading platform for their trading style.  Every single Forex broker has a unique offering so it is only natural that there are a lot of different FX trading platforms available.  Trading on the wrong platform can be a costly mistake for traders so it is important to make sure you select the right one.