In finance, there are all sorts of best practices that can help you build wealth and gain confidence with money. However, for every best practice, there is an equal number of bad practices that can derail your progress or even completely jeopardize your future success.
And while failing to build a budget or letting “lifestyle creep” take hold may not seem like they will have a major effect on your finances, it’s often the small mistakes that can lead to big trouble down the line.
As leaders in the financial industry, the members of Kiplinger Advisor Collective are familiar with the kinds of mistakes that can negatively impact a person’s overall success with money. Here, they each share one financial “don’t” (or mistake) they always advise their clients to avoid, why and the impact it can have on their future.
This post originally appeared at Kiplinger.