Your biggest money mistakes -- and how to avoid them

9 smart moves for keeping your cash

You contribute to a 401(k), signed on for all the right insurance coverage and built an enviable credit score. Guess what? You are probably still making money mistakes.

A 2010 report from the National Foundation for Credit Counseling found that more than 11 million Americans don’t track their spending and have no idea how much of their budget goes toward housing, food and entertainment — 56% of respondents didn’t even have a budget — and more than 68 million Americans have no savings at all.

If you budget and save, give yourself a pat on the back. But these prudent actions aren’t the only things you should do to help keep your cash where it belongs.

Our 9 smart moves will show you how to keep money mistakes from ruining your finances.

By Jodi Helmer Contributing Editor

  • http://none Daryl

    These are good suggestions for everyone. We did not learn this in High School Economics and maybe it should be a full year class in the 12th Grade. At the local High Schools, the class is only held in the Fall or Spring Semesters instead of being a course that you take from the Fall until the Summer. They can teach the students about Credit Cards and Banks so they know the terminology. There they will find out about finance and banking laws and the difference between a fee and a courtesy charge. How Algorithms are used to program a credit card machine, etc. etc. etc. Just reading the back of a credit card offer to catch the scams can help the students learn.