Money Sabotageby Mary Ann Romans | More from this Blogger 02 Apr 2009 06:57 AM
Everyone is Doing It The idea that everyone owns a large home, sends their children to an expensive summer camp, goes on an expensive vacation every year and owns all of the latest electronic gadgets is a way to rationalize needing these things for yourself. But if you take money out of savings to pay for some of these things or go into debt for them, you may also find yourself bankrupt, as "everyone" seems to be these days. Decide what things are really important to your family and find ways to have them without breaking the bank. Bad Things Won't Happen to Me Not anticipating unexpected expenses can get you into a lot of trouble. If you decided to use your tax refund for some new clothes instead of saving it, what will you do if the furnace fails or the car breaks down. I know a dear sweet family who were unprepared when they suddenly lost their income. Fortunately family and friends are able to help, but there are still some things, such as telephone service they have to do without as well as the ongoing threat of losing their home. Having an emergency savings is a good idea. Live for Today While living for the moment and getting the most out of life can be very important, it is also important to realize that decisions and actions regarding finances have consequences. Many times we attribute money woes to bad luck, but often if we look back we can see how we might have made different choices that would have led to a better outcome. A bad financial decision can lead to money difficulty years down the road. Have you ever had a bad financial experience that you had to turn around? Mary Ann Romans writes about everything related to saving money in the Frugal Blog, creating a home in the Home Blog, caring for little ones in the Baby Blog and now relationships in the Marriage Blog. You can read more of her articles by clicking here or subscribe to the blog using the subscription box on the right. Favorite Deal Websites: Related Articles: Simple Attempts at Money Stewardship Money Saving Steps to Take When You Are Laid Off Learn more about Mary Ann Romans  Mary Ann Romans is a freelance writer, wife and mother of three children. She lives in Pennsylvania with her husband, the kids and a 16-pound cat. Relevantfrugal tags User Comments No comments on this article yet. Be the first to comment! Community Tags frugal living, frugal tips, money advice, save money Discuss this article
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Sometimes the things we tell ourselves lead to bad decision and financial trouble. Here is how to avoid common pitfalls.
