The 8 Biggest Money Mistakes

Mistake No. 1

Giving Control of Your Money to Someone Else

Most people will never reach their dreams of building wealth, being financially free and secure, and being able to retire in comfort. The reason is most often a combination of the 8 biggest money mistakes.

Now you might ask yourself what this has to do with trading the stock market?

Well, lots! Because as you know yourself, it takes money to trade and invest. And the more there’s left for you at the end of the day, the better. And avoiding the 8 biggest money mistakes can make a huge difference.

So here’s mistake No.1:

Giving Control of Your Money to Someone Else

Never allow this to happen! I can’t stress this enough. I’ve have seen people go down financially before my very eyes because of this fatal mistake. Lucky for one person that she’s my own mother! At least me and other family members can support her, because my father doesn’t.

She left all the finances in the hands of my father that unfortunately didn’t know the very first thing about controlling and handling money. He had absolutely no money management skills whatsoever..

And then they separated after 30 years and the financial downward spiral started.

If you're not involved in your day-to-day family finances, you're putting yourself at risk.
If you're married and you let your spouse handle all the financial matters, you're at risk if your spouse dies or becomes seriously ill or if you divorce. Know the details of your family's finances, investments, debts, retirement savings, etc.

Don't turn your investments and financial affairs over to a broker or financial consultant either without keeping track of what is being done with your money and being involved in investment decisions. Never give control of your money to anyone else. NEVER!!!

Click here for Mistake No. 2: Not Controlling Spending Leaks.

Yours in Successful Trading,

Ricky Schmidt

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