In order for me to garner an extra entry into his draw, I want to write about My Money Mistake & How to Avoid It.
I'm fortunate that I actually don't have much to report in the way of money mistakes as I've always been a pretty conservative person when it comes to spending. One mistake that I would like to report though is a habit that I had in my teenage years as well as through University and a little beyond. The mistake is with respect to not minding the little things, when it comes to money. Once I learned what I do now about investing and how to compound money the little things started clearly becoming more important in financial life.
For example, I've gone through periods where I have:
- played lotteries like Pro-Line excessively ($20 / week or more)
- habitually spent money on small items, when I didn't need to (ie CDs, coffee)
- ignored other small, repetitive expenditures
The little, repeating things matter!
While it is no iPOD, I am giving away a great investing book in the moneygardener's book giveaway. Enter here if you have not yet done so.