Common mistakes people make when trying to save money

The most common mistakes people make when trying to save money are:

• Not getting started
• Not saving enough each month
• Not taking advantage of employer matches on retirement savings
• Living above their means (and thus limiting the potential for saving money)

Often when getting started, many people freeze in the face of terms like 401k, IRA, Roth, mutual funds, etc. That fear and lack of knowledge can cause what many refer to as analysis paralysis.

I would rather you get started and make some mistakes than not get started at all or wait 10 years to do it.

With the age of the internet, finding information and educating yourself has never been easier. Between YouTube and podcasts, you can learn how to do almost anything quickly and easily.

So take a deep breath, do some research but ultimately get started sooner rather than later.