bride and groom
Image courtesy of www.flickr.com

Experts advise against these stupid money moves …

Expensive Weddings – A recent study reveals couples now spend an average of $31,213 just to begin their marriages … not including the honeymoon.

Buying McMansions – Most would agree becoming ‘house poor’ is a costly mistake. But still, 43% say their dream home is ‘somewhat’ or ‘much’ larger than their current residence.

Fancy Wheels – Instead of becoming infatuated with the latest auto trend, recognize the value of lower payments on a dependable used car that allows you to reduce interest costs.

Refusing to Invest – Nearly half of people surveyed are placing virtually nothing aside for the future. Overall, fewer than 1-in-4 are saving more than 10% of income.

Payday Loans – These last-resort loans have become so popular, millions of people are trapped in a cycle of paying up to 400% interest to cash in their paycheck ahead of time.

– CheatSheet.com