Money experts know it all, right? Well, you’d be surprised to learn that even the people whose livelihoods it is to teach people about personal finances have messed up their own at one point or another. Yes, even the authorities have screwed themselves over at least once. Mistakes happen no matter your expertise or wealth of knowledge. And it’s easy to see why — managing money is hard. Not to mention that sometimes the only way to find out what not to spend your money is through experience.
For example, you were extremely excited to buy your dream home, only to you find out in a couple of months that the cost for maintaining is far higher than you anticipated. That’s life. It’s not always going to work out the way you envisioned, but that’s okay. The best thing you can do for your financial future is to prepare as much as you can for those mishaps or lapses in judgment.
If you’re currently feeling bad about not following your budget to a tea and overspending on non-necessities — don’t be. We all have our fair share of setbacks, even those you look up to in the personal finance world (yes, really). Find out what money mistakes five well-known money experts have made themselves in this week’s installment of the 3-Minute Guide, brought to you by Skillshare.
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