Financial Traps to Avoid

• Not being prepared for emergencies. Plan ahead. Stash some cash so you’ll be able to have a least a three-month emergency fund. • Living off credit cards and making minimum payments. Once you go down this road, you may never catch up. • Using loan leftovers. If you happen to have some leftover loan money, don’t spend it – use it to pay back what you’ve borrowed. • Rushing to build credit. While you want to have good credit, you don’t want to do it by opening multiple credit cards accounts. Chances are you’ll lose track of billing and end up in heavy debt.