Financial Mistakes I've made in the past

Today is y 40th birthday, which is making me a little nostalgic. I'm going to be very vulnerable with you here. I've made a lot of financial mistakes with my own personal and family planning during my younger days. I've learned from these mistakes and now make it a priority to talk through these issues with my clients. I hope you can learn from my mistakes as well and set yourself up to be one step ahead of me.

1. I waited too long to pay off my student loans, twice

   • I paid more in interest at the end of the day

2. I let lifestyle creep set in

   • I had the wrong priorities

3. I didn't adhere to a strict budget

   • I wasted money on things that didn't last

4. I didn't save the maximum

   • See above, this wasted money didn't go into my savings

5. I bought high and sold low

   • I lost money because I got scared when the markets got volatile

6. I bought expensive funds

   • I bought into the hype that I needed mutual funds and fancy managers. This cost me more money in the end

7. I didn't have a rhyme or reason for investing

   • My investments were not coordinated, not tax efficient and were randomly chosen. This cost me more money in the end.

8. I let someone I didn't trust do my investing

   • My gut told me that I shouldn't have gone with him, but I thought I wasn't smart enough to do it on my own, even though I had the same exact credentials (see imposter syndrome). This cost me more money in the end.

I hope you see a pattern here. And hopefully you don't fall into any of these same pitfalls. Today I am blessed and living my best life doing what I love to do - helping women with complicated financial lives. So if you are wondering why I preach the same financial topics over and over, now you know why. Let me help you organize your financial life and set you up for success. Email me at cgamache@audaxwealth.com for a no-obligation discovery meeting.

Until next time, be well!