It's great to find ways to maximize savings, identify winning stocks and improve career prospects. But sometimes it is also important to consider the other side - how to avoid major mistakes that can cripple your financial future. In fact, some of the biggest mistakes that people can make are entirely in their control and completely avoidable. Here are five easily avoidable financial mistakes you may be making right now. (For related reading, also check out 6 Worst Financial Mistakes And Why You Made Them.)
1. Insurance - Too Little, Too Late
Having inadequate insurance is an easy way to ruin your financial life. Every year there are reports of significant catastrophic flooding in some part of the United States, and every year that means some homeowners are facing an economic wipeout. Standard homeowners insurance excludes flood damage, and many homeowners neglect to buy a flood policy.
If a guest injures themselves on your property and you are not adequately insured, you may be forced to pay out of pocket for their expenses. The same can be true for people you hire to work on your house and even trespassers.
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http://financialedge.investopedia.com/financial-edge/0511/5-Easy-Ways-To-Ruin-Your-Financial-Life.aspx
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