Hi guys,

First of all, My apologies for updating the Blog. It have been for over 2-3 months since i updated Blog. Guess my schedule and of course my laziness caused me to postpone my blogging commitment. Well, hope you guys accept my apologies. So lets move on and as promised, I'm continue blogging about the first Part of my Personal Financing Tips series (If you guys missed out, refer my Personal Finacing -Intro article written on the 28th September 2010)

As stated in the earlier article, this part mainly focuses on the common money spending mistakes that we use to commit. The first mistake will be lack of spending plans and overspending. its can be ignored the fact the Humans have a "monkey brain". We just can't control ourselves from buying things that only satisfy our emotional needs or useful for short terms only. Only this problem mainly applies for people who have credit cards. Lack of planning will result in credit cards bills becoming fatter and fatter while the balance amount in the credit card becoming thinner and thinner. This proves to be the problem face by a majority of the people.
The second will be Not doing your homework. Basically, very few user will conduct a simple research on which place to get the desired goods that comes with good deals or reasonable price. Due to this, many consumers usually end up buying goods at a higher price or unreasonable price.

The third major problem and this mainly applies for credit cards will be buying products with consumer credits. There are some people who despite of enjoying some good benefits like lower price rates and discount, always prefer to buy things using credit cards. Please keep in mind that credit card might be handy but frequent spending using credit cards usually leads with higher debt repayment and the worst part will be that the debt repayment must be done using most of your future earnings. Lat but not least, it can't be ignored that most people do not have long term planning, especially in terms of retirement plans. Most people wants to retire fast and enjoy the remainder of their lives. But remember that you need good money to enjoy good life. So the problem will be delaying savings for retirement. Old age of 60's and 70's is where the energy to work and the level of your health will be low. So to retire fast, you need a good chunk of money to helps you go through your old age. Therefore the more delays made on you retirement savings plan(s), the more harder for you to accomplish your goals which is to retire early.

Well, there are more problems or mistakes in terms of money spending. But the mistakes stated above are the common and most highly-rated mistakes done by people or consumers. In next part we'll be seeing on how to tackle this problems and improve our spending plans and making our accounts more fatter!!!..Until then, stay tune peepz!!!..;)