Haunting the financial horrors to avoid

(Investigate TV) – A Council of Financial Educators the survey found that lack of financial literacy cost Americans $1,506 in 2023.

Debt relief attorney Leslie Tayne shared the most common money mistakes he sees consumers make:

Not checking credit reports regularly

She said that in addition to looking for errors, charges or cards they don’t recognize, people should look at their credit score.

“I generally like to recommend October 31 because it’s a scary day and a lot of people find it really scary to check your credit report, but it’s a good time to remember to do it,” Tayne advised . “You’re entitled to a free credit report once a year, and now is the time to get to the end of the year to make sure your financial health was in order during the year.”

I don’t stick to your budget

She said look at budgets often and adjust when necessary — cut back where possible.

“Budgets are important,” Tayne said. “If you don’t stick to your budget now, it’s going to be very difficult going into the holiday season.”

Carrying credit card debt

Tayne urged people to avoid letting debt pile up. Even though it feels overwhelming, it’s never too late to start paying.

Make a plan now to pay now to avoid the same financial difficulties a year from now.