Not having an emergency fund
This is one of the biggest personal finance mistakes you can make, especially if you belong to a low-income or middle-income household. If you do not have any money saved up you only have two options in case of an emergency — borrow money from someone or sell something you own. Both are bad decisions in their own way and can be difficult to recover from. The first thing everyone should do is to set up an emergency fund, cash you can access should an unforeseen need arise.
