If you want to become financially independent, the first thing you need to do is to start living on a budget. Then realize there are budget mistakes to avoid.
A proper budget can help you track your spending, avoid unnecessary expenditures, and save money, all of which are critical to achieve the goal of financial independence.
At the same time, creating a budget and making it work is not an easy task. Even people who are knowledgeable about personal finance tend to make budgeting mistakes from time to time without even realizing it.
Let us take a look some of the common budget mistakes to avoid, issues that can make your financial plans go haywire if you’re not careful.
Small-cap winners galoreThe big stock market winners share one common attribute: Near the beginning of the ascent of their shares, the companies offer revolutionary products or services, are market leaders in their respective industries, or both. Some big stock market winners that possessed the attributes outlined above are Netflix (NFLX), which we recommended to investors in October 2002; Intuitive Surgical (ISRG), which we bought and recommended in July 2004; Baidu.com (BIDU), which we bought and recommended in August 2006; and MercadoLibre (MELI), which we recommended to investors in October 2010. Get up-to-date small-cap stock picks from David Frazier, editor of Small-Cap Profit Confidential.
Smarter cryptocurrency investmentsThe stock market crash of 2008 was the catalyst for his journey into alternatives. And interestingly, it was the impetus behind the creation of Bitcoin and the blockchain technology behind it. Keene Little wasn’t ready to risk his money yet but he was very curious, so he began charting Bitcoin’s technical patterns. What finally convinced him to dip a toe into digital currencies was seeing that they followed familiar price patterns that could be analyzed and successfully acted on. Now he shares those insights with subscribers to the Crypto Wealth Protocol.