Let the hard-earned money stay in the money bag 5 common financial errors that make you want to cry at the end of the year

It's the end of the year again, and you may receive notifications from gym members, healthy diet plans and other advertisements that you will see at the end of each year. If you are determined to watch the tight purse next year and don't want to repeat it, you might as well listen to the experts' opinions. GOBankingRates lists five financial errors that will make people pay expensive prices by the end of the year, and provides references to allow hard-earned money to stay in the money package.

1. Spend too much money during the holidays

Although there are Black Friday or online Mondays during the holidays at the end of the year, personal financial expert Erika Kullberg said that people will want to eat delicious food, buy clothes, and buy gifts during the holidays. Short-term promotion discounts seem inviting, but in fact, they will spend more money than expected.

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Erika said that short-term promotions will make people feel "no longer if the offer is over", but in fact, the sales volume of the product is not good, and it will be sold at a discount next time the promotion is sold. She suggested that she resist the urge to take out her credit card immediately when she saw the offer, unless it is an item that is in the budget or originally planned to buy, otherwise she may receive a high-priced credit card bill after the holiday.

2. Over being generous, many people like to give gifts. Erica said that some people end up with giving gifts and end up with heavy financial burdens. She no longer gives gifts much, and also reminds everyone that not everyone they know needs a gift, nor does every gift have to be expensive.

3. Overpaying credit card

is due to high returns to buy large quantities of items needed during the promotion period or purchase during the holidays, but if you do not have a settlement plan or cannot pay the bill, the result may be depressed. Erica said that if the payment cannot be paid, no matter how much you pay, it will be useless, because the card-swipe reward will be offset by the cycle interest.

4. Without a simplified financial goal

Many people will set up financial plans for the next year at the end of the year, with goals including saving more money, starting to invest, paying loans, and giving more money to retirement funds, but they will soon find that they feel exhausted without attending the New Year party, because being pulled by such a multi-purpose and multi-horse bike makes people at a loss and eventually give up all of them.

Experian publicity manager Kristinna said that you should not expect to achieve all goals at once. You can start with the smallest plan and divide the goals into small parts, one at a time. Although this sounds uninnovative, dividing the goals into several small parts can build confidence and motivation.

5. Before entering the new year, you must first review the year that will be over, find time to sit down and carefully review your account and credit card consumption records. Kristinna said that this will help you better understand your financial situation and allow people to make smarter decisions.

Crystinna said that by examining financial records, determining monthly income and expenses and calculating any possible debts, there can be better financial prospects.

Experts believe that small changes such as attention to spending and setting can have a big impact, and with a little planning and compliance with the rules, they can successfully move towards a safer, less pressure-free financial future.

Responsible editor: Gu Zihuan