4 Industries We’d Love To See Crypto Help Out

With the explosion of crypto, there’s been numerous speculation about what industries can utilize blockchain. Yes, from agriculture to finance, a lot of entrepreneurs have been looking to see how they can implement blockchain technology into their industry. However, as with any tech craze, there’s not always going to be a fit, which is why we’ve listed a few of our early favorites and who we think will be successful with blockchain. Check them out below:


 If there’s one industry that could definitely use the help of blockchain, it has to be with lending. According to SuperMoney, there was approximately $1.38 trillion lent last year in the US alone, which blockchain has a lot of potential to disrupt. Why? Because not only could lending be down in cryptocurrencies, but the process to get funded could be done on the blockchain as well.

Where blockchain could come into play with lending is the ability to give people more favorable deals on their interest rates, especially since they’ll be contingent upon the market. Additionally, the verification process of approval, as well as the execution of repayment can all be done in the blockchain, saving a tremendous amount of time.

And lastly, with how secure the blockchain is as a file-sharing mechanism, this keeps financial records protected much better than traditional channels. Yes, crypto could be the perfect way to gain financial refocus in a very immediate future.


 As the blockchain is all about the execution of smart contracts, the very structure of it alone could save numerous parties from the costs of drafting and execute a contract. Not only will this create an autonomous system that doesn’t rely on as many actors, but it additionally provides a level of transparency and security currently unmatched. And as noted by lawyers.com, with your average lawyer costing $100 to $400 per hour, blockchain just might be the perfect solution to saving big.

While there have been some early players in the blockchain space working on contract protocols, it’s going to be interesting to see how this develops. Although the blockchain won’t completely eliminate the need for lawyers or contract writing, it definitely will make the execution and follow-up of contracts much more efficient. All-in-all, smart contracts can make a big difference soon and should be something to keep an eye on in the next few years.

Asset Management

According to Deloitte, the asset management market is worth $40 trillion the US alone, which is a massive industry to try to enter. However, for the blockchain, this is much more attainable than you might imagine. After all, a lot of assets gain their value based on guesswork, with a lot of folks fudging the numbers around to prop up the price. This is one thing that will wildly be transformed by the blockchain.

Considering that the blockchain provides a receipt of proof-of-stake, every asset can have a chain that tells what’s been done to it and when. For example, the renovations on a house or piece of property, where you have a specific receipt tied to that asset where you know what was done and when.

To be successful with this, there has to be a form of backing or security; this is what stablecoin is trying to solve. All-in-all, expect asset management to become heavily influenced by the blockchain soon, providing a chain of receipts that help define the value.


 Finally, if there’s one industry that’s been a great early use case for blockchain, it has to be the art world. Specifically in the world of digital art, until recently, there hasn’t been any proof of ownership on a digital file. As anyone can take an artists work off their page and post it on Instagram, the blockchain prevents that by providing a proof-of-stake/ownership on who the original creator was. And although a simple application of blockchain, it’s also brought about some surprising figures thus far.

Because the blockchain verifies that a digital file is a one-of-one, this creates scarcity, which in turn increases the value of the art. For example, as noted by Motherboard, a Rare Pepe (the popular internet meme) recently went for $38,500 at an auction, which is a staggering figure for what most would consider a meme. However, as a one-of-one collector’s item, this price point proves it’s just the beginning of digital art on the blockchain.

What are some industries you’re excited to see crypto help out? Comment with your answers below!

Conserving Costs In Terms Of Healthcare

A Tricky Situation

It’s well-known that the healthcare industry is becoming revitalized by industry changes. Some even characterize these changes as exponential. Some of those changes are good, some aren’t. To help you separate the “sheep” from the “goats”, as it were, following is a comparison between the UK’s NHS service, and private healthcare in the United States.

Consider firstly that the NHS of the UK is under intense scrutiny from UK citizens. This is primarily because it represents a government-run option, and as a result citizens hold that option accountable. But there are problems with such systems, as many in America realized when ACA became a codified reality.

Consider this: in America, approximately $3.3 trillion from the GDP is spent on healthcare, or approximately 4.3%. The UK spent about 9.9% of its GDP on healthcare in 2014, or around £179 billion.

Waiting room times for the emergency room in the UK aren’t great, but they are somewhat manageable; meanwhile, the US healthcare system is riddled with much more difficulty, as wait-time statistics there don’t include associated treatment. But something else worth considering here are the numbers associated with population. Even if you work in health industry you won’t be able to avoid some of the health system difficulties.

Population Considerations

One-hundred seventy-nine billion pounds is hardly comparable to 3.3 trillion dollars; especially when you take population into account. America has approximately 323 million citizens. The UK has around 65 million. Basically, the UK is 1/5th the size of the US in terms of population, but they spend almost ten percent of their GDP on healthcare—or more than twice as much as the US.

Meanwhile, the US is five times the size of the UK population-wise, and spends only 4.3% of its GDP on healthcare, as pointed out earlier. In order for the US to have a system of public healthcare that works like that in the UK, citizens would have to be taxed double what they already are. And It’s already been shown that the ACA flat-out doesn’t work—unless, of course, you’re a minority percentage of the population.

The solution? Mixing and matching. As it turns out, there are certain provisions in the US healthcare code which allow those who are covered to sort of “mix-and-match” between government and private provisions.


ACA has already expanded the burden of healthcare on US citizens dramatically. Unless those in the US plan on more than doubling what they’re already paying, they’ve got to look into solutions of this kind.


Recently, the topic that drew a lot of public attention in the US, is about the Obamacare Penalty changes since December. Apparently, people will still have to pay the Obamacare Penalty for not having health insurance in 2018. For more information on this topic check this article.

Make Your Choice

Here’s where things stand today: for the US to have a “socialized” healthcare system would require a massive hike in taxes—spending would have to be more than doubled to reach the same rate as the UK. As it stands today, the UK is going to cut your paycheck down  34% per $100k. In the US, the same tax comes at approximately $335k.

The question then becomes: be more dependent on the government, and have less money, but available health insurance, or conserve your resources and have less-effective healthcare, but greater personal freedom financially? This is quite the question indeed, and one about which many will have hot opinions for varying reasons.

The bottom line? There’s more comprehensive health coverage in the UK, but it ultimately costs the population more. There’s less effective health coverage in the US, but it also costs less.

Mobile Marketing Tips for Real Estate Agents

Mobile marketing isn’t optional. Your audience, no matter who they are, is on their smartphone pretty much all the time. Your business needs to be where your customers are, and if you’re sidestepping the importance of mobile marketing, your strategy is not going to be effective according to experts like the mobile app development firm Buildfire.

Mobile marketing provides you with extensive reach, it keeps you front and center for your audience, it builds loyalty, and it ensures that your messages are going directly to the people they’re intended for. People’s phones are always within their reach as well, so you’re never having to worry about losing a connection with your audience if you’re focusing on mobile marketing.

Mobile marketing is especially important for real estate agents and real estate professionals. The following are tips for real estate professionals who are either just starting their mobile marketing plan or want to change their strategy.

Text Messages

Mobile apps are excellent, but sometimes one of the most effective and also simplest way to market to a mobile audience is by text message. You know text messages are going to be seen, and often they’re opened immediately. This isn’t always the case with something like an email.

There are some different specific ways you can use text messages if you’re a real estate professional, including scheduling appointments or calls, updates on listings, offer updates, and links to properties.

With that being said, you do need to have people opt-in to receive this kind of messages from you, as is required by the FTC.

Mobile Apps

When it comes to mobile apps, there are a few different options for real estate professionals. One option is to use existing apps like Zillow, but a lot of realtors and agencies are instead opting to create their own app.

Your app can include information about agents in the company, directories of listings, and general content.

You can also use your app as a way to provide information and education to your audience, right at their fingertips. This fills a need for your audience, and it also keeps your name and your brand fresh in the mind of users.

Make It Responsive

Responsive design is especially important in the real estate industry because it’s so visually driven. However, a lot of businesses tend to think that responsive design just means that things are small on a mobile screen.

There’s a lot more to it than that.

Real estate professionals need to ensure they’re incorporating best practices of responsive design into their mobile marketing. This can include everything from images to video walk-through tours, as well as things like emails and inquiry forms.

Finally, another key element of a real estate professional’s mobile strategy has to be mobile ads. The idea of putting an ad in a magazine is no longer effective in the way it used to be. Real estate professionals should aim for cohesive branding across all elements of their mobile marketing from their texts and emails to their app and then ultimately their ads.

Embrace the idea of using not only paid online ads through Google AdWords and social media but also be innovative with the use of options like Facebook and Instagram Live videos, as well as Snapchat.

3 Famous Celebrities who went bankrupt

With the global economy still fluctuating and no signs of it getting stable this year, there are many individuals and organizations still facing financial woes and might be compelled to declare bankruptcy sometime or later. However, the surprising fact is that bankruptcy is an issue that is not only faced by the common people or small and large companies, but also by celebrities who are said to have earned in their career in millions!

The celebrities do manage to earn a fortune in a very short time, something that cannot be even dreamt by the average individual in his entire life. Despite making huge sums of money during their career in playing, acting or business, a good number of celebrities with household names are found to face financial ruin. This could perhaps be due to some consequences of wrongly taken decisions or lack of future work. Some celebrities are even said to have lost their homes because of non-payment of tax debts.

Three top celebrities who declared bankruptcy

  • Donald Trump: The current president of the United States, Donald Trump was popular for his famous hairstyle, self promotion and high profile romantic exploits. His business is said to have declared bankruptcy between 1991 & 2009 for about six times! He had inherited his father’s real estate family business. He created a fortune by developing large apartment complexes and single family homes, casinos, resorts, golf courses, media productions, luxury residences and much more. With real estate business witnessing downturn during the early 90s and mid to late 2000, he had filed for Chapter 11 Bankruptcy.
  • Mike Tyson: He is one of the most popular boxers who had won the admiration of both the young and the old for his fighting prowess and spirit. Nicknamed ‘Iron Mike’, he entered the frame during the early 1980s and won the WBC heavyweight championship title at an early age of 20+ to become the youngest boxer to get to this mark. He also had a remarkable record of 26 wins from 28 fights by knock-out! During the initial 18 years of his career, he earned over $400 million. But tiffs with the law and his ill fated comeback fight only made his bankrupt in 2003.
  • Nicolas Cage: He is regarded to be Hollywood royalty and has blood relations with some of the prominent Hollywood directors and actors. He found success in acting and won several awards. He earned a fortune between 1996 & 2011, but due to lavish spending and legal troubles caused him to declare bankruptcy.

The above are the top personalities who had declared bankruptcy.

The Biggest Mistakes Small Business Owners Make

Owning a small business can be incredibly rewarding. People generally start businesses they feel passionate about, and it gives them freedom and opportunities to grow that they might not have working for someone else.

At the same time, small business ownership is full of challenges, and as many good times as there might be, there are also bad ones that you have to weather.

You can’t protect yourself against everything as a small business owner, but recognizing common mistakes can help you combat them. The following are some of the biggest mistakes made by so many business owners.

Not Choosing the Right Entity Structure

According to Anderson Advisors, when you’re starting a new business, at the very least you should form an LLC, but this is something a lot of new business owners don’t do. Your business entity may change as it needs to over time, but you should have a minimum level of protection in place.

If you don’t start a business and structure it as an LLC, it can have adverse tax ramifications, but it could also leave you personally liable if you were to be sued as an example.

Setting up the right entity structure isn’t as complex or time-consuming as you might think, and it gives you an advantage in your business from the start. When you don’t choose the right entity, it can cause some problems as well.

For example, you might be putting yourself at risk of facing legal problems, or you may find that because of the entity you selected, it’s challenging to raise capital.

Skipping Research

If you’ve ever seen two businesses that seem pretty similar, except one is successful, and one is not it could boil down to a lack of research and planning. A small business run simply on a good idea alone isn’t likely to be sustainable.

Decision-making at every level needs to be based on data and research. Customers need to be carefully targeted so marketing dollars aren’t wasted. Businesses need to be able to point to why they made the decisions they did, at the time they did. Taking time out for the research is pivotal.

Not Knowing the Numbers

Business owners tend to be big thinkers, and they also tend to be creative, innovative and energetic. These are all great qualities, but sometimes this doesn’t translate well to accounting and understanding the numbers.

Not knowing the numbers of your business or taking a hands-off approach in this area can be irreparably damaging.

If you don’t know what’s going in terms of accounting, you’re not going to know how to be strategic in your objectives. If you outsource your accounting make sure you’re always communicating with the person who handles it for you.

Making Big Purchases Early On

Finally, you’ve started a new business, and you’re understandably enthusiastic. Unfortunately, that’s probably not the right time to make a big purchase unless it’s absolutely necessary.

A lot of startups will make the mistake of investing in an expensive new office space, or the newest technology as an example.

Business owners need to take a step back when they feel the urge to do this and think about whether or not it’s going to help grow revenue. In the early days of a business that has to be the primary objective.

Hints and Tips for Paying Off Your Student Loan

Debt is a reality for most students today. However, it doesn’t have to remain your reality for years to come, as there are lots of ways to get to the point of being debt free that little bit faster.

Budget for the repayments

If your student loan payments aren’t being taken directly from your salary then make sure that they form part of your monthly budget so that you don’t miss them.

Make sure you know exactly how much you owe

You may have a rough figure in your head in terms of how much you borrowed and what you know the interest rate to be. However, the reality of the debt that has been accrued could be rather different. It’s very easy to miscalculate or overlook certain fees or interest rate rises. So, when it comes to paying off your student loan start by establishing exactly how much you actually owe.

Begin making repayments straight away

There may be the option to delay the first repayments but, unless you have a very good reason for doing so, it’s better to start reducing the debt now. The earlier you begin repaying your student loan, the sooner the total will be cleared.

Live below your means

The first few years after graduation may be fairly tight on the finance front but if you’re able to live below your means then you can apply more of this cash to paying off your student loan. Being frugal now will give you a much wider range of choices in the future when you’re debt free.

Overpay as often as you can

Get into the habit of applying any spare cash that you have towards an overpayment on your student loan. If you get into this mindset early on then it won’t become a battle between spending the additional money on luxuries or applying it to reducing your debt.

Be prepared to go without

If you want to create room in your budget to make loan overpayments then you may need to make some initial sacrifices to do so. Expensive mobile phone contracts, entertainment systems, going out with friends, travel and clothes, for example, may not be possible for the first couple of years. However, once you’ve cleared that student debt then everything that you earn is yours to spend, whether you want to buy a home or travel the world.

Consolidate your debts

If you have several different student loans then you might be able to consolidate these into one. This not only makes repayment easier, as you have only one debt to think about, but also gives you the opportunity to reduce how much you pay overall. Look for a consolidated loan with a reputable loan company and with a lower rate of interest than you’re currently paying on most, or preferably all, of your existing loans.

Stick to the plan

Once you’ve made a plan to clear your student debt then stick to it – clearing debt requires ongoing commitment not to take on new debts or re-spend old ones.


Top 7 eCommerce Trends for 2018

For years, everyone has been saying that ecommerce is the future. Well, the future is finally here now that 2018 has arrived and we’re only two years from 2020. Ecommerce and dropshipping business models like Oberlo may once have been popular only amongst millennials, but things are different now; 51 percent of Americans prefer online shopping these days.

As anyone invested or interested in ecommerce knows, the industry is always changing, and 2018 is promising to bring some huge, exciting trends our way.

1 The use of Artificial Intelligence (AI)

 AI has already been making huge strides in the ecommerce world, but its impact is only going to increase in the new year, especially when it comes to customer service chatbots becoming more widely implemented. According to James Gurd, owner of DigitalJuggler, “In 2018 we’ll see more companies investing in chatbot services to automate part of their customer service process. The market for chatbots and automated customer service is growing; a Business Insider survey reported that 80 percent of businesses expect to have chatbot automation implemented to some extent by 2020.”

 2 On-demand commerce

If you’re a big user of ecommerce platforms, then you’re going to love this trend, since on-demand commerce is all about getting what you ordered super fast. Think Deliveroo or Seamless, but for non-food products; Amazon Prime Now is already making such a service available to certain parts of the country to tremendous success. 42 percent of American adults already use on-demand commerce — almost half the population — and with more vendors joining the movement every day, there’s no doubt this sector will grow in the new year.

 3 Brick and mortar integration

 Sure, ecommerce may be the most popular way to shop now, but that doesn’t meant that brick and mortar storefronts are totally outdated. Instead, brick and mortar stores are finding new ways to cooperate with with their online counterparts in order to bring the best of both worlds to a variety of shoppers. After all, 50 percent of millennials actually prefer going to physical stores at a certain point in the buying process or for specific needs and services. So for example, you’ll see more clothing stores offering online sales but in-person tailoring and fitting services at their storefront.

 4 More mobile spending

 If you’re one of those people who prefers to go on Amazon.com than use the Amazon app, it’s probably because you’ve come to expect the all-too-common reality that apps are usually not as streamlined and intuitive for buyers as websites tend to be. In 2018, however, you should expect that to change. Considering we spend over 4 hours a day on our smartphones and you can even store a digital wallet on your device, it only makes sense that ecommerce stores are going to start perfecting their mobile-based shopping experiences. So make sure you update your phones this year and save storage space for all the most up-to-date apps.

 5 Personalization

 Ironically, even though this is one of the biggest trends in ecommerce this year, it could also be argued that personalizing the ecommerce shopping experience is one of the greatest challenges of the industry. Fortunately, challenges drive innovation. According to Merehead, many clothing and accessories shops are finding personalization solutions, for example the “e-commerce lenskart website… created awesome augmented reality application that allows you to екн on glasses on your face in a real-time. This small app was downloaded [by] more than 5 million people and provided thousands of new sales.”

 6 Voice shopping

Considering the rise in the use of smart home technology and digital assistants such as Amazon Echo and Google Home, more and more ecommerce orders are going to be made by voice command in 2018. Virtual, digital assistants will overtake the world population by 2021, and according to Micha Kaufman, CEO of Fiverr, “The rise of personal assistants has absolutely increased engagement, and as more consumers become comfortable with the process, more will rely upon the technology to accomplish everyday tasks, including purchasing.”

 7 Video content

 When it comes to marketing ecommerce platforms to the rest of the world, video content is going to take over. It’s been estimated that, by 2020, video will make up 80 percent of all online consumer Internet traffic. Why? Well, it’s one of the best ways to get attention online these days, especially with the highly ad-averse generations of Millennials and Generation Z. They’re more likely to read a blog post if it’s partnered with video content, so expect the number of videos in your Facebook feed to go up this year.

In conclusion

 Lots of changes are coming to ecommerce in 2018 and the years to come, in large part due to all the technological advances that have been made in the past few years. Whether you’re passionate about the subject as a consumer or as an entrepreneur looking to invest in new TrustToken cryptocurrency and incorporate blockchain tech into your online business, staying tuned to the changing landscape of the ecommerce world.

What ecommerce trends are you excited about this year? How do you think they’ll change our lives?

Heres why you should start your new groupspaces site in 2018

Now that 2018 is finally here, it’s time to make some changes. You’ve got all your resolutions written out, you’re balancing family, friends, and career, and you’re eating healthier, even if it’s a bit of a struggle after two weeks of festivities and drinking and consuming whatever you wanted. But one of the things you’ve been thinking about doing–and to be honest, every new year, you have the same idea–is starting a group site.

Whether you’re a mom working from home and passionate about sharing your productivity strategies with other working moms, or you’re interested in finance, helping other people find the best credit cards and credit repair methods–creating a group is a great way for you to share what you’re passionate about with people who share those interests. It’s the perfect time to start a group with GroupSpaces, and here’s why:

1 Sending email newsletters is easy

 Knowing how to send emails that people are most definitely going to read is one of the most important skills anyone can have online. For example, did you know that personalized email messages, according to Aberdeen, improve click-through rates by an average of 14 percent and conversions by 10 percent? So if you’re writing engaging, exciting content and using all the right strategies that GroupSpaces offers, you’re sure to get a lot of new members in this new year. How?

Well, first of all, GroupSpaces makes it easier for you to send email newsletters. They integrate the email sending feature with all the other features, which means you won’t have to keep your email system separate from the group home or members list. And with most of the pricing plans, you’ll also get email statistics, which can help you easily keep track of what is and isn’t working in your email campaigns.

Additionally, while some simpler group sites may only allow you to create one email list for your entire online group, at GroupSpaces, you’ll be able to create multiples. Whether you’re dividing your lists into teams or subgroups, it’s much easier to get organized with GroupSpaces. For more information on how to email your members directly, take a look at this post from their website.

2 Signing up is simple

 Once you’ve gotten some people interested in your group, the next step is getting them signed up as members. If you were running your own site online instead of using the GroupSpaces interface, then this could result in a large number of logistical complications. For example, if you’ve got 100 membership requests a day, it’s going to be quite a challenge to keep track of them and ensure on your own that you give them access to your blog or website, even if you’re one of the 89 percent of Americans who check their email at least once a day.

With GroupSpaces, it’s super simple: you can accept new member sign ups via an online form. You don’t need to wait to receive an email, then add that email to the list of people already in your group. Instead, it’s simple and automated, so you can spend more time on your actual group events and discussions rather than focusing your energy on signing someone up the second the notification appears in your inbox.

3 Organizing events is easy

 When it comes to running groups successfully, being able to create in-person events is incredibly important. After all, what could be more community-oriented than connecting with people online and then being able to meet them in person, shake hands, and finally match a face with the person behind the screen? If yours is a group about emerging trends in cryptocurrencies and blockchains, then it makes sense to have your event in a downtown bar; if you’re a group of outdoors enthusiasts, then a picnic in a national park makes the most sense.

Wherever you decide to organize your events, GroupSpaces makes the entire process simple. Unlike many other online group sites, you can actually organize events for GroupSpaces via Google or Facebook, since they can be integrated together. It’s especially useful considering that Facebook has 2.07 billion monthly active users. And when it comes to selling tickets online and sending invites, GroupSpaces can simplify that process, too.

Additionally, when it comes to online meetings–such as forums and email discussions–GroupSpaces makes it easy for you to host. You’ll be able to keep everyone connected by sending out newsletters and creating email discussions with everyone on your email list. To learn more about how to create a dynamic conversation in your emails, take a look at our support team’s explanation of how it all works here.

If you’ve always wanted to start a group–why not start the year off right by starting your group site with GroupSpaces in 2018? We’ve got many different plans and prices that you’re sure to find something that works for you. So take a look at your options, choose what’s best for you, and start that online group you’ve always dreamed about creating.

What online group site have you always dreamed of building?

What Business Travelers Should Know About Taxes and Deductions

The idea of expense management when you’re a business traveler can get complicated, and the same goes for employers who are always working on ways to stay on top of expenses and maintain a sense of control and visibility.

Luckily a lot of companies are making it easier on their employees and their finance teams through the implementation of expense management software with features such as mobile apps to manage receipts and expenses on the go, but there is still another issue business travelers face. That issue is how to deal with taxes and deductions.

The following are some things to know for business travelers, and understanding tax deductions and issues from the standpoint of the employee can also help employers better meet their needs and provide them with the tools and resources they need.

What is Classified as Business Travel?

First of all, travelers and their employees should know that the term business travel is a specific one, and the IRS outlines it.

What does the IRS mean by business travel, at least from their own perspective?

It’s a reference to travel away from what’s considered an employee’s tax home that’s “substantially” longer than a day’s work. Business travel as far as the IRS is concerned also requires that the individual is sleeping or resting while they’re away for work and that sleep or rest can’t be done at home.

Employers and employees should differentiate between a home and what a tax home may be. According to the IRS, your tax home is where your primary place of business is, but this doesn’t mean it’s where your house is.

Types of Travel

There are different IRS guidelines on deductions depending on the type of travel.

For example, if you’re planning on going to a convention, you may need to show that it is directly related to your work, and if you’re going to an event aboard a cruise, it can be tough to prove that this should be a deduction.

For some finance teams in big companies, they may already know the IRS guidelines so they can send employees on trips that are going to be tax deductible for the organization, but it can be a bit trickier if you’re a business traveler who’s not being reimbursed for something, but you’re looking for deductions.

Are Expense Reimbursements Income?

Another question a lot of frequent business travelers have is whether or not expense reimbursements are counted as income.

Whether you’re an employee or an independent contractor, you do have the opportunity to deduct certain business expenses, but if you’re reimbursed, you can no longer do that. However, are reimbursements taxable income?

Generally they aren’t, as long as you can prove that you were reimbursed for a legitimate business expense. When you’re reimbursed, you don’t need to claim, but an employer can claim it as a deduction on their own return.

Finally, this again relates to expense management software and its importance in the modern workplace, not just for employers but also for employees.

It makes it easier to keep track of expenses and reimbursements to make sure taxes are filed correctly. If an employee doesn’t have the necessary proof the reimbursement was a business expense, the IRS may ultimately add it to the employees’ taxable income.

5 Financial Errors You May be Making

What do you see when you look at your financial situation as a whole? Do you have concerns that you are making mistakes that will hold you back in the future? Are you willing to change your ways if it will put you in better position for financial success?

Here’s something to remember: everyone makes mistakes every now and again. No matter how hard you try to stay on track, you’ll eventually run into a financial error that stops you dead in your tracks.

Here are five financial errors that are incredibly common, but should be avoided as much as possible.

  1. Too Much Credit Card Debt

It’s easy to take on credit card debt, as all you have to do is pull out your plastic and make a purchase. It’s even easier now, with the number of online vendors like JUUL, Amazon, Jet.com, and many others, most of which will allow consumers to save their credit card information for more streamlined purchasing in the future. Unfortunately, all those small purchases have a way of adding up.

Get this: Fox Business notes that in the United States, the average household has roughly $16,000 in credit card debt.

If you’re carrying a credit card balance, look for a way to eliminate this as quickly as possible. Once your debt is gone, it will feel like the weight of the world has been lifted from your shoulders.

  1. Not Enough Retirement Savings

According to Forbes, nearly half of Americans are at risk of hitting retirement age with no savings to retire with. This is a problem on many levels, and sadly many people will not be able to retire when they want to.

If you don’t have enough money in retirement savings, now’s the time to take a hard look at your past mistakes and missteps. This is the only way to alter your plan and achieve more success in the future.

  1. No Emergency Savings

It’s easy to believe that nothing bad will ever happen to you, but that’s just not reality. You never know what the future could bring, and without an emergency savings, you could find yourself in a tough financial spot down the road.

According to CNN, the majority of Americans don’t have even $500 in savings. If you’re part of this group, do whatever it takes to stockpile some cash in an emergency account.

You may never use it, but it’s nice to know that the money is there if an emergency comes to light when you least expect it.

  1. Overspending on Dining Out

There are a lot of people who enjoy dining out; not only is it convenient, but it’s also quite a bit of fun. Unfortunately, dining out is also expensive. According to The Simple Dollar, the average person spends $232 per month on eating on-the-go.

Tip: keep track of how much you spend on dining out over the course of one month. Once you have this number in hand, you may realize you need to change your ways. It can be shocking to see just how much we spend on junk food!

  1. Spending Too Much Money on Rent

There is nothing wrong with wanting to spend money on a nice place to live; however, there does come a point when you could be overspending on rent.

According to Apartment List, fewer people are renting in the majority of large cities in the United States. In other words, now may be the time to think about buying a home. This isn’t the right decision for everyone, but it could be a decision that allows you to save money and build equity over the long run.

Final Thoughts

No two people are exactly the same, meaning that the financial errors you have made in the past may not affect someone else in the same way. Even so, the five errors detailed above are extremely common. If you find yourself bogged down by one or more of these, you don’t have to continue down the same path in the months and years to come.

You can change your ways by learning more about credit repair, creating a budget, and making lifestyle adjustments as you see fit. It doesn’t matter if you are a retiree, a law school student searching for ways to fund your education, or a single parent, the more errors you avoid, the better you’ll feel about your finances.

What are your thoughts on these common financial errors? Do you have what it takes to avoid these in the future? What steps will you take to stay on track? Share your personal thoughts in the comment section below.

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