In the United States, financial education is not required in every state. So there are millions of people out there who never learned how to properly take care of their finances. And even when they think they’ve got it all under control, common mistakes happen to people again and again. These are the 30 biggest money mistakes you can ever make, and how to avoid them.
30. Don’t Withdraw From Your 401K
The whole point of a 401K is to save it until you are ready to retire. If you withdraw early, there are typically penalties. In the long run, you are only hurting yourself. Sometimes, you may run into a situation where it is truly an emergency, and you need money right away. Before you break open your 401k, try to see if you have any other option, because if you begin to make a habit of dipping into your retirement savings, there will be nothing left.