#5 – Having High Car Payments
Another typical financial mistake people make is buying an expensive new car. You probably know that a car is an asset that starts to quickly depreciate as soon as you purchase it. After a few years, your car will lose a lot of its value, and chances are you’ll still be paying it off. This is why you should definitely consider buying a pre-owned model, as it will help you minimize your outgoings, with the car not losing as much value.