Spending more than you earn guarantees debt and financial misery.
Credit card debt with high interest rates can trap you in a cycle of interest payments, making saving and investing difficult.
Impulse purchases can quickly deplete your savings and leave you without money for your goals.
Not having a budget can lead to overspending and financial chaos.
Spending more as your income rises might trap you in a cycle of financial insecurity.
Saving all your money in low-yield savings accounts and not investing can limit your wealth growth.
Neglecting retirement savings may leave you without enough money to live comfortably in retirement.
Unexpected health, house, and auto expenses might come from inadequate insurance.