The Twelve Biggest Personal Finance Mistakes People Make Over and Over Again
The Twelve Biggest Personal Finance Mistakes People Make Over and Over Again
Trent Hamm Founder & Columnist Last Updated: August 13, 2020
As I’ve mentioned before, I get tons of email from people describing the personal finance problems in their lives, commenting critically on things I’ve written, and offering up their own stories of success. Not only that, as The Simple Dollar has become more and more popular, I’ve had more and more opportunities to talk about personal finance with people face to face.
What amazes me is that I see most of the same problems pop up time and time again. Sure, the specifics of the story change, as do the severity of the situation, but these same twelve items come up in almost every story I hear about financial problems. Even worse, quite often multiple items from this list appear in the same tale of woe.
I’m not immune to them, either. At the time of my own financial meltdown, I was guilty of the majority of these things. It was only due to a commitment to fixing my financial situation that I was able to overcome these mistakes and set them right.
Here they are, the twelve biggest mistakes I witness and hear about time and time again.
Concern rarely extends beyond the next paycheck or two.
These are the people who live from paycheck to paycheck. Their next paycheck or two will cover the immediate bills. If there happens to be some money left over, it’s spent on frivolous things. These are the people who are constantly hitting the ATM to check their debit card balance so they know how much they have to spend or the people who juggle credit cards that are maxed out. The only thing that matters is the next paycheck and the brief breathing room that it provides.
What’s the solution? The best way for people in this situation to begin to escape is to set up an automatic savings plan of some sort. The automatic savings plan would scrape a small amount of money out of that checking account each week and put it somewhere safe. The point isn’t so much to build up savings (although that’s very useful and valuable), but to slowly wean yourself from spending everything that you bring in.
Only one person in the family knows where the money goes.
Most families have one person that’s largely in control of managing the money – and that’s fine. It can be very useful to have a family “accountant” – a person that manages the checkbook, makes sure the bills are paid, and so on. This can actually be a very good thing, particularly if one person in a family is particularly detail-oriented.
The problem occurs when this leads to financial atrophy in the family, where no one but the person running the checkbook knows where the money goes or is involved in the decision-making process. While it can be very easy to just let that person run things, it can be very dangerous, too. That person might not be saving appropriately for family goals, might be leveraging credit card use in order to allow everyone to keep spending as they are, and so on.
What’s the solution?
To continue reading, please go to the original article here:
Ariel: The Great Revaluation, the Trifecta that Ends Bretton Woods Forever
9-23-2026
The Great Revaluation — $600 Silver, $10K Gold, and the Iraq-XRP-XLM Trifecta That Ends Bretton Woods Forever
The $600/$10K Anchor Is Not a Guess — It’s a Solvency
That “$600 silver / $10,000 gold” figure didn’t come from some Telegram hype channel. It came from the balance-sheet math that Treasury can’t say out loud yet. Here’s what nobody on the internet are talking about.
Bruce’s Big Call Dinar Intel Tuesday Night 9-22-26
Transcribed By WiserNow Emailed To Recaps (INTEL ONLY)
Welcome everybody to the big call tonight. It is Tuesday, September 22, and you're listening to the big call. Thanks everybody for tuning in. We had a lot of fun in the pre-call that is not recorded, but those of you who were on the call early caught a little bit of Sue and Bob and my discussion about dancing and that kind of thing. So, yeah, yeah, it was fun. So, welcome everybody. Glad you're here tonight.
All right, let's get into the intel. Enough about apples. Let's get into where we are on the intel right now. Okay. As you guys know, I like to modify our timeline, make sure we're still on track.
Good Afternoon Dinar Recaps,
U.S. PAYMENT RESET WATCH: FED PROPOSES CONNECTING FEDNOW TO CROSS-BORDER PAYMENTS
The Federal Reserve is proposing a regulatory change that could allow U.S. banks to use FedNow for the domestic portion of cross-border transactions while intermediaries handle the international leg.
Stephanie Starr: The Gold and Silver Reset, Follow the Math
9-23-2026
Hear me out you guys….
THE $10,000 GOLD / $600 SILVER “RESET” — FOLLOW THE MATH
That new U.S. Debt Clock graphic caught my attention, so I started working backward from the numbers. And this gets interesting FAST.
Coffee with MarkZ, joined by Mr. Cottrell and Zester. 09/23/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: We have a packed podcast this morning. The Codeman joins us today instead of Friday and then Zester to unpack the wild swing in crypto.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Emailed to Recaps~ Thank you David
Reset Intelligence: Washington Puts a Price on Dollar Access.
By Reset Intelligence | @EXIT_FIAT
Bessent said the sentence: fuel an Iranian jet, land it, or sell it a ticket, and you are knocked out of the dollar system. At midnight it became the rule.
Riyadh quit China's payment rail. Baghdad rationed its own dollars. Tehran walked into the UN and asked for its accounts back.
Ariel: The “R” Word, are you Ready for the Other Side of this Game?
9-23-2026
The “R” Word?
Say it isn’t so?
Are you saying it’s not a myth?
Are you saying it’s not guru rumors?
Who Is Running The Iraqi Economy? A Series Of Decisions Are Being Made, And The Market Is Paying The Price For The Lack Of Vision.
Last updated: September 22, 2026 In Iraq in recent weeks, questions have been escalating regarding the management of economic and monetary files, with a succession of decisions and measures affecting the banking sector, financial transfers, liquidity, the exchange market, and the movement of funds, at a time when an informed economic source believes that some of these decisions were taken amid the absence of an integrated economic vision or a sufficient explanation of their repercussions on the market.
Good Morning Dinar Recaps,
U.S. PAYMENT RESET WATCH: BANK-ISSUED STABLECOIN GOES LIVE ACROSS MASTERCARD'S $25 BILLION CARD PROGRAM
SoFi Bank and Mastercard have moved bank-issued stablecoin settlement from development into live operation, connecting blockchain-based money movement with an established global card network.
"Chuck The Debt In The Fire" Is Officially A Real Solution
Notes From the Field By James Hickman (Simon Black / Sovereign Man) September 9, 2026
It's so simple, how could no one have thought of this before? The man currently polling in second place to become the next President of France has put forward an ingenious solution to tackling France's national debt, currently standing at around 117% of the country's GDP.
Jean-Luc Mélenchon says, "All we have to do is take the 18% held by the Bank of France and chuck it in the fire."
MilitiaMan & Crew: What’s Happening with the Iraqi Dinar? Daily News & Analysis
9-22-2026
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
Follow MM on X == https://x.com/Slashn
KTFA
Tuesday Night Video
FRANK26….9-22-26….RATE ASSUMPTION FIGURES
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
CBI currency sales drop $18.5B in eight months
2026-09-22 Shafaq News- Baghdad The Central Bank of Iraq's (CBI) foreign currency sales fell 34.5% year-on-year to about $35.27 billion in the first eight months of 2026, down from roughly $53.83 billion during the same period in 2025, according to CBI data. The CBI sold about $3.697 billion in foreign currency in August, including $270 million in cash sales and $3.427 billion to boost banks' balances abroad.
Gold’s Investment Case Has Fundamentally Changed, And Rising Yields Are No Longer A Dealbreaker - FTSE Russell’s De
By Neils Christensen (Kitco News) - Rising bond yields are creating a significant headwind for gold, but investors should be careful about applying the precious metal’s traditional relationship with interest rates too rigidly, as structural changes in global demand continue to support elevated prices, according to FTSE Russell.
Why Is the U.S. Dollar the World's Dominant Reserve Currency?
September 01, 2026 By Scott A. Wolla
What do you think of when you hear “U.S. dollar”? Is it the cash in your wallet, the balance in your bank account, or the price of a gallon of gas? In these and other examples, the dollar performs the basic functions of money. This is true in the U.S. and in countries around the world, whose governments, central banks, businesses, and investors use dollars to buy, sell, borrow, and lend. The dollar is integral to the financial “plumbing” of the global economy and is the world’s dominant reserve currency.
"It Will Be A Weekend Event" | Bill Holter
Liberty and Finance: 9-21-2026
Bill Holter warns that today’s debt and derivatives-driven financial system could be approaching a breaking point.
He argues that rising interest rates are exposing vulnerabilities across Treasury markets, sovereign debt, and the global financial system.
KTFA:
Henig: IMO: Very interesting.
Digital transformation widens market reach for Vietnamese goods
September 18, 2026 - 14:07
E-commerce and livestreaming are reshaping how Vietnamese craft villages, co-operatives and businesses connect with consumers, cutting distances between producer and buyer without eroding traditional values.
Why Gold Prices Could Keep Rising Despite High US Yields And Interest Rates
Analysts expect gold prices to continue rising into 2027.
Updated Sep 21, 2026, 05:56 PM
Gold prices are expected to rise through 2027 despite high US interest rates and bond yields, driven by central bank purchases and concerns over US government debt.
Central banks, especially China, have increased gold buying significantly, with global purchases nearly doubling pre-2022 levels, supporting gold as a safe asset against financial crises.
Good Afternoon Dinar Recaps,
INDIA LIQUIDITY RESET WATCH: RBI DRAINS BANKING SYSTEM CASH AS BOND SALES AND FX SWAPS RESHAPE THE RUPEE
India’s central bank is rapidly absorbing excess banking liquidity as bond sales, foreign-exchange swaps and rupee management begin reshaping conditions across the country’s financial system.
Andy Schectman: Central Banks Are Preparing for What Comes Next
Liberty and Finance: 9-22-2026
Andy Schectman warns that rising interest rates may no longer be hurting gold the way conventional market wisdom suggests, as central banks continue accumulating physical metal and Comex deliveries remain strong.
He says the growing pressure on U.S. Treasuries, rising diesel and oil costs, and limited options for central banks could create a dangerous environment of inflation and financial volatility.