Hi All,

This is another video on personal finance mistakes. I like this one because it features a hapless guy in the midwest named Gary. Gary is awesome not for his financial management skills – which are exceedingly poor, but for what Gary can tell us about how NOT to do finances.

In this video, Gary explains his frustration with the over $500 in bank charges from his payday loan borrowing.

After watching the video you may have a different opinion, but I think this clip shows what happens if you borrow heavily from payday lenders.

Best,

James

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1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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