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Funderburk Financial

Five Financial Moves to Avoid

by Billy Funderburk, CFP®, MBA

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual.

  1. Not Saving Enough – The best investment advisor cannot help you when you do not save enough money. If I had to pick just one move to avoid, it would be this one. All of the financially well-off people that you know have one thing in common; the ability to delay gratification.

  2. Carrying Credit Card Debt – Have you noticed the interest rates on your credit cards? There is nothing that will make you feel more financially strapped that having significant credit care debt. I should also point out that this one also relates back to being able to delay gratification. Hum.

  3. Having No Plan – Many people go through life struggling to pay bills and never sit down and make a plan – any kind of plan – to help get their financial house in order. How does the saying go? Failure to plan is planning to fail.

  4. Keeping Up With the Jones – I’ve noticed that one of the most common reasons that people have trouble “delaying gratification” is their need to keep up with the Jones. We tend to think that our friends judge us more than they actually do based on our “visible” financial wealth – or the appearance of wealth. This move will keep you deep in debt.

  5. Psyching Yourself Out and/or Obsessing Over Your Investments – Whether you tend to avoid financial decision because they intimidate you or perhaps you over think your investments, you may be guilty of my final financial move to avoid. This one can be overcome by having a plan and sticking to it. Also, you may need to hire a competent financial advisor and, yes, actually listen to them. Hum, again.