Spending More than You Earn - This one might seem like a no-brainer, but in households with more than one income, the perceived amount of money you have may be less than you think. Not sticking to a budget can make it easier to spend on frivolous items without accounting for the bills and other expenses that should have been secured first.
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Many people live off of credit cards and believe because they are making the minimum payments, they can afford it. Be realistic with yourself and know what you can afford before you make purchases. Even small expenditures can add up to big debts in the long run. Use free software or online programs to track your spending, and create a budget to see what you can afford to save and what can be used for "fun" purchases.
