Photo by NeONBRAND on UnsplashI\u2019m not one to say the sky is falling AT ALL. But I am a realist, and considering the headlines and the current financial climate, I think it\u2019s important to look at the mistakes of the past and avoid them in the future.No matter what happens with the economy (now or ever), there are absolutely zero penalties for being financially prepared!So, what is the current state of the economy? Well, the S&P 500 at historic highs- it\u2019s actually at the highest it\u2019s been in 18 years. Simultaneously, interest rates are the lowest they\u2019ve been in 3.5 years. This is making a lot of people nervous because these are usually indicators of a coming correction to the market. But there\u2019s really no need to worry if you take steps to prepare for any financial swing. And to do that, it\u2019s important to look at the mistakes people made in the past. So here are my top 5 mistakes that people made before the last recession.1. Living on creditWhat we saw leading up to the recession was people using home equity to fund their lifestyle. This was a huge mistake because when the market crashed and their home equity was gone, they had a ton of debt and nothing to secure it with.It\u2019s so easy to fall into this trap- I\u2019ve seen it so many times, and because of that, I developed the Smart Budget Guide (which you can download for free HERE) to help give people easy parameters to help them set up their finances and stick to a budget.So what are those parameters to help keep you away from living on credit? You need to budget for 70% of your net take-home pay to go towards your living expenses, and of that, your housing payment should\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Photo by NeONBRAND on UnsplashI\u2019m not one to say the sky is falling AT ALL. But I am a realist, and considering the headlines and the [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/3866"}],"collection":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/comments?post=3866"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/posts\/3866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/media?parent=3866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/categories?post=3866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/fr\/wp-json\/wp\/v2\/tags?post=3866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}