Watch Out for These 5 Financial Pitfalls

Mistakes happen, but you can help avoid many of them with careful planning. The trick is to identify where your troubles may arise, and to take appropriate action before a small hiccup takes a turn for the worse.

Of course, you may consider consulting a personal finance professional for advice specific to your situation, but here are five common pitfalls to avoid:

1. Living Without A Budget
2. Carrying Credit Card Debt
3. Forgetting To Check Credit Reports
4. Failing To Save Money
5. Out-Of-Date Insurance Policies, Wills And Retirement Plans