KAFE This Morning

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The foolish money mistakes we all make

Even the most thrifty person can admit to making a foolish spending decision once in a while.  We’re human. A new poll finds 52 percent of us think that purchasing things that aren’t needed ranks as the most foolish financial mistake. Others include:

Not using coupons as much as I should – 26 percent

Only making minimum payments on credit card each month – 22 percent

Overdrawing my bank/checking account – 21 percent

Loaning large sums of money to a friend or family member that wasn’t paid back – 18 percent

Making late payments on credit cards – 17 percent

Making late payments on basic bills like insurance, utilities and rent – 15 percent

Not having adequate insurance coverage – 10 percent

Not knowing what my credit score is – 10 percent

Borrowing large sums of money from a friend or family member that I couldn’t repay – 6 percent

Co-signing on a loan that was defaulted – 7 percent

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