5 Money Mistakes That Are Secretly Keeping You Poor

Many middle-class families make common money mistakes like prioritizing spending over saving, getting caught in the EMI trap, and avoiding insurance.

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Middle-class family money mistakes

For many middle-class families, expenses are ready as soon as the salary comes. But saving is often an afterthought, which is a huge mistake. Savings should be a priority, not a leftover.

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The Illusion of the EMI Facility

Life without EMIs is unimaginable now. Thinking "it's just a small amount per month," many get trapped. These EMIs add up, eating a huge part of the salary and reducing financial freedom.

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Saving and Investing Are Not the Same

Many think keeping money in a bank makes it grow. But savings are just for safety; inflation lowers its value. Investing puts your money to work. Not knowing this is a big mistake.

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The Danger of Avoiding Insurance

Thinking "nothing will happen to me" is common, but life is unpredictable. Health and term insurance are seen as needless costs, but they're a safety net. One emergency can wipe out years of savings.

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Forgetting About Income Growth

Many focus on cutting costs, but that has limits. The long-term solution is increasing income by learning new skills or finding side hustles, which is often overlooked by families.