Money Magazine ( Money logs )

Managing money is one task each and every one of us is confronted with on an everyday basis. Most often it is seen that one works very hard, earns well, splurges and then there is hardly anything left for the proverbial rainy day. This vicious cycle continues and when an emergency pops up, one is left to face the ugly truth that you may be broke. In such a situation it would be worthwhile to consider what are some of the bad financial habits that makes one go broke. Being financially independent doesn't mean earning alone, it means using your money judiciously and at the same time making money work hard for you.  

Your money and your finance need your intelligence to stay afloat. You need to be super careful with your finances from very early on in your life. Finances, they say needs to be handled with care just as you care for your loved ones. After all it is a materialistic world. It is however seen over decades that there can be some very basic mistakes that people make when it comes to handling their finances. Below are enlisted the six fearful and catastrophic financial mistakes that you can make Did not save money when you were in your prime : Yes, you have been bright and life has been kind to you. You have had the most fantastic time building your career and things have been working just fine for you. When the going is good, we tend not to think about saving for the rainy day. This could be a fatal mistake from your end. Just when the tables may turn for you, it is very difficult to predict. Hence, be prudent about your savings.