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  • Emily Friday

How to be Financially Savvy | 4 Money Mistakes to Avoid

It's all very well knowing what not to do in terms of your finances, but what about what you should be doing?

In this week's blog post, we've outlined the 4 ultimate money mistakes to avoid, along with their counterparts on how best to combat them..⁠.

Keep reading so you can apply these techniques in order to be your most financially savvy self!

1) Dipping Into Your Savings ⁠

Instead of continuously dipping into your savings every month (because let’s face it - it’s far too tempting when it’s right at your fingertips!), start investing - and do it regularly.⁠

Not sure where to start? Check out this handy beginner’s guide to investing from HSBC bank for all you need to know.

If you’re hesitant to start investing in the stock market and don’t quite fancy yourself as the next Warren Buffet, fear not! You can also invest into your pension pot, retirement fund, your education. Making investments into these now will allow you to reap the rewards later on (and help keep your savings where they should be).

⁠2) Going Over Budget ⁠

Instead of going above your budget - even if it’s only by a couple of £’s - start diversifying your income!

This doesn’t just have to mean tightening your budget. In fact, one of the best ways to diversify your income is by starting a side hustle alongside your usual 9-5. And it doesn’t have to take over your weekends!

If you’re the creative type and have artistic pieces lying around, why not try selling on Etsy? You could also make some money from your unwanted clothes on Depop or Ebay, or even spend an hour of your weekday evenings filling out some online surveys.

The options are endless!

3) Spending More Than You Earn

Instead of spending more money than you earn on your credit card, start understanding your money triggers and how to best avoid them.⁠

For example, do you have a tendency to indulge a little (or a lot) in retail therapy when you’re stressed?

Maybe your social media feed and the constant influx of ads for products you probably don’t need is harming your bank account.

Take note of these triggers, and come up with ways to actively avoid them - or at least lessen their impact. A 5-minute meditation when you’re stressed could really help, or set app time limits on your phone, etc.

4) Putting Off Your Goals

Instead of putting off your money goals because of a lack of discipline, start being more intentional about where you spend your money.⁠

If you’re serious about paying down debt to free up some of your income, grab a pen and paper and create an actionable to-do list of how you can achieve this.

For example, think about where and how you’re spending your money on a daily or weekly basis - and how if you cut that back and put it towards your debts, how much more quickly they could be paid off.

Take a look at your spending habits at the end of every month to really pinpoint what’s draining your bank account, and then reduce these as much as possible.


If you struggle to stick to a budget and spend within your means, the ImageNPay app could be for you.

You’ll have access to your very own digital prepaid card to load funds onto and get yourself back on track - download for FREE on iOS today!

Follow us on Instagram for more finance tips and tricks.

Post inspired by @savespendinvest

Be more financially savvy with the ImageNPay virtual prepaid card


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