11 money mistakes everyone makes

Tips for quitting the commonest money-management bad habits, based on "Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back," by Kimberly Palmer, an editor at U.S. News & World Report.

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Overspending on housing. It's almost impossible to get ahead financially unless you save a significant chunk of your income-ideally, $1 of every $3 you earn. But many people get tripped up by their housing costs. Traditionally, financial advisors have encouraged buyers to spend about one-third of their income on housing. But for many people, especially anyone with student loan debts, child care payments, or other hefty expenses, that's too much ... more
Overspending on housing. It's almost impossible to get ahead financially unless you save a significant chunk of your income-ideally, $1 of every $3 you earn. But many people get tripped up by their housing costs. Traditionally, financial advisors have encouraged buyers to spend about one-third of their income on housing. But for many people, especially anyone with student loan debts, child care payments, or other hefty expenses, that's too much money. less

Sat, 9 Jun, 2012 6:58 PM EDT

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