Mistakes to Avoid When Managing Your Salary

Introduction

Your paycheck is a powerful tool—if you direct it intentionally.

1) No Budget

Without a plan, lifestyle creep wins. Give every dollar a job.

2) Saving What’s Left

Reverse it: save first, spend what’s left.

3) Ignoring Insurance

One incident can erase years of savings. Cover health, term life, and disability.

4) Not Investing Early

Compounding rewards the early and consistent.

5) Debt Minimums Only

Pay more than the minimum on high‑interest balances.

6) No Emergency Buffer

Cash prevents using credit in crises.

7) Not Tracking Benefits

Use employer matches, HSA/FSAs, and reimbursements.