---
title: "Top 5 Money Mistakes: Are You Making Them?"
description: These are easy money mistakes to make which is why so many people do - Are you making them right now?
image: https://www.bizx.com/hubfs/social-suggested-images/cash-salary-money_1940x900_33794.jpg
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## [Top 5 Money Mistakes: Are You Making Them?](https://www.bizx.com/blog/top-5-money-mistakes-are-you-making-them)

 February 1, 2016 | Written by [Nita](https://www.bizx.com/blog/author/nita)

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**These mistakes only take a moment to make, but YEARS to correct.**

**SOCIAL SECURITY: NOT SO SECURE**

 In 21 years, the Social Security Trust’s coffers will be depleted, and unless something changes between now and then, you can expect to receive only 76% of the total benefit amount you were banking on.

**STUDENT LOANS: STUDY NOW, PAY FOREVER**

An expensive college education may well land you the successful career you always dreamed of, but until you’re making a huge salary, you will be staggering under the weight of a heavy student loan for a long, long time.

**HOME LOANS: DIDN’T SEE THAT COMING!**

A large proportion of the American population does not fully understand the complexities of home loans. As a result, real estate decisions are not always sound and become a needlessly expensive enterprise.

**HOUSEHOLD BUDGET: SO, YOU DIDN’T HAVE ONE?**

According to a Gallup poll, 68% of Americans do not bother to chalk out a monthly household expenditure plan – and therefore keeps overshooting their `budget’ without even realizing it.

**BARGAIN-SHYNESS: UNDERUTILIZED MONEY-SAVER**

Did you know that you can bargain for a better price at big-box stores – and chances are real good that they will try to negotiate a better price on the goods, especially if you’re paying cash?

Read more [here](http://time.com/money/4125736/money-mistakes-everyone-makes/?xid=frommoney_soc_socialflow_facebook_money).

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