When it comes to money, most people don’t fail because they’re “bad with numbers.”
They struggle because they fall into patterns that feel normal but quietly keep them stuck. These money mistakes are more common than you think, but the good news is they’re also easy to fix.
Here are the top five money mistakes I see most often—and how to fix each one.
1. Not Having an Emergency Fund
The mistake: One of the most common money mistakes I see is living without a safety net. One unexpected bill can send you straight back to credit cards or debt.
The fix: Start small. Aim for 2–4 weeks of expenses in a savings account, then build to 3–6 months. Even a few hundred dollars can give you peace of mind.
2. Confusing Income With What You Can Actually Spend
The mistake: Thinking that if it’s in your account, it’s available. This leads to overspending and no progress on goals. This is a classic money mistake: thinking your whole paycheck is available to spend.
The fix: Use a spending plan that separates essentials, goals, and discretionary spending. The Mojo Number gives you one weekly number to follow so you know exactly what you can spend without guilt.
3. Ignoring “Small” Leaks in Your Spending
The mistake: It’s easy to overlook small expenses, but this money mistake can drain your budget fast. Underestimating how much small, recurring costs add up—subscriptions, takeout, impulse buys.
The fix: Audit your expenses once a month. Cancel what you don’t use and set a limit for things like takeout. Even redirecting $100 a month can add up to over $1,000 in a year.
4. Paying Off Debt Without a Plan
The mistake: Another money mistake is throwing random payments at debt without strategy. Making random extra payments or only paying minimums. Without strategy, debt payoff feels endless.
The fix: Pick a method. Use the avalanche method to pay off the highest-interest debt first, or the snowball method to focus on quick wins. Stick with it consistently.
5. Waiting Until “Someday” to Invest
The mistake: Delaying investing is a money mistake that costs the most over time. Thinking you’ll invest once you make more money, pay off debt, or feel more “ready.” The delay costs you valuable time.
The fix: Start now, even with small amounts. Thanks to compounding, $50 a month today is worth far more than $200 a month if you wait 10 years.
Why Fixing These Mistakes Matters
These common financial mistakes don’t mean you’re failing. They just mean you need a better system. By making small changes—like setting up an emergency fund, calculating your Mojo Number, or choosing a debt payoff plan—you can finally move from feeling stuck to feeling in control.
Ready to Fix Your Finances?
You don’t have to figure this out alone.
Grab the Mojo Number Guide for just $10 to learn the simplest way to organize your weekly spending and eliminate guilt.
Or, if you want deeper support, join the Money Mastery Bootcamp—a 6-week coaching program designed to help you avoid these money mistakes and finally build a financial foundation that lasts.
👉 Learn more about the Bootcamp
For more tips, check out Forbes on common money mistakes.
