Money management is a lifelong learning process. It’s easy to make a mistake or two along the way.

At CoreFirst Bank & Trust, we want to make sure you don’t have to learn about money mistakes the hard way! Here are a few financial fumbles to avoid for a prosperous future:

• Putting off financial planning. Planning for the future can seem overwhelming.  But the sooner you start, the better chance you have to meet your short- and long-term financial goals. So don’t wait! Start by setting aside time once a week or once a month to review your budget and investments.
  
  TIP: You don’t have to do it all by yourself! CoreFirst has products, services, and people that are ready to give you feedback and solutions to develop an approach that is just right for you.  
  
• Not having a debt repayment strategy. Many people are paying off multiple loans at the same time – and it can be difficult to know the best path to a debt-free life.
  
  Some experts believe you’ll save money in the long run if you pay off debts with the highest interest rates first. Others suggest that paying off debt with the lowest balances first allows you to make progress you can see, which motivates you to keep going.
  
  There’s no one perfect path to a life without debt – so try the option that works best for you!
  
  
• Going overboard on credit card spending. Using credit cards to pay for all of your expenses can be a slippery slope into financial strain. Not only do you run the risk of racking up debt – but you can also end up paying MORE for essential items like groceries and fuel, if you fall behind on payments on cards with high interest rates.
  
  
• Not having an emergency fund. Life comes with unexpected expenses – and without a safety net, one mishap could cause serious financial strain.
  
  Saving isn’t easy, so try starting small! Putting away just $25 a week adds up in a year or two.    
  
  
• Not taking advantage of employers’ matching retirement contributions. When you’re just entering the workforce, retirement can seem impossibly far away. But it’s essential to start planning for retirement as soon as possible. 
  
  Many employers offer a 401(k) match program. If they do, be sure to contribute enough to take advantage of the match. That’s free money!