How To Failed In Money Saving (7 money mistakes)

Working for years but still have little saving? Why this happen?
Mistake 1: Failed to Plan
Do you properly plan your finances? Normally we don't plan for our finances and let it run in its own course. So, we ended paying high tax and overpaying for financial products (insurance, unit trust..etc). We even leave our money sit freely at home earning nothing. Planning is usually too late when you run into serious financial deficit. Your personal financial crisis. (Boooooommmm).
Mistake 2: Spending beyond our means
Most of us need to pay for utilities, car loan, house loan, credit card bill, telephone bill, and other micellaneous monthly. However, the temptation of rich lifestyle induce us to spend on foods, high tech gadgets, fashion, magazine, entertainment and leisure. When you continue to spend more than often, you run into persnal insolvency. (Imagine your car kena pull back by bank, house being tender to third party, no mobile phone to use, have to depend on relatives or sometime no one else).
Mistake 3: Spending future money
Credit card, the best credit tool for the poor. when we buy on credt, we happy that we can buy what we like without paying money until end of month. You have 20 days to be happy before the interest count on. Further detail on credit card interest available via http://www.hsbc.com.my/1/2/personal-banking/credit-cards/credit-card-fees-charges
Mistake 4: Delaying saving for retirement
Your income increase over years, but your spending also increase over years. More often the increasein spending exceed the increment in income will drag your retirement plan. (eg: House renovation, buying new cars, expensive items)
Mistake 5: Investing in the wrong product
Have you been buying several unit trusts and insurance policies without knowing who is the management team and relied on the advise of agents? It is vital for us to equip with some basic financial knowledge to shield ourselves from misinformation and fraud. (When you buying into financial products, make sure you read through the terms and conditions and ensure a sound management team behind it)
Mistake 6: Not saving for a rainy day
Planning for risk management is important as well. Imagine the life of our family who depend on our financial support. Insurance is perhaps the best and loyal partner the would help to take care our family members when we loss the ability to generate any income. Have you already buy one?
Mistake 7: Focusing on too much money matters
Get your money with happiness. Sometime, money is not the most important matter. The most important element in life is happiness. We live longer with happiness and hence it lead us to stay healthy and possess the ability to acumulate more wealth (knowledge and money).
However, if we choose to unhappy but poor. I would rather choose to be unhappy but rich.

Conclusion:
Start early for finanial planning and enjoy the fruit of your lifetime commmitment earlier than your peers.

If you want to know further in personal wealth management, u can go to malaysia investor site.