3 Big Debt Mistakes People ALWAYS Make

I often see the same debt mistakes being made time and again, and part of my job is to help people avoid these. In this video I give real world examples of the common debt pitfalls to avoid. 📊 Highly rated platforms for direct investing 📈 If you are looking to start your investing journey without financial advice, the following investment platforms are popular with other UK investors due to their low charges, and offer a wide range of investment options: InvestEngine https://investengine.pxf.io/c/2589094... Get a Welcome Bonus of up to £50 when you invest at least £100 with InvestEngine Vanguard https://www.vanguardinvestor.co.uk/ This is not an affiliate link 👉🏻 Looking for help with Financial Planning? If you would like to find out how me and my fully qualified team may be able to help you, please email [email protected]. DISCLAIMER: Some of the links above may be affiliate links. If you purchase a product or service using one of these links, I will receive a small commission from the seller. There will be no additional charge for you. This video is for education purposes only and does not represent financial advice. When investing, your capital is at risk. Investments can rise and fall and you may get back less than you invested. Past performance is no guarantee of future results. If you are unsure of what to do, always seek advice from a qualified financial adviser. 🎬 WATCH NEXT 🎬 3 Biggest Pension Mistakes -    • Avoid These BIG Pension Mistakes That Coul...   🤔 ABOUT DEBT MISTAKES 🤔 Debt is an emotive word. Many people feel they should pay off debt as quickly as possible and whilst there can be benefits to doing this, it is important to understand the difference between good debt and bad debt. The phrase 'good debt' is often heard because debt usually has negative connotations attached to it, but debt can be both an asset and a liability. Understanding this concept can help you answer the question of 'should I pay off debt' and help you avoid some of the biggest debt mistakes. Another common pitfall is 'mental accounting', which means to look at debts in isolation rather than as part of a bigger financial picture, often leading to you paying more for debt. It's important to be aware of the dangers of mental accounting and how it can cost you. All of these concepts are explained in this video. ⏰ TIMESTAMPS ⏰ 0:00 Start 1:00 Introduction To Debt 1:41 Good Debt vs Bad Debt Examples 4:21 The Mistake of Not Using Debt 6:55 The Dangers of Mental Accounting