00:0010 Midlife Money Decisions People Often Regret Later
00:05Spending More Than You Make
00:06A bigger paycheck tempts splurging but overspending.
00:10Breeds debt, track spending, budget carefully, and live within means consistently.
00:15Letting debt get out of hand, mortgages, car loans, etc.
00:20Loans and credit cards escalate quickly.
00:22Prioritize high interest balances, refinance, etc.
00:25When possible and practice disciplined repayment, putting off returns
00:30to retirement savings.
00:32Retirement feels distant but compounding rewards early savings.
00:35Contribute consistently now to avoid painful, expensive catch-up later in retirement.
00:40Investing without a clue Investing accelerates
00:45Investing with wealth when informed.
00:47Diversify broadly, research thoroughly, and avoid hot
00:50tips or concentrated speculative bets blindly.
00:54Forgetting to save your money?
00:55Save for your kid's college.
00:57College costs loom large.
00:59Start dedicated
01:00savings early to spread expenses and reduce your children's reliance on burdensome loans.
01:06Underestimating life insurance.
01:08Good health today isn't guaranteed
01:10to save your children's lives tomorrow.
01:11Adequate life insurance safeguards your family's finances if tragedy strikes
01:15unexpectedly or early.
01:18Ignoring your credit score
01:20credit scores affect mortgages, loans, and rates.
01:23Pay on time.
01:24Keep balance
01:25taxes low
01:26and monitor reports for errors.
01:28Falling for too good to be
01:30true
01:31scams.
01:32Beware of promises of guaranteed
01:34high returns with no
01:35risk.
01:36Verify credentials, research thoroughly, and never pay upfront for investment.
01:40Skipping professional financial advice.
01:41Skipping professional financial advice.
01:45Qualified advisor
01:46tailors strategies to your goals, clarifies trade-offs, and helps prevent costly
01:50avoidable financial mistakes over time.
01:53Not having a side hustle or
01:55backup plan.
01:56Single income dependence is risky.
01:58Build a side hustle
02:00or backup plan to diversify income, boost security, and increase resilience today.
02:05For more information, visit www.fema.gov.au
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