7 Money Mistakes Even High-Income Earners Make
Earning a six-figure salary can make building wealth easier,
but it’s not a magic solution for your financial woes.
If you want to be financially secure, you need to make your money work for you.
Earning a high income is only one part of the equation.
Most of the mistakes that six-figure earners make are easy to fix.
Here’s how to use that high income to your advantage and build your net worth.
Mistake #1: Not using a budget
Just because you have a lot of money coming in every month doesn’t mean you shouldn’t keep track of where it’s going.
Mistake #2: No long-term financial plan
Making a six-figure income won’t mean much if you lose your job or if you don’t save enough for retirement.
While you may think there’s no way to minimize how much of your earnings you hand over to Uncle Sam, that’s not the case.
Mistake #3: Failing to minimize taxes
This is especially true of six-figure earners since they assume their good fortune will last for the indefinite future.
Mistake #4: Spending too much
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