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b"Now I know that a lot of my listeners and clients are well on their way to a comfortable retirement and are living fulfilling lives with all the joys of a steady job or business, a nice house of their choosing in a good neighborhood, and a good lifestyle with material and social comforts such as the ability to dine at nice restaurants, take nice vacations, socialize with wonderful people and indulge their desires for things like comfortable cars, elegant home furnishings, etc. - things that are nice to have and make for a rich, comfortable and fulfilling life.
There are joys to buying new cars and high quality name brands, but only if you've got everything else taken care of.
That said, I also routinely meet people who have had steady, well paying jobs but have still not managed to save enough for retirement, and are worried about their financial future.\\xa0 And when quizzed about what they did to not be financially secure, I often see the same pattern repeated over and over \\u2013 with unwise financial moves \\u2013 mostly out of ignorance or an overly carefree live-for-today attitude \\u2013 that kept them from saving and regularly investing for a financially-secure.

There are joys to buying new cars and high quality name brands, but only if you've got everything else taken care of. In the meantime, be smart, pull yourself together and get in great financial shape.

So here's a list of eight unwise financial moves that I came across in an MSN Money article that I wanted to share with you today. But before that, let me stress that some of these moves, like buying a fancy new car, do not apply to people who are financially secure but to those who don\\u2019t have enough savings and need to save more so they can build a comfortable nest egg.
8 Tips to Get Your Finances in Order

* Borrowing to buy depreciating assets

Problem: Your IOU becomes an OMG when your purchase loses value. That\\u2019s why the housing crisis was so devastating to many families. Everybody with an underwater mortgage \\u2013 meaning they suddenly owed more than their homes were worth \\u2013 learned this the hard way.

How to avoid it: While homes typically increase in value, we generally know beforehand what\\u2019s going to lose value \\u2013 almost everything. And borrowing money to buy things that decrease in value \\u2014 like cars \\u2014 is simply compounding the loss. That\\u2019s why \\u2014 ideally \\u2014 credit should be used only to buy those few things that generally increase in value: a house, an education, or maybe a business.

* Buying a new car

Problem: If consumers want to feel smart, they comparison shop, kick a few tires, and talk to a few salespeople in an attempt to get a decent deal. But even if they drive the hardest possible bargain, that new car is still guaranteed to lose thousands of dollars in value the second they buy it and drive it off the lot.

How to avoid it: For starters, buy used, preferably from private sellers. And there is something of an art to finding a great used car. Check out tips and resources online with a search on \\u201cTips for Buying Your Next Car for Less\\u201d or \\u201cThings You Should Check Before Buying a Used Car.\\u201d

* Saving while in debt

Problem: Savings provide a sense of security, but if you pay more interest on your debt than you earn as a return on your investments, you\\u2019re going backward. One possible exception could be debt that comes with a tax benefit, such as mortgage interest or some student loans.

How to avoid it: As a rule of thumb, use low-interest savings to pay off high-interest debt. The reverse will gradually reduce your net worth. But don\\u2019t sacrifice peace of mind. If you\\u2019re in danger of being laid off or expecting a big expense, and retaining cash helps you sleep at night, that\\u2019s worth factoring in.

* Buying name brands

Problem: In some cases, name brands are worth the extra cost."