These Silly Mistakes Will Cost You

We all have lapses in judgement at one point or another where we make silly decisions that could be riskier than they seem. For instance, you might decide to buy a house when you’re a freelancer. Now, that might not seem like a risky decision at first. After all, you do seem to be making good money and right now, you have more than enough to handle those mortgage repayments. Okay, but the problem with this is that as a freelancer you can never be guaranteed work. This means that at some point you could be out of contracts and have no way to make those repayments. Interest rates can grow out of control and suddenly you’re in a difficult financial situation.

So, buying property when your financial situation isn’t secure is a mistake that could cost you an absolute fortune. Here are a few others. 

It’s Great To Be A Pirate

Or is it? The maximum prison sentence for online piracy is ten years in some parts of the world and a hefty find that could be more than your house is worth. Bright sparks are thinking that this is for the real pirates that record the films or steal them, and sell them for a profit. While this is mainly true, every so often authorities like to make an example of a regular random pirater. This could be someone who has watched one film illegally online or perhaps downloaded a few songs. So be careful thinking you can get away with it because it’s not a real crime. You might just be one of the unlucky ones. 

Men Being Men

Watch any hollywood film, any TV show and there is always a guy fighting for respect literally. It might be a fight in the honor of a girl or perhaps just to protect a battered ego. It’s usually portrayed as something of a heroic act but be careful. What the media never shows you is the after effects of an act like this. In short, unless the act was violently provoked, you’ll be looking at criminal charges. What is the average cost of a criminal defense attorney? Actually, it’s not that high and it depends on what law firm you use. The real financial cost will be the probable loss of employment after your boss discovers you have a criminal record.

I’ve Got An Idea…

Great, but don’t start a business just yet because you need to be aware that 97 percent of businesses fail. Most start on the market at a loss and take years of hard work to reach profitability. During this time, the owner is paying for the company out of their own pocket and generating huge levels of debt. As such, having too much faith in an idea could definitely be a costly mistake. If you’re going to start a business you need a long term plan of how to make it a success. 

Who Wants To Be Rich?

Finally, you must avoid the ironic yet dangerous promises online of getting rich quick. These are nothing but scams and usually involve paying a massive fee for nothing in return. If you think you can claim your money back in a legal battle, you’re wrong. These contracts are usually iron clad with pages of small print that tell you exactly what you’re buying. If you want to avoid losing thousands in cash, avoid them completely.