5 financial choices that will haunt your money for life

Spending too much money

Spencer Platt/AP

Overspending is a problem many people fall victim to, but you shouldn’t spend all the money you make, according to Eric Roberge, a certified financial planner and founder of Beyond Your Hammock.

“Spending right at your means, even if you don’t go over and spend more than you earn, is like trying to take a race car up to 200 miles an hour with a warped wheel,” he wrote in an article on Business Insider.

“Ifanythinggoes wrong — you hit a bump, you swerve, whatever — you’re done. There’s no second option when you’re going full throttle in your financial life. There’s no safety net.”

Leaving room in your budget to save some of your earnings will set you up so you’re not scrambling for money when you need it most.

In other words, learn to live below your means.