Don’t miss a BRAND NEW episode of The Women’s Eye podcast with Catherine Anaya as I talk with Catherine Scrivano, President of CASCO Financial Group in Phoenix, Arizona. In this episode, we talk about how to break bad financial habits; how we develop them; and how we can avoid them.
Catherine is also a regular contributor to The Women’s Eye podcast with her Building Money Power segments. She started her business to help people create the financial strength they need to achieve their dreams.
you don’t have to be wealthy to be wise.
Scrivano goes in depth about how typical money mistakes can become bad money habits. “We have to be vigilant and be prepared to avoid those things that do come up without our expectation,” she says. Some of the bigger habits to avoid are lending money to family or friends; saving too little; or spending more than you make.
Catherine shares some strategies for avoiding the bad financial habits’ trap once they begin. Know what is sustainable. Look at the big picture if you are spending more than you make. Try to wait before making nonessential purchases, she suggests.
When someone asks you to cosign a loan or to lend money, she recommends not to respond immediately. Think about it, she says, and why they are approaching you.
She advises making any loan a business transaction to reduce any possibility of losing money. Put it in writing. This will reduce your chances of losing money and future possible misunderstandings.
Check out this podcast for more helpful tips about financial situations to avoid and how to deal with them.
Also, for more helpful advice, check out Catherine’s podcast on How to Avoid Costly Financial Blindspots: