7. Not keeping a track of your money
You should know where your money is going. Maintain a record and investigate how your money is used. In 1989, Billy Joel filed a lawsuit worth $90 million against his former manager, claiming that he was involved in a fraud and used his employer as a personal bank. Uma Thurman lost a million dollars to her financial advisor, Kenneth Starr. The takeaway: Do not trust just anybody with your money, whether it’s your financial planner, broker, mortgage lender, or even your car dealer, without being diligent.