12 Money Mistakes Almost Everyone Makes

By SHARE

Falling victim to spending traps.

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Rewards credit cards sound good in theory, but in reality they encourage you to spend more than you would otherwise. Economists dub this phenomenon "purchase acceleration," because you ramp up your spending when that reward is in sight. Rewards cards also carry a higher interest rate—two percentage points, on average—than non-rewards cards.

Next: Failing to negotiate prices.


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