1. Waiting Too Long to Start Investing
Time is your greatest asset. Start investing early—even small amounts—and you’ll benefit from decades of compounding. Consider this: Person A invests $500/month from age 25 to 40 ($90,000 total) and ends up with $2.2 million by age 65. Person B starts at 40 and invests the same amount until 65 ($150,000 total), but ends with just $650,000. The earlier you start, the less you need to invest. As Warren Buffett says, “Time in the market beats timing the market.”

2. Buying Cars You Can’t Afford
The average new car payment is $750/month. That’s $9,000 a year—or $90,000 over a decade—just for transportation. And that doesn’t include insurance, gas, or repairs. Worse, you’re paying interest on something that loses value the moment you drive it off the lot. Instead, buy a reliable used car with cash and invest that $750/month. Over 10 years, you could build over $150,000 in wealth.

3. Paying the “Stupid Tax” (a.k.a. Unnecessary Debt)
Financing vacations, clothes, or other non-essential purchases with high-interest debt is a trap. An $8,000 Cancun trip financed at 25% APR balloons to $25,000 over time. Credit cards and buy-now-pay-later services make it feel painless—until the interest piles up. One-third of Americans plan to put summer travel on credit cards. The smart move? Save first, spend second. Invest instead of paying banks to fund your lifestyle.

4. Skipping Emergency Savings
Life happens. A job loss, medical bill, or car repair can quickly become a crisis without a financial cushion. Having 3 to 12 months of expenses in an emergency fund gives you peace of mind and protects your investments. One example: the speaker’s AC broke unexpectedly, but their savings covered the repair—no stress, no debt. If you’re single, you might get by with three months. If you have a family or own a home, aim for more.

5. Buying More House Than You Can Afford
A house is not automatically an asset—it comes with a mortgage, taxes, maintenance, and repair costs. Follow the 75-15-10 rule: keep monthly housing costs below 75% of your income after taxes, save 15%, and use the rest for discretionary spending. Make sure you have a 20% down payment and plan for moving costs, updates, and emergencies. Buying too much house can delay your retirement, your savings goals, and your freedom.

6. Trying to Look Rich Instead of Being Rich
Spending money to impress others is a recipe for long-term regret. True wealth often looks boring. Jay-Z famously wore flashy jewelry when he was worth $100,000. Now worth over $1 billion, he dresses low-key. Why? Because wealth isn’t about what people see—it’s about what you own and control. Building wealth may mean skipping the designer bag or luxury SUV now to enjoy total financial freedom later.

7. Not Negotiating for Raises
A small raise now has a huge impact later. A 2% annual raise adds $17,000/year after 10 years. A 6% raise? You’ll be earning $73,000 more per year over that same timeframe. That’s a $130,000+ difference in a decade. Always negotiate. Show how your work drives results, how your role has expanded, and why your pay should reflect that. Don’t wait for your boss to notice—speak up and build your value.

Bonus: Building Investment Income So You Can Walk Away
Want to retire early? Replace your income with investments. If you make $80,000 a year, aim to generate that through rental income, dividends, or other passive streams. It takes time and consistency, but it’s the path to freedom. The key? Start now. Invest with every paycheck. Make your money work while you sleep, so one day, you don’t have to work at all.

Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but he is not providing you with legal advice in this article. This article, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

The post 7 Money Decisions You’ll Regret in 10 Years (And How to Avoid Them) appeared first on ROI TV.

If you’re serious about building long-term financial security, it’s not just about earning more—it’s about keeping and growing what you have. Here are seven money habits you’ll want to break—and smarter strategies you can use to move closer to financial independence.

1. Overpaying Taxes and Waiting for a Refund

Tax refund season feels like a celebration for many Americans, but here’s the truth: if you’re getting a big refund, you’ve been giving the government a 0% interest loan all year.

Example:

• Income: $60,000
• Taxes withheld: $17,000
• Taxes owed: $14,000
• Refund: $3,000

That $3,000 could have been earning interest in a high-yield savings account instead of sitting in Uncle Sam’s pocket.

Smarter strategy:

• Use the IRS Tax Withholding Estimator.
• Adjust your W-4 to fine-tune your withholdings.
• Keep your money working for you year-round.

2. Confusing “Can Afford” With “Can Buy”

Just because you can swipe a card doesn’t mean you can truly afford something.

A good rule:
If you can’t afford to buy five of it without financing, you probably shouldn’t buy one.

Financing luxury goods like a $1,000 Gucci scarf—or anything that doesn’t generate income—is a fast track to financial instability.

Smarter strategy:

• Focus on building assets, not collecting status symbols.
• Only finance appreciating assets (like a house), not depreciating ones.

3. Financing Cars Instead of Investing

The average new car payment in America today? $742 per month—and that doesn’t even include gas, insurance, or maintenance.

Instead of financing a $60,000 BMW, imagine buying a reliable used Toyota for cash—and investing that $600 difference every month.

At a 10% annual return, $600/month grows to:

• $775,000 in 25 years
• $2.1 million in 35 years

Smarter strategy:

• Drive a modest car early.
• Let compounding work its magic over decades.
• Buy your dream car later—in cash.

4. Waiting Too Long to Start Investing

If you start investing just $100 a month at age 21 at a 10% return, you could have over $1 million by age 67.

Wait until age 27? That drops to $580,000.
Wait until age 35? Just $250,000.

Smarter strategy:

• Start investing early—even small amounts.
• Let time and compound growth do the heavy lifting.

5. Focusing on What Others Make Instead of What You Gain

One of the biggest mindset traps is worrying about someone else’s cut instead of focusing on your own value.

Example:
A couple passed on buying their dream home because they were frustrated that the agent’s commission seemed high—losing the opportunity to live where they wanted for decades.

Smarter strategy:

• Focus on your benefits, not what someone else earns.
• A great opportunity for you is still a great opportunity, no matter what others gain.

6. Hesitating to Invest in Yourself

People will spend hundreds or thousands on vacations or luxury goods but balk at buying a $20 book or a $200 course.

Investments in personal growth—books, classes, workshops—can change your income, your mindset, and your future.

Smarter strategy:

• Budget for ongoing education.
• Apply what you learn immediately.
• Grow your skills as aggressively as you grow your savings.

7. Expanding Expenses With Income (Instead of Saving More)

Too many people raise their expenses every time they get a raise—new cars, bigger homes, fancier vacations.

Instead, follow the 75-15-10 rule:

• 75% of income for living expenses
• 15% for investing
• 10% for saving

No matter how much your income grows, sticking to this rule ensures you’re always building your financial future.

Smarter strategy:

• Cap your lifestyle inflation.
• Let raises boost your investments—not just your lifestyle.

Final Thoughts: Wealth is Built on Good Habits

You don’t need to be perfect with money—you just need to consistently make smarter choices than you did yesterday.

Break these seven common habits.
Start investing early.
Focus on value, not appearances.
And watch how steadily financial freedom becomes your reality.

Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but he is not providing you with legal advice in this article. This article, the topics discussed, and ideas presented are Jaspreet’s opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

The post 7 Money Habits That Can Hurt Your Financial Freedom and What to Do Instead appeared first on ROI TV.