Avoid these common financial mistakes

In this episode of Life Kit, host Marielle speaks with financial educator Yanely Espinal about common financial mistakes related to borrowing money, investing, and budgeting. Yanely emphasizes the importance of comparison shopping for loans, considering credit unions for better interest rates, and avoiding co-signing loans. She advises against neglecting high-yield savings accounts and highlights the benefits of workplace retirement plans like 401ks, cautioning against investing based on hype and advocating for diversified investments like index funds. The discussion also covers the significance of budgeting and avoiding lifestyle inflation, with Yanely offering practical advice and resources for listeners to improve their financial literacy and habits.