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Money traps are deceptive financial behaviors or situations that drain your wealth over time, often making it difficult to build savings and achieve financial security. They can range from high-interest debt to not investing and diversifying properly. These traps are designed to feel harmless in the moment, but together they add up and keep you from reaching your financial goals. Recognizing them is the first step to avoiding them—and reclaiming control over your money. Let’s talk about that today!
By Molly Ford-CoatesMoney traps are deceptive financial behaviors or situations that drain your wealth over time, often making it difficult to build savings and achieve financial security. They can range from high-interest debt to not investing and diversifying properly. These traps are designed to feel harmless in the moment, but together they add up and keep you from reaching your financial goals. Recognizing them is the first step to avoiding them—and reclaiming control over your money. Let’s talk about that today!