Seven Deadly Sins of Personal Finances Much is written on the “biggest financial mistakes” that people make with helpful tips for avoiding them. We’re used to seeing many common examples of how people can get themselves in trouble through certain activities, such as charging up credit cards, making minimum interest payments, buying cars new rather than used, not shopping auto insurance plans, etc. The list of common mistakes people make in their finances can fill a book, yet they are all rooted in the failure to adhere to the most basic rules of finance. If you follow these rules, you will be less likely to make the common mistakes. If you fail to follow the rules you will be committing one of the seven deadly sins of personal finance and the mistakes will likely follow.
When it comes to admitting that women are better at certain things, men have a difficult time conceding any degree of supremacy. One of the more contentious debates in the gender stakes is over which is the better driver – the male or female of the species. Of course, as with any contest of proficiency, establishing superiority is contingent on what exactly is being measured. While, men will invariably point to their superior parallel parking skills, the case for women is bolstered by insurance statistics that clearly show men are more likely to crash their cars. Men may be able to boast of their superior skills, but, according to the insurance companies, women are safer drivers, which by their measure, means they are better drivers.
Of course, much of this can be explained by the volumes of studies on gender behavior. Women are naturally predisposed to avoid risk where they can; women are better able to keep their egos in check so driving is not a competition to them; in times of stress, women are better able to exercise self-control and discipline; and women generally take the long view on matters of life, which means they’re not in as much of a hurry.
For most of us the conversation isn’t whether or not we’ll need long term care, but rather when. According to the U. S. Department of Health and Human Services as many as 70% of those turning 65 years of age are likely to require long-term care, meaning that it probably makes sense to start planning for this as an eventuality rather than a possibility.
As we age, the odds of incurring an injury or major illness that will prevent us from performing simple daily functions increase substantially. Today, one in three people over the age of 65 will require assisted care of some sort. Past age 75 the odds increase to where one in two will need nursing care.