Mistakes happen. Some of them matter, and some of them don’t.  But it’s the mistakes that you don’t think matter, but do, that kick you in the money crotch (sorry, I have been wanting to use money crotch for a while now). Here are the top 5 mistakes that people don’t realize that they are making.

1. Forgetting to file your Homestead Mortgage Exemption. If you have a mortgage, and you haven’t filed this exemption with the county, then you are likely paying THOUSANDS of dollars more in taxes than you need to.

2. Buying company stock inside your 401k. This is a bad idea. You don’t need your retirement and your current income hinging on the same thing: the performance of your employer. If you insist on ignoring me on this one, then make sure you don’t have any more than 10% of your 401k in the company stock. But how about you just don’t ignore me. Trust me, I’m a doctor. No I’m not. But, seriously, just trust me.

3. Ignoring collection calls. If you have a debt that goes into collection, don’t ignore it. People will tell you that you can ignore the calls to gain leverage, but those people are wrong. Collections aren’t like the common cold. They just don’t go away. You need to call them back.

4. Letting a home builder or car dealer tell you how much you can afford. This is possibly one of the most heinous errors that you can make. Yet, most people have done this. Know what you can afford before you walk in the door. If you make this mistake, I don’t blame the seller, I blame you. Prevent yourself from getting blamed by me.

5. Loaning money to family or friends. I have always been a hard-ass about this. I have seen this scenario occur numerous times over the years, and it rarely works out well. And don’t get tempted to be part of my rarely. There is a reason that a lending institution won’t give them money to borrow. You should take a hint from that, and decline their request.

Avoid these things like the plague.

Sometimes rational thinking isn’t enough. Sometimes fear doesn’t motivate. And sometimes, embarrassment is inevitable because the thought of embarrassment isn’t enough to ward it off.

Every single person uses something different when it comes to motivation. Some people are able to rationalize that saving money will lead to a brighter future…and then act on it. Believe it or not, this is a small group of people. Others need to get so scared of future misery that they force themselves to act on their financial priorities. So what do you do if none of your techniques are working? Allow me to introduce you to guilt.

Prepare to be blasted. Don’t worry. This is how guilt works.

Remember the last time you lost $100 at the casino? Yeah, that was a bad idea. You haven’t even started to save for the college educations of your three children.

Remember that new purse you just bought? Yeah, that was a bad idea. Your parents just gave you $1500 to get out of credit card debt, and you bought a stinking purse. You should have given them the money.

Remember how you buy new golf clubs every 2 years, but you get mad when your wife wants to buy the kids nice school clothes? Yeah, that makes you selfish.

Remember how you pay $80/month for someone to clean your house, but you refuse to pay $35/month to buy the right amount of life insurance? Not cool, Holmes.

Remember how you have a $600 car payment, but you refuse to buy your kid braces for his crooked crooked crooked teeth? At least you will be driving his crooked grill around in a nice car.

See, guilt sucks. It does. But it sucks because it’s true. If you can possibly relate (or know someone that can relate) to any of these situations, then please take action. Use guilt to accomplish your goals. It works.


Indianapolis- Green Candy, in association with INside Indiana Business with Gerry Dick and WISH-TV’s 24- Hour News 8, will be hosting a Job Hunters Workshop on April 22nd at the Gene B. Glick Junior Achievement Education Center. The event is part of series of community events that Green Candy has been putting on in Central Indiana. Green Candy, a locally based Personal Finance website, has also hosted a comedy benefit and a 5k running race to raise money for The Leukemia & Lymphoma Society. 



“We are pleased that Green Candy is helping do great things for this community, all the while raising money and awareness for The Leukemia & Lymphoma Society,” says Sara Glenn, manager of special events for The Leukemia & Lymphoma Society.

The two-hour event will feature several prominent speakers. Some of the experts scheduled to appear are: Gerry Dick, President of Grow Indiana Ventures, who will discuss the climate of business in central Indiana. He will also discuss what industries are hiring in central Indiana. Peter Dunn, radio talk show host, WISH-TV Money Analyst, and founder of Green Candy, will discuss preparing your finances for a job change. Chuck Gose, a local networking and social media enthusiast, will be highlighting the importance and dangers of social media during a job search.

“Searching for a new career can be a tedious process, and we are glad that we can help bring some encouragement and tips to those that are looking for work,” says Gerry Dick, host of INside Indiana Business.

Peter Dunn, founder of Green Candy notes, “With unemployment hovering around 10%, we must make sure that we support those that are looking to enter or re-enter the workforce, this includes recent college graduates that are starting their job search for the first time.”

WISH-TV plans on highlighting the event as part of their continuing coverage of the unemployment challenges in Indiana. “We have long believed that the entire community is uplifted when the unemployed feel the support of their fellow Hoosiers,” says Jeff White, president and general manager of WISH-TV’s 24- Hour News 8.

The Do. Be. More. Job Hunters Workshop will be held from 9-11am on April 22nd. Cost for attendees is $10. All money will go directly to the Leukemia and Lymphoma Society of Central Indiana. Seats are limited. For tickets and information go to www.GreenCandy.com or call 317-576-8550.