Saving & Spending

9 Ways People Accidentally Ruin Their Finances

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Last updated Dec. 9, 2025 | By FinanceBuzz Editors

As much as making a mistake with your hard-earned money can stink, it's nothing to be ashamed about. Through these missteps, we can learn and grow. 

But, if you can avoid learning the hard way, why not seize the opportunity? Here are a few of the most common ways that people accidentally hold themselves back financially — and how to avoid these traps.

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Not canceling your car insurance

We’ve got bad news. You could be wasting $500 every year on overpriced, second-rate car insurance. And you should probably cancel your existing insurance right now, because there’s something much better.

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Oh, and it’s also free. And come on — you can’t tell us you don’t want to save up to $500. To find out if you’re losing up to $500 or more a year, just enter your zip code here, answer a few questions and see if you’re overpaying. It takes less than 2 minutes.

See if you’re overpaying

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