As we gear up for the economic climate of 2025, there are mistakes you should endeavor to avoid if you do not want to experience financial shege this year. Sometimes, making money is not the problem, it is the way you handle money that will determine if you will survive or thrive.
No doubt, mistakes are normal, some might even say they are unavoidable. However, it is a different matter if it is a deliberate act. To avoid common money mistakes that might cost you dearly, read this article carefully.
10 money mistakes you must stop making in 2025
1. Not taking charge of your finances

You might feel you are a “big man” and therefore, you should not be personally involved in your finances. That is a wrong move that can take you from grace to grass.
There are countless stories of successful people who were financially ruined because they trusted someone else with their money. Do not join the statistics. Take charge of your finances, including your income and expenses.
If you must delegate your finances, ensure you are on hand to supervise everything. This will reduce chances of being defrauded to the barest minimum.
2. Working with a poverty mentality
First of all, whatever you are seeing around you is a product of the mind. If you have a poverty mentality, everything you do will toe that line. The same applies when you have a rich mentality.
Therefore, make a habit of removing anything that points to poverty in your thoughts as they can reflect in your actions. In other words, if you think like a poor man, you will always earn and live as a poor man. Also, if you think like a rich man, everything about you will be screaming of wealth or potential wealth.
3. Mixing business with pleasure

If you are the type that likes using your capital to sort out personal needs, stop in 2025. That is a completely bad move and you wonder why your business is not making any significant progress. It is not your village people, you are your own village people.
Learn to differentiate between business and pleasure. Set the finances apart so you will not be tempted to spend the money you are supposed to invest to buy the latest iPhone. Financial discipline is a must-have requirement if you want to be financially stable this year.
4. Being sentimental with family and friends

Oh your mum wants those jewelries you imported to sell but she cannot afford it? Can she have it for free, as in she is your mum, or should she pay back whenever she has the money? The answer is NO. Your best friend wants some new pairs of shoes for her child’s birthday but she does not have money for now? Can she get them for free, as in they are birthday gifts from you, or she should pay when she has the money? Answer is still a capital NO.
Look, never ever allow sentiments to run your business. Those family and friends that want to do business with you for free will not be there when your business suffers. Learn to be firm and set boundaries of what you can allow and cannot allow.
5. Prioritising your wants over your needs

I know you want to dorime in Obi Cubana’s club during the weekend. It is fine if you can spare the funds. But if you have other things that need your immediate attention, postpone that dorime.
What does it profit you to spend millions in a club but you cannot afford shop rent? It does not make any sense. Learn to prioritise your needs over your want. When you have excess funds, you can do as you like with them.
6. Not being accountable
You may think that you do not need to be accountable to anyone, after all you built your career from scratch without any help from anyone. While it may seem justifiable to stay in lane and mind your business, being accountable to someone is actually for your own good.
One thing about being accountable to someone is that it keeps you on track on what you need to achieve. This is one area you should never ignore if you want 2025 to make financial sense.
7. Investing in what you don’t understand
This includes Ponzi schemes, online coins and tokens, and so on. The thing is people will always come to persuade you to invest in what they are offering. It is normal, which is why many Ponzi operators usually walk around freely.
But it is up to you to shine your eyes with these offers which are usually appealing. These “motivational speakers” will use their sweet tongues to get you to believe you understand what they are saying whereas it is not true.
Take your time and learn a business. If you are confused about something, seek research. Do not be lured with the promise of quick gains if you invest now now. You will learn the hard way if you succumb to those offers.
8. Not learning money management

It is one thing to make money, it is entirely another to know how to manage money. Many wealthy people have gone broke because they did not handle their money well. Learn the art of saving. Do not wait until you reach a financial threshold before you start.
For instance, you want to start making up to a million Naira before you start saving up to a hundred thousand. That is a money mistake because there is usually no guarantee you will reach that milestone anytime soon. The earlier you develop a saving habit, the easier it will be to manage your finances when you become richer.
9. Not giving

”Blessed is the hand that giveth, than the hand that taketh,” is a song from Lucky Dube that aptly describes the benefit of giving in money management. Cultivate the habit of giving to the needy, no matter how small. You may not know this, but giving can open doors for you.
At a risk of sounding cliché, you may not how your tomorrow will look like. The person you offered help to, may be the one that will help you out of a bad situation. Always give so you can enjoy abundance now and in the future.
10. Not tracking your progress
Above all, tracking your financial progress will give you clarity on where you are financially and how to improve. How are you doing in your finance? Where are you losing money and where are you gaining money? What can you improve on to have a healthy bank account? These are questions you will get crucial answers to if you learn to regularly check your financial performance.