When it comes to dollars and cents, men don't always have the best financial know-how and there is no shame in that. Here is a breakdown on some of the common money blunders men make.
Obsessing over every little bump and dip
Knowledge may be power, but Ronald T. Wilcox, a professor at the Darden School of Business, tells Ask Men that poring over financial and watching the markets like a hawk can lead to rash decisions.
"The values of stocks and bonds increase and decrease on a regular basis, and even if they do tend to go up over time, the pain associated with seeing a daily loss is real," he says. "When you become overly anxious about your portfolio, you're more likely to trade assets, and this active trading generally leads to decreases rather than increases in wealth."
Not squirreling enough away
In Men's Health magazine, financial advice columnist Jean Chatzky points out "confidence doesn't pay the bills." According to a Men's Health/ING Direct survey, 69 per cent of men have less than 6 months' worth of living expenses saved in case of an emergency. Getting sick or losing a job will hit men without a six-month cushion that much harder.
Getting romantically — and financially — entangled
Ask Men lays out the types of common money mistakes unmarried men make. Though couples should share interests and goals, if you haven't tied the knot, it's best not to go in on a credit card together. If your girlfriend's credit is bad, your rating may boost her score. But if the relationship ends, things can get ugly.
"She can keep shopping on it or she can stop paying her share of the balance. You're out on a limb. You can get your name removed from the card but not until you pay off the balance."Watch the video below about some of the great food truck trends sweeping Canada coast to coast.