16 Biggest Financial Mistakes You’re Probably Making and How to Fix Them

Mistake: Cosigning a Loan or Lease

It’s understandable to want to help your children or a friend that is struggling, especially if all that’s needed is your signature on a car loan or an apartment lease. But, you could find yourself in an uncomfortable situation if the payments you cosigned for are running late and the creditors start demanding that you pay up immediately even though it’s not your loan. To avoid ruining your own credit, you’ll have to comply.