Working towards your financial goals? Personal finance management can be a daunting task for those without the right knowledge. Making a bad financial decision can set you back from your goals or even worse cause major economic hardships. Here are the top 10 worst financial mistakes to avoid and how you can position yourself for success. #1: Prioritising the purchase of a car over a property To understand why buying a car instead of a property is a financial mistake, we must first understand the difference between an asset and a liability. In the simplest terms, assets put money into your pocket while liabilities reduce the amount of money in your pocket. A car is considered a depreciating asset or liability. Not only is a new car a big-ticket purchase, it depreciates over time. In Singapore, the average depreciation value of a brand-new car is S$10,000 a year....