If being a millionaire used to mean yacht parties and champagne toasts, someone forgot to tell today's millionaires. Turns out, having seven figures in the bank doesn't always come with a sense of financial comfort—or even confidence. According to the 2025 Planning & Progress Study by Northwestern Mutual, only 36% of U.S. adults with at least $1 million in investable assets actually consider themselves "wealthy." That means 64%—despite their millionaire status—feel like they're still chasing financial sec ...

Core Insights - Rachel Cruze, a prominent financial advisor and co-host of "The Ramsey Show," identifies seven common financial mistakes that can cost individuals thousands of dollars [1] Group 1: Common Financial Mistakes - The first mistake is juggling minimum payments on credit cards or lines of credit, which leads to paying interest and potentially late fees, hindering financial progress [2][3] - The second mistake involves having substantial savings while also carrying significant debt, where Cruze advises using savings to eliminate debt due to the higher interest costs associated with debt [4][5] - The third mistake is taking on a mortgage before being fully prepared, emphasizing the importance of being debt-free, having an emergency fund, and making a substantial down payment to avoid private mortgage insurance [6][7]