Prudent financial management entails avoiding financial traps.Below are some financial mistakes you should  avoid in 2016.

Employer paid benefits – Most employers will offer a benefits package that is a great kick-start to financial strength. Things like life insurance,short and long term disability,retirement planning and health insurance are all ways to protect you and your family from falling into a financial tailspin. Don’t fail to take advantage of them.

Not understanding what your employer offers – If you are lucky enough to have an employer that offers basic protections, make sure you understand what you have.Talk to your Human Resources department or a financial professional to help you get the information you need to make sure your goals are aligned.

Budget/Raise/Bonus – If you’re spending more than you’re making, you need to make real adjustments to your budget to get back on track. Believing you’ll get that raise this year to offset your budget woes is a step in the wrong direction.

Credit cards -If you use your credit card for convenience, make sure you can pay it off completely before the end of the month. Don’t accumulate unnecessary interest because of unplanned expenditure.

Transportation expenses – Those license tab renewals always come at the worst time. And your usually reliable commuter bike needs some repairs. What if you’re out with friends and need to get an UBER? Make sure you account for those small yet important financial obligations that inevitably arise.