By having a documented plan for how to allocate your income, you are more likely to connect the money you have with the lives you truly want to live.

This is because sometimes clients will come to me having already made mistakes with their student loans that are irreversible. This could involve refinancing federal loans whey they should not have, spending years unnecessarily making higher monthly payments because they are in the wrong income driven plan, and thinking they have been earning credit towards Public Service Loan Forgiveness when they were not. Since it's better to learn from other people's mistakes instead of your own, I have compiled a list of the ten most common student loan mistakes I see healthcare professionals make.

So what does the NFL draft have to do with investing? Successful long term investing involves the same principals of diversification and managing risk. Just like the NFL draft isn't an exact process, there is nobody out there who can consistently pick individual stock winners over the long run. By spreading out your portfolio across different types of investments, if one of them under performs at a given time, there is a decent chance that under performance will be balanced out by one of your investments that outperforms expectations during that same time frame.

When you learn how to increase your credit score, you could potentially save yourself thousands of dollars on big ticket purchases. Not having a process in place for optimizing your use of credit could cost you thousands.

I'm a CFP­® and I've pretty much always practiced what I preached. However, I did make one financial mistake in my own life that almost cost my family dearly. It doesn't have anything to do with investing.

But depending on your credit and employment situation, there could be a few reasons for you to think twice before pulling the trigger on refinancing your student loans.