Hello guys,
I’m not gonna lie, my 20s were a wild ride. I made some beautiful memories, but I also made some pretty important money mistakes.
Looking back, I realize I was careless when it came to my finances. I didn’t have a clue what I was doing, and it showed.
But here’s the thing: I learned from those mistakes. And now, I want to share them with you so you can avoid making the same errors.
Mistake 1: Not Starting to Save Early Enough
I’ll be the first to tell : I was a total slacker when it came to saving. I didn’t start putting money away until my mid-20s, and it was a real struggle to get started. So what’s your opinion in that?
But trust me, it’s worth it. Even if it’s just 500 or 2000 a month, get into the habit of saving. Your future self will thank you.
Mistake : Not Paying Off High-Interest Debt
I had a credit card with an huge 20% interest rate. And yeah, I paid the minimum payment every month… but I didn’t tackle the principal balance until way later.
Don’t be like me! If you’ve got high-interest debt, make a plan to pay it off as soon as possible. Consider consolidating debt into a lower-interest loan or credit card.
Mistake 3: Not Investing in Myself
I didn’t invest in courses, training, or even books to improve my skills until way later than I should have.
Big mistake. Investing in yourself is one of the best investments you can make. Whether it’s learning a new language, taking online courses, or attending workshops, don’t be afraid to spend money on yourself.
Mistake 4: Not Building an Emergency Fund
I didn’t have an emergency fund until I was forced to create one after a job loss.
Don’t wait until it’s too late! Build an emergency fund to cover 3-6 months of living expenses. Trust me, you won’t regret it.
Mistake 5: Comparing Myself to Others
I spent way too much time comparing my finances to others. And let me tell you, it was exhausting.
Don’t compare your finances to others! Focus on your own goals, your own budget, and your own progress. You got this!
There you have it – the top 5 money mistakes I made in my 20s. But here’s the thing: I learned from them, and now I’m passing those lessons on to you.
So, which of these mistakes matches with you the most? Let me know in the comments below!
Happy learning, and until next time….
By:
Moon.