The 5 WORST Money Mistakes To AVOID In Your 20's

These are the 5 WORST Money Mistakes people make in their 20’s, and how to avoid them!

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Also, I want to credit Graham Stephen for this idea and inspiring me to put my take on the subject!

Student Loan Debt: Im going to be honest it’s one of the biggest mistakes of my life. Because at the end of the day, you graduate from college owing nearly an average annual u.s. salary as debt instead of beginning your career and investing as early as you can. Now I will say this, If want to become a doctor, lawyer, or an engineer…. The yes, go to college that makes sense.

Destroying Your Credit: This next one is super important! I have gone from not having credit, to building great credit...To destroying my credit, and then building it up. And I have to say, building and maintain good credit is the path to choose. Basically anything in life was very difficult to do when you mess this up. Don't take your emotions out on your credit cards! This move right here is what levels you up from being the prince of financial mistakes… on your way to king status.

Partying: Let me just get serious for a moment and warn you guys to really don’t let this get out of control. As a matter of fact I would recommend just making it a rare occasion or just not doing it. It really does have a huge impact on not just your finances but on your body, and your mental health. And before you know it by the time Monday morning rolls around you’ve spent that $1300 check that worked 2 weeks for… down to $300 in 2 days.

Living Out Of Your Means: When you’re constantly upping your lifestyle every time you make more money, you’re just staying in the same spot as you were before. Sometimes even worse if for whatever reason something happens and you don’t put aside a savings. When you’re young you want that nice BMW or G Wagon and once you get the money you want to go out and get it purely for status. And usually what happens is you end up just working even harder so you don't even spend time at the expensive house that you’re paying so much for. Be smart and live rent free as long as possible, and save your money. Living free is a rare gift, so don't take it for granted.

Not Budgeting: One of the worst mistakes that's made by majority of people, including myself, which is not budgeting and keeping track of finances. I like to use the app Mint because you can put everything l ... https://www.youtube.com/watch?v=hwontLgNYVk