After working with over 150 people this year, I am convinced that these are the top four biggest money mistakes people make while in their 20s. And oh my lanta how easy they are to fall into.
Knowledge is power.
Being aware of these mistakes will help you from falling into the victim mentality in your 30s.
One of my favorite people I’ve worked with is in her early 20s. She had a coming to Jesus with her student loan bill and is began realizing how much money she has to pay back. It’s a sad day when you the student loan bill hits you like a rock and you conclude that no one is going to pay back your debt.
Many would call this “rock bottom.”
She was so upset because the debt will push her dream of buying a home out five+ years. We were both almost in tears. I went home more fired up than ever before. Way too many young people are forced to push their dreams and goals out further because they are not being taught student loans are normal, your 20s are for having fun, and you will make $40-$50K right out of college.
Although I was heart broken, part of me was rejoicing! She is taking control of her life at a young age.
I’m so thankful she is taking back control of her financial life now. By the time she is 30 she will have no debt, a full six months in her “oh sh*t fund,” and be putting away money towards retirement. She will be in a great position to achieve her biggest goal- buying a home.
The video below detail the four most common financial mistakes people make in their 20s that absolutely kill their chances of financial success in their 30s and 40s.
My goal is to help millennials kick butt in life.
This debt-epidemic is killing productivity in the workplace (employees are not working at full potential when they are stressed about money), being contributing members to society (can’t help other people when you can barely take care of yourself), and killing our economy (wait til the nice $1 trillion is government guaranteed loans blows up).
Don’t let life happen to you. Happen to life. Create a future you will be proud of by laying the foundation today.
If you need help with your financial plan- check out my online workshop.
It’s going to be glorious!
Best,
