Many of us overlook how much the decisions we make in our 20’s – a time when we feel more free than ever but are still incredibly vulnerable – can haunt us for the rest of our lives. On the other hand, if we establish healthy habits and invest our energy and money the right way, we can easily set ourselves up for a much easier life down the road. The point is, what we do in our 20’s can make us or break us in our 30s, 40s, 50s and beyond.
When it comes to financials, Larry Alton, an Independent Business Consultant, says these are the biggest money mistakes a person can make in their 20’s:
- Allowing credit card debt to accumulate
- Failing to save for emergencies
- Living without a budget
- Living at or above your means
- Letting your credit deteriorate
- Going without insurance
- Ignoring your retirement options
Alton adds some helpful advice saying: “it's important to balance your present wants and your future needs, and make the best decisions you can in most situations you face; you'll thank yourself later.”
Source:inc