Biggest Financial Mistakes I Made In My 20's

I made A LOT of mistakes in my 20's, and a lot of them were financial mistakes. Today I'm sharing the WORST financial mistakes I made in my 20's and money choices I regret making.

My Financial mistakes include:

1. Buying trendy clothing/fast fashion: I bought fast fashion pieces I wore only a few times before I donated it away becayse it was too trendy. They were a complete waste of money and they cluttered up my closet. Now I buy classic pieces that flatter my body that I can wear year after year.

2. Not looking at my monthly or weekly spending

3. Constantly increasing my means with my income
This is a little something called lifestyle inflation. A big mistake is just inflating your lifestyle to match this your growing income, instead of using the new income for smarter things like rapidly paying off student loans, maxing out retirement, investing, or saving.

4. Not contributing to a retirement account
The minute you have a job that offers retirement benefits...take them. Don't wait "until later."

5. Purchasing one-and-done items
These are items you bought for a single event that you're never going to use again. I'm guilty of buying SO MANY pointless one-and-done items. They were a waste of money and a clutter-collector at my house. Good riddance.

6. Not living with a budget

7. Buying a new outfit for every event that popped up
Instead, I've swapped a ton of "eh" pieces out for a few pieces I really love. Not only does it make the dreaded "what am I going to wear" question a lot easier, it keeps my closet a lot easier to organize and my wallet a lot happier.

8. Getting caught up in the lure of "deals"
Just because somethings a great deal doesn't need I NEED it. Now I prescribe to the idea that I'd rather spend full price on something that ends up with 5 items I don't need because they were on sale.

9. Waiting too long to actively pay off debt
Your 20's can be debt accumulating, and waiting too long to actively pay it off can be a big mistake as you prepare for you 30's.

10. Using money to cure boredom:

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Where else to find me:

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Disclaimer: This is not a sponsored video. I do not accept products in exchange for a positive review and so all thoughts, opinions and words are my own. All products were purchased with my own money unless marked with an asterisk (*). An asterisk signifies a product sent to me for review or as a gift. Some links in this description may contain affiliate links.

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Hi I'm Kallie Branciforte from But First, Coffee! I'm glad you found my video! I'm the content creator for the blog and YouTube channel But First, Coffee.

Here you'll find videos on topics like best drugstore makeup, DIY, beauty tutorials, life hacks, and everything else a well-caffeinated woman needs to know! IF IT SAVES YOU TIME OR SAVES YOU MONEY...I'M MAKING VIDEOS ABOUT IT!

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[murphy]

Please save for live a good retirement & not just do nothing. If you want to spend that time traveling & seeing things, places & ppl, it takes lots of money to live comfortably. Save, pay off everything before retiring. If you want a winter home after retirement, buy it before you retire. Coming from someone who knows that it pays to save, save, save.
Mary

[Secretcrushonglam]

For those of you who worry about being caught in the same outfit twice... People won't remember your outfits. Most people really have better things to do than to keep track of every outfit they ever encounter on any single person they meet, so just don't worry about it! Just think of it that way: you probably don't remember all the outfits you've seen all your friends, family and colleagues wear, right? So why worry ?

[OxygenPeople]

one great trick, which works for me, is the 3 day rule. If i see something I feel I need or want I will contemplate buying it over a 3 day period. If after the 3rd day I don't have a desire or need to have the item, I won't buy it. I have saved so much money using this rule and it has drastically cut my impulse spending

[KraftyScorpio]

Mistake of my 20s which translated into being a financial mistake was wasting time! I stayed at the same dead-end, low-pay job for too long because I was afraid to leave me comfort zone. I should have quit that job sooner or used that time to do something to make myself more marketable which would have gotten me a better paying job sooner.

[andreawaite]

Great advice! One mistake I managed to avoid in my 20s (and am still avoiding in my 30s) is the idea that the "latest and greatest" of anything is necessary. I was in my 20s when the iPhone came out. I've watched as my friends go into debt to buy the latest version of whatever phone, even though the one they have is working perfectly fine. You don't have to buy new either - I've had great luck with refurbished phones that come from a reputable company with a guarantee.

[parameshbalu]

Great video Kallie! I’m in my mid 20’s and can totally relate to buying things on sale and using money to kill boredom.

[lornaduwn]

Not buying one and done is great advice. When decorating for holidays DON'T buy holiday specific items. That Christmas tablecloth might be tempting but it's going to get packed away and not used until next year, and then you are stuck with the same look every year. A red table cloth can be used for Valentine's Day or July 4th. A green one can be used for Saint Patrick's Day or Easter. Just set it off with a holiday centerpiece or placemats that also can be used for other holidays. Also a vacation souvenir tip: DON'T buy something that is just going to clutter up your house. Buy something that you can hang on your Christmas tree. It doesn't actually have to be an ornament as long as you can turn it into one, for example a key chain. Not only will this save you tons of money from buying something that may just end up on a yard sale table, but every Christmas you will be reminded of your trip.

[brahmabkitty]

These are good points! I was actually more fiscally responsible in my 20’s before my dad died than I am now

[miminelusma]

Omg!!!! Girl this just happened to me literally 2 days ago! I end up spending over $400 at ULTA just because they were having a 5X points on perfume. It's after I regretted it. I can always use perfume but it wasn't necessary.

[whitmac]

Great video! I turn 30 this summer, and I am working actively to pay off the last little bit of my student loans and car loan! I can’t wait to be debt free....I am definitely the one who spends money out of boredom. I get bored and go to Target. I’ve been trying to go for a walk with my dogs instead!!

[SouthernBelleReviews]

I have NEVER been into fast fashion and never will be! I still wear clothes from when I was 15, and I'm almost 30!!!

[BibiLilibeth]

I love this video. I will be saving this so I can rewatch it every time I need to think about my financial choices.

[raeoflight]

Thanks so much for sharing. Great video and blog post!

[jfr]

Mistakes that are made in any age! Great advice!

[SejalShah]

Thanks for sharing this! Awesome tips. Will surely help..

[manuelmolina]

Great advice video... Thank you Kallie. ☺️👍👍

[PriyankaMalagi]

I definitely needed this in my life! I'm close to 30 and I was nodding my head at everything you said. Well done!

[paigeekakes]

I LOVE YOU 😭😭😭😭 you make me feel better about all my cc debt 🙏🏼 going to rewatch your budget video now

[meghanpierce]

Very helpful!! I just turned 20 a few months ago so im definitely going to take these tips into consideration!

[annerohrbacker]

One and Done items... Definitely guilty of that in the past, but so over it now. Woohoo!!