7 Money Pitfalls To Avoid In Your 20s

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. As someone who has seen tons of people dig themselves into a financial hole before their 26th birthday, here are 7 money mistakes to avoid in your 20s

7 Money Pitfalls To Avoid In Your 20s
0:10 - You’re done with college & enter the real world - but you were never taught how to manage your money
1:07 - Don’t lose $8,000 in seconds with a brand new car
2:06 - Downsize your vacations while you’re young
2:45 - Never finance your cell phone
3:13 - Not investing your money while you’re young
4:28 - Too much partying
5:39 - Don’t let your banker be your financial planner - know what you can afford
7:15 - Thinking that your job is the end all be all

What Is The Minority Mindset?
The Minority Mindset has nothing to do with the way you look or what kind of family you're from. It's a mindset.

Give the majority $200 and they will come back with a pair of shoes. Give the minority $200 they will come back with $2,000.

Think from the mindset of a consumer and be the provider, that's the Minority Mindset. Don't be the majority. #MIH #ThinkMinority #FinancialLiteracy

Twitter: @M2JaspreetSingh
Personal Instagram: @M2JaspreetSingh

Video host: Jaspreet Singh
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1) Buying a new car
2) Spending a lot on vacations #instagram
3) Spending too much on phones that you can't afford
4) Not investing enough
5) Partying too much (I'm definitely guilty of that)
6) Just putting your money on the bank
7) Not thinking about hustling and making money next to your job.

BrainsApplied
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Biggest money mistake you can make is buying things you cannot afford in order to impress people you don’t like who really don’t care what you have. 🤷🏻‍♂️🤦‍♂️ you’re letting other people’s judgement of you dig a deeper financial hole doing this.

OscarMartinez
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Doing things right in your 20s can make the rest of your life a lot easier

TheLifeFormulaa
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“Formal education can make you a living, self education can make you a fortune” Self education is basically being street smart, that’s why the say people who are book smart and hood smart are worth their weight in gold lol

Fatcamp_tig
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Please listen to him. He's telling the truth. I am 58 years old. Everything he says is true. I did not hear about investing and managing money. I did all the wrong things he talked about. As a result, I have little to show for over 40 years of working.

tomt
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Avoid credit cards if you don’t know how to use them. If you know how to use them they could be a great asset but educate yourself by watching this channel 1st.

SeanLunny
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*Be broke several years and pursue your passion, to reap the fruits of your hard work till the end of time.*

ossen
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I work for a bank, and i must say you're brilliant.

shahzeb
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*Biggest mistake i see 20 sumthings making with their money is going out all the time, spending money a lot of money on clothes and vacations for all their hard (t)working in da club(they call it traveling to sound less frivolous). Or they dont spend nearly enough time self-improvement (guilty as charged on this one).*

Je.rone_
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From my experience seeing how it effects so many people, debt overall is the biggest thing to avoid while young.

RealLifeMoney
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To YOU reading this, 6 months from now YOU will be in a better situation! Hope our channel helps !!

HowellConsultations
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That rule has been very helpful for me If you can’t buy five of them you can’t afford one .thank you

erickcazares
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Thank you Jaspreet. We need to understand how money work. If not, you will work for money until die.Learn to make money work for you.

FaizmanConsultant
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When i was 19 i bought my first car it was a 2017Nissan Altima! I paid it off two years later. I’m 21 in school and most of my money i made by shuttle driving for the hilton. Surprisingly you can make a lot of tips driving ppl to and from the airport. I still drive the car to this day I’m 21 turning 22 this summer with 22k in savings. I recently bought a 2018 Nissan Titan so I’m in debt but not too much debt.

Shave-ice
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The importance of being financial aware in your twenties can't be stressed enough! This is the age you have enough energy to hustle and set yourself up for future financial success. Thanks for these great warning signs. It sucks that so many people are stuck putting on a show of their wonderful, exorbitant life on social media rather than using it to really build the life they want.

TheNavdeepKaur
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Schools need to play this video for all their students

MemeGang
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Getting into huge student loan debt is a big one. This is what's ruining lives of many young people.

LuisQuintanilla
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I have never subscribed faster in my life. This channel is a gem. Keep up this good work and you will be very successful!!

MisterRandom
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Thanks alot jaspreet, these videos are hidden gems

osoarrogant
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My friends keep asking me if I own a Nintendo Switch. NO I STILL HAVEN'T BOUGHT ONE YET!

Nintendo Switch price:
$300

Stocks I'm buying tomorrow:
$500

spektred