My Worst Financial Mistakes — How to Avoid Them

Here are 9 stupid money mistakes I made in my early 20s. I don’t want you to make the same mistakes because honestly these could all have been avoided. Not only could they have been avoided, all of these mistakes could have been fixed in a matter of minutes — they weren’t tied to big life changes or long projects that kept me out of track. They were just dumb mistakes.

We're going to talk about credit cards, mortgages, budgeting, expenses and more!

↳ Timestamps

00:00 - Introduction

- Conclusion and Key Takeaways

↳ Links and Resources

↳ Credits

✽ Editing: @MaryAmongStories
✽ Motion Graphics: Jump Cut
✽ Stock imagery and footage provided by Getty Images
✽ Music provided by Epidemic Sound

↳ Connect With Me

☰ FTC Disclaimer
This video is sponsored by Brilliant

[RespectfullyCurious]

You can't fix what you don't measure. So many people don't even track their expenses or know where their money is going at all. I think that one task alone can solve a lot of problems.

[rebeccachang]

I have been set the notification of transactions as soon as I started my current bank account to track my expenses. And yes, I have the exact same habit for saving the expenses occur every 6 months in an envelope 😂

[FlyanTV]

Selling used stuff actually is a lot of trouble and I stopped doing it after a few years. The time it took could have been invested much better and that's what I do now. People are the worst.

Investing in terms of money as soon as possible is a very good idea! However, in my case and probably many others, in your twenties and early thirties, you just barely survive and have nothing left to invest. I always led an extremely frugal lifestyle, not exactly by choice, but necessity. Small, cheapest available apartments, no big travels, always self prepared foods, no car, buying second hand or not at all... Still, I often ended up in the minus at the end of the month because student jobs and junior positions in engineering do not match the expenses of living. (Central Western Europe). Luckily, my parents supported me so that I never had to go into debt. It wasn't until the age of 32 that I had a monthly surplus through increased salary. Since then, I countinue to live the life I had before but invest the surplus. It's a really good idea to do so!

[medolly]

I turn 20 in less than a month! Thank you so much for the tips and warnings!

[bhsprinkle]

I don't like credit purchasing or credit. My Stepdad insisted it was necessary but I could go without.

[karolinakwiecien]

Which home banking app you recomennd? As well the books about investing ?

[aidatulhjr]

Hi Mariana! If you’re interested to diversify your investment portfolio into (physical) gold savings, let me know & i’ll contact you with the details 😊