10 Money Mistakes to Avoid in Your 20's

Let's talk about finances, specifically 10 things to avoid in your 20's and save that coin | Navigating Your 20's Pt. 3

1:08 Not starting your retirement fund ( the earlier the better!!)
3:28 Not having an emergency fund
4:17 Get a credit card (but avoid debt)
6:20 Spending too much money on rent
7:33 Buying a new car
8:31 Not comparing prices
9:29 Not having a frugal mindset
10:15 Not having a budget
11:05 Having just one stream of revenue
12:04 Not having financial goals

Some great podcasts to learn from:
Best for Finance Beginners: So Money
The College Investor Audio Show: Best for Students or Recent Grads
The Fairer Cents: Best for Women
Money For the Rest of Us: Best for beginning Investing
The Dave Ramsey Show: Best for getting out of debt and saving for the future

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[ElenaTaber]

To make it easier for you, here are the money mistakes to avoid in case you want to skip around to learn more about certain topics: 
1:08 Not starting your retirement fund ( the earlier the better!!)
3:28 Not having an emergency fund 
4:17 Get a credit card (but avoid debt)
6:20 Spending too much money on rent 
7:33 Buying a new car 
8:31 Not comparing prices 
9:29 Not having a frugal mindset
10:15 Not having a budget 
11:05 Having just one stream of revenue 
12:04 Not having financial goals

[kyliep]

would kill to see a collab with Ashley (aka best dressed) now that she’s in nyc!!!

[smilesam]

Whenever I hear the critique of spending too much money on dinners, brunchs, drinks, etc., I feel like there's a failure to acknowledge how much eliminating such things would hurt your social life. It's a fair critique and most of us do spend too much, but you also can't just do movie nights at home all the time. Having friends and seeing them and having fun costs money. I think it's important not to spend too much, but also you don't want to be so concerned that you end up never seeing friends cuz you're unwilling to spend a few bucks on a cup of coffee for a catch up.

[Katechap]

As a 19 year old freshman in college, I feel SO unprepared for the real world!! My family never really talks about money and even when I have questions it's brushed off with "we'll talk about that when you're older." Um, almost 20 over here, trying to handle my money well with no experience or guidance. So thank you for making practical, well articulated videos like this!!!

[suzonmztd]

As a 20-year-old living in Europe (France) this video is not very relatable but still interesting to watch! We don't need to save for retirement ourselves since is taken directly from our salary (plus I don't worry about it too much because of the climate catastrophe), we don't use credit cards but only debit cards and I don't plan on a having a car since we have public transport available.

[othermonica]

your hair.. ugh.. its just so beautiful!

[douloureux.]

Three points in and i realize i’m too european 😂

[queenlyzzye]

When I graduated from college, I couldn't find a job to save my own life. I wanted to work in the public relations industry, hotel industry, and the fashion industry. I applied to 100s of jobs. I was not successful after one year, because everyone wanted 5 years of experience for 30-40k a year! It was absolutely disturbing. I ended up going to law school and becoming a lawyer. It took me getting into 100s of thousands in debt to find a job that pays decent in order to survive. I would advise any 20 year old to not be so hard on yourself. It's tough being a millennial! I started working at 29, and I started saving for retirement at 30 (besides the 401k). Although its not the ideal situation, it's not too late to make sound financial decisions and prepare for your future!

[elizamitchell]

it’s nice to know what you should do, but HOW do you go about actually getting started? no one really talks about the specifics, the steps by steps, the practical tips. please make more detailed videos around this subject; so interesting!

[olgacotaga]

"Buying a new car is one of the worst financial decisions you can make" --- true! Also, it's the second worst thing for the environment :)) It makes sense to not own a car in NYC. I live in London and here's the same. The car takes longer than the tube!!

[AjaDang]

Thanks for the shout out! Love seeing other women on YouTube talking about finances

[AbigailSmith]

I like that you’re talking about finances and agree that not enough of us talk about them! Budgeting helps with saving so much, and even just looking at the numbers and roughly tracking them is helpful.

[martineskaret]

My favourite moment of the month is sorting my salary into different saving pots so I absolutely loved this video PERSONAL FINANCES HECK YEAH

[KiaraMadisen]

YES ELENA the retirement talk is so important 👏🏼 let's take control of our money ppl

[kirabreeden]

Hi Elena, I so rarely comment on youtube (I am definitely a silent viewer) but I just want you to know that I am SO GLAD you shared this with us. You are so right that this sort of thing is not talked about enough among us 20-something-year-olds and it should be! These are seriously great tips! Great video!

[Julianna]

This is so fantastic, I too am a recent graduate and 23yrs old. Everything you've said needs to be blasted to our generation. I would also recommend for anyone who's going in to their first salary paying job to immediately go see a financial advisor at the bank with whom you have a checking account with already. They absolutely LOVE it when you come in and they give you FREE 101 guidance, whether its opening your first retirement account, or opening your first credit card. Thanks for this content definitely important!

[LILYLEFFINGWELL]

These tips are so accurate. Thankfully my parents raised me like this and it helped SO much starting my first job out of college this year

[artyshefartsy]

You are so amazingly well-spoken and I really appreciate this video! Finances are criminally underrated in our 20s and I think it's so important to have someone guide us in the right direction! Especially someone who is going through the same things we are.

[matildaonvideo]

So glad you spoke about this Elena! Finance and spending within your means is such an important topic in your twenties. Working hard to have multiple income streams and staying in a saving mindset has been key for me. I also have a budget spreadsheet where I record *everything* and it's fascinating to see just how much the small things can add up! x

[kaitlinmiller]

Okay, I just want to give a formal THANK YOU!!!! 🙏 I’m 22 and completely freaking out about my finances. I‘m almost finished with college and I still feel inadequate with my finances. I’ve been so stressed out about it, but now I feel like I have some clear steps to follow for the future! Great video 😃