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5 Money Mistakes 20-Somethings Should Avoid

We’ve already talked about the general money mistakes that majority of the public do. However, I’ve decided to take it a step further and focus on the money mistakes that most 20-somethings do.

After all, who is more qualified to write about this than a fellow 20-something, right? I totally feel your pain, friends!

money mistakes that 20-somethings should avoid
Are you guilty of these, 20-somethings?
Come on, I know you want to read about these money mistakes. You want to be able to know what you’re up against, right?

1. Falling into the trap of lifestyle inflation.
You can either be a fresh graduate or a senior employee – the amount of your salary doesn’t matter! What matters is where your salary goes.
Does it happily go to investments? Is your bank account healthy? Is your investment portfolio progressive?
Or does your salary sadly go to luxury purchases? Do you have a love-hate relationship with your bank account? Do you have any idea what an investment portfolio is?

Believe me, I’m not trying to sound like your mother here. I’m trying to sound like a concerned friend.
Having money that you worked for really lets you feel that you’re in absolute control. So does this mean that with your new job, you immediately need a new condo, a new car, a new set of clothes and a new gadget to go along with it?
For the other 4 money mistakes, kindly head on over to Rappler for my guest post on “13 Money Resolutions for 20-somethings This 2013 there.
Let me know what you think about it by emailing me, okay?

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Live wisely,

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