10 Money Mistakes to Avoid in Your 20's
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- เผยแพร่เมื่อ 25 ก.ค. 2024
- Let's talk about finances, specifically 10 things to avoid in your 20's and save that coin | Navigating Your 20's Pt. 3
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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
Retirement Calculator: www.today.com/money/suze-orma...
Calculator: www.daveramsey.com/smartvesto...
Aja Dang side hustle recommendations: • How I Make Money | How...
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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
I reccomend this book:
www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474
😂😂😂💋0096898601124
hello😍
From India..its really beneficial to watch your videos😊
This was super helpful! Do you know any good books about this personal finance topic?
@@TLauriks rich dad poor dad - the #1 best-selling personal finance book. have heard it's a great read
would kill to see a collab with Ashley (aka best dressed) now that she’s in nyc!!!
Kylie P yes!!! They've been hanging out a lot so it has to be coming soon (they've done one previously just fyi, idk if you've seen it)
YES ESPECIALLY ABOUT FINANCES 💗💗💗 everyone needs this.
yeeeeees pls
th-cam.com/video/FZkr7K6crng/w-d-xo.html
Yessss!! MAKE THIS HAPPEN 💖💖💖
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.
I’m with you!
Well it depends on where you want to catch up. Often, instead of coffeeshops, I have groups of friends who congregate in someone's house for chatting, games, food, etc. We may even go out after that, but the point is to first eat and drink at a house, which is always cheaper, even when we split, and then head out. We occasionally even cook meals together. This way, hangouts rarely involve too much money but instead, more quality time together, and in private
This is so true! I fully believe in living your life how you want and using any money you have left over to be utilized in a portfolio :)
It's also important to spend money at cafes and bars etc as it supports small local businesses and the economy, money needs to go in in order to come back out.
@@charlottehamilton7489 true! it's nice to spend money (not too much!) on small businesses (let's say maybe your friend or relative owns the place, which will help them!)
Three points in and i realize i’m too european 😂
Ashpyxiating same
Hahah yes! Sorry it's coming from my personal experience as an American 😅 The points closer to the second half of the video are more broad
Same hahaha
I'm very glad i don't have to worry about student debt, my pension or having to spend a lot of money for a medical emergency
omg same, for a moment there i was like wait do i have a retirement fund??
@@klara2321 How do retirement plans/pension generally work in europe? I'm intrigued haha
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.
I'm from Austria and i thought the exact same thing through the entire video!
Climate catastrophe. Lol. What a moron
@@Aaron-ir4he you good aaron? we are definitely in the midst of a climate catastrophe
*says climate catastrophe really casually while really not casually freaking out about impending catastrophe*
@Emily Stansil 70? haha not in France luckily but either way I don't have an income yet since I'm a student and like I said I'm most probably never going to retire either
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!!!
I hear you!! I didn't know anything until I was like 22. I would have loved university to teach a required class on it at least! Lemme know if you wanna talk!!
I’m 17 and I started working when I was nine in the fields. I was so used to getting money from a young age and wasting it . This year I had zero money saved up and I was like how is this possible since I had made 10k last year (I had two jobs) . You should listen to Dave Ramsey and Chris Hogan! They are great
Samia Rodriguez ah thank you! I will! I hate that this kind of stuff isn’t taught in school🤦🏻♀️
Makes sense
your hair.. ugh.. its just so beautiful!
Its a wig
@@janco333 jelly?!
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!
Eliza Mitchell there are actually sooo many videos on TH-cam about finances. My favorite people are Dave Ramsey, Gran Stephan and Aja Dang!
Dave Ramsey is AMAZING!
@@churelle I think it's Graham Stephan actually if anyone's looking him up but yes!!! love them!!
I recommend the channels Two Cents and The Financial Diet
@eliza mitchell omgggg ikrrr i was thinking the same thing
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!
can i ask what your major was? i am literally wanting to do the same things you mentioned...im scared, lol!!!
How are you liking being a lawyer?
Hi I’d like to know too!
YES ELENA the retirement talk is so important 👏🏼 let's take control of our money ppl
I make over 10 000 per month at FRO ZEN PA.C OM
"Buying a new car is one of the worst financial decisions you can make" --- sooooo 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!!
Thanks for the shout out! Love seeing other women on TH-cam talking about finances
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!
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.
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
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.
My favourite moment of the month is sorting my salary into different saving pots so I absolutely loved this video PERSONAL FINANCES HECK YEAH
Martine Skaret YES SAME
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
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!
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 😃
Great video, Elena! And so so so helpful. Can’t believe I’m almost 22 and haven’t ever really thought about this! I would love to see more videos on this topic, maybe in a little more detail. Truly appreciate your wisdom and eloquence!
This is so helpful!!!!! Definitely recommend the side hustle part
I don't know why not a lot of TH-camrs talk about these. So thankful for these tips. I feel like I know them, but it's nice to be reminded and really keep these in mind. Thank you!!
PREACH IT SISTA! I appreciate you also organizing the different categories down below. Thank youu!
thank u so much elena
I find this video very helpful! I'm a big believer on the "spend like you're broke"? mindset and that has helped me save quite a lot of money without even thinking about it!
Thank you soo much for making this video. It's such an important topic in adult life that doesn't really get explained to you unless you seek it out. Some really great tips as well. I hadn't considered starting a retirement fund until later in life, but after hearing you talk about it I plan on starting one soon.
Elena this video is so helpful for others our age I feel ❤️ I’ve done a lot of the things that you said! I feel that although it’s tempting to rush into buying the next best things, all of these tips will help us be stress free in the future!
This video just randomly popped up in my recommendations and I am so happy it did. There is so much terrible and honestly just unreasonable financial advice out there. Most of it is a bunch of smoke and mirrors as well and they throw around numbers and terms that mean nothing. This video is absolutely perfect for 20 somethings. Simple tips with a great explanations that are easy and sensible to follow. Nailed it!
Yes! I love a smart lady that talks about finance!
I would suggest to everyone, listen to the podcast she’s on the money 🙌🏼 it is a podcast all about empowering and educating girls to be financially independent x
Where can we find that?
@@Different-Level You can find it on spotify
agreed
There are 2 of them with the same name :) which one you can recommend - with Molly Benjamin or Victoria Devine?
@@alarud The one with Victoria Devine. You can access it on Spotify :)
This is SUCH great video and so well done and explained! So many people need to hear this (including myself)! Thanks Elena! Love watching your videos
Love this video and these types of conversations! I’m a recent grad as well and not nearly enough of my friends are having this conversation!
Money gives me anxiety , this makes me even more anxious :(
Same i don't like dealing with money lol money and people give me the most anxiety
Learn how to make it work for you
12% annually is far too high. 6.5% is the recommended average return to use when calculating your money's future value.
I agree!
This was one of the more helpful finances videos out there! Thank you for the great content!
Totally! So many things we don’t think about that really set us up for financial freedom at an earlier age!
This was such a great video! I feel like many people think these points are common sense, but if we aren't taught it in school or by our parents, it's so easy to make these mistakes. Definitely reminded me of some things ive been procrastinating on (like a RSP) so thank you Elena!!
Thank you for all of this! Bunch of super helpful tips in an understandable format. I am going to have my first full time job soon and this was all good stuff to hear.
Really love your financial education videos! ❤️ hope to watch more of this category! ☺️
I’d love a full video on getting into the “college broke” mentally. I work a standard, minimum-wage part time job, but ever since I started college and was able to receive some grants, any money saving skills I had seem to have gone out the door :( I’d love a gentle reality check lol
this is a great idea!!!
Hey! I graduated last year and i'm working a full time job in my field, meaning I am no longer "college broke", but I still spend very little and save/invest approx. 50% of my salary. If you make goals for your savings, it helps to view your income as smaller (ex. if your paycheque was $1000, but you make it a priority to put $400/month into your savings accounts, it's easier to accept that your income is only $600, aka you still feel broke, and spend accordingly).
Me fucking too!! This stresses me out sooo much but I need it ugh
It’s just too easy to spend money that is sitting in my checking account. I set up an autosave rule on my checking account that transfers a certain amount of money to my savings account whenever my paycheck is deposited.
Thanks for creating this video!
Loved this! You should do a video talking more in depth about how you got into doing side job/freelance media work!
This video is seriously one of the best financial tips videos that I have seen! It lightly touches on 99% of the *most* important topics.
This video was well organized and had great tips! Thank you!
These were awesome tips! You explained them so well to make everything really easy to understand!
OMG I loved this video. You explained everything so easy!
This video is perfect! thank you for giving us excellent tips xx
This video is life-saving! Thank you Elenaaaa ❤️
this was insanely helpful and informative!!! felt like u were the big sister i never had giving me life advice... thank you!!
This is super helpful, definitely getting a credit card asap!!
Such a wise woman! Great advice(: Thank you for this
This was so helpful, I loved it! Thank you!
I love these tips and love the quality of the video, not only the camera quality but all the visuals are really nice
you’re so amazing for this!!
Very informative! thank you so much for this video!
Elena, you're very smart and wise at such a young age. Your older self will thank you a million times over! Good for you!
thankyou SO MUCH Elena! this is SUCH an amazing video!
Wow, these are all really great tips. I was losing sight of my finances after graduating. Now it's time to get back on track!
I'm so glad that youtube recommend this video to me. This is exactly me right now 💕💕
Thank you so much, this video was so helpful!!! We love sisterly advice
This was actually so helpful, thank you!
okay as someone approaching their 20s this video is OH so good to hear
Really good concise video. Thanks for this!
This was extremelyyyyy helpful! So much insight and thorough explanations. Most of these types of vids I've seen have been just like don't buy designer or something. Great vid, as a 20 year old I found it very beneficial!
I will literally turn 20 in 10 minutes, I would definitely use some of this tips
mashu M. Happy birthday!
happy birthday!!
Happy birthday!!
Happy birthday!
Happy Birthday!!
Thank you, this was really valuable content ✨ would love to see more of that♥️
This video is great. Very accurate and to the point.
This was really awesome...Thanks! Love the video!
IM OBSESSED WITH YOUR CHANNEL. PLEASE NEVER STOP MAKING VIDEOS !! (:
-much love from california !!!
Thanks, Elena! I'll be turning 20 next month and this video helped make me feel like I'm on track!
When it comes to groceries I tend to buy the off brand essentials like rice and pasta. And also try to not buy too many quick meals they tend to be more expensive and you’ll go through it quickly
SUCH A GOOD VIDEO!!!! I sent this to multiple people. You are so smart and amazing and you made this fun to watch love youuu elena❤️❤️❤️
Honestly, I feel like I should be taking notes, so I'll defiinitely revisit this later. A lot of times people have these videos with unhelpful/basic info, but you started out with retirement and emergency? Stuff that honestly my parents aren't even good at or open to sharing with me, so thanks.
Ah yay! I'm do glad to hear this was helpful
Now that you started to talk about finance, subscribed!
These are really good tips !! Thanks for recommending those apps to buy furniture off of, I’m looking to move out on my own and don’t want to spend ridiculous amounts of money furnishing the place so thank you!
I love this advice! Thank you for breaking down such useful tips -- maybe you could do a video on taxes as well
I really love all your financing advice video! Thank you!!!
Such a great, helpful video dude!!
Since this is finance based, I hope your CPM on this is SKY HIGH
i do all of these things whew just needed to make sure i wasn't missing anything great vid
You brilliant young lady. Thank you for sharing this. 🤗🙏🏼🧙🏼♀️
such great advice, amazing video elena!!
Hello! I'm a Graham fan....yes, I subscribed and hit the like button ;) I love your videos because I think they will resonate more with my nieces. This will be great for them! Thanks!
i’m currently dropping out of college because i can’t afford it. i truly needed this video now to try to help me figure out what i need to do to move forward. this video is much appreciated!
Evan Ashley same bro
Agreed
@evan Ashley look into cloud computing jobs!!!
This was so so so helpful. Thank you.
loved this video, very helpful for when you're first preparing for the real world :)
This really encouraged me, thank you!
Omg I needed this video ! Thank you!!!
This was really helpful and I really love your personality :) Thank you!
Thank you for making such an informative video! I hope I can apply some of these tips in my daily life since I‘m 20 and have no clue how to manage the little amount of money that I have 😅
Love all these tips, these are the same ones I would have said! I ESPECIALLY stress the credit cards and having multiple. I was always told that was a bad thing and that will hurt your credit when you close accounts, but it's what has allowed me to build an amazing credit score in just a few years! Plus I prefer seeing a bill at the end of the month instead of money leaving my account by using a debit card cause it makes me more aware of how much I spend every month!
This was super helpful thank youuuu
Yes!! Just what I needed😊
Ocean eyes and wise advice, I find you kind and elegant
Thank you, Thank you, THANK YOU!!!
I’m 17 now but these tips definitely come in handy as I’ll be studying overseas and I’m trying to be financially independent! xx
Really loved this video!
Thank you for your video! It definitely helped me with looking into how I can save for the future :)
this was soooo crucial!!! 💫💫 thanks for videos like this. make more if you'd like to!🥰
this was seriously such a great video!