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The Top Money Mistakes People Make in Their 20s Are you guilty of these short-sighted financial mistakes?

By Jeff Rose

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Jeff Rose discusses a few negative financial habits that people in their twenties should avoid:

  1. Debt denial. You should not sweep debt under the rug, instead you should concentrate on paying debt off gradually.
  2. Not investing. Despite what method you choose to use, simply start the process and familiarize yourself with the options
  3. Avoiding smart risks. Rose notes that too many young people opt to simply hold their money in cash, which will limit your bank account later in life.
  4. Failing to make big goals. Rose points out that failing to make big goals is an unwise move for young people, simply because they have so much time ahead of them to build savings and returns.

To hear all of the money habits 20-year-olds should try their best to avoid, click the video.

Related: How to Make Promising Opportunities Come to You

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Jeff Rose

Certified Financial Planner, Author and Blogger

Jeff Rose is an entrepreneur disguised as a certified financial planner, author and blogger.  He's best know for his blog GoodFinancialCents.com and book, Soldier of Finance: Take Charge of Your Money and Invest in Your Future.  He's also the editor of LifeInsurancebyJeff.com. He escaped a path of financial destruction from dropping out of college with over $20,000 of credit card debt to become a self-made millionaire. His mission is help future generations achieve financial freedom by developing strong money habits and unleashing their entrepreneurial spirit.   

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

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