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Personal Finance

The Top Money Mistakes People Make in Their 20s

Are you guilty of these short-sighted financial mistakes?
Guest Writer
Certified Financial Planner, Author and Blogger
2 min read
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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