Money Traps to Avoid in Your 20s

I see a lot of 20-year-olds make some of the same money mistakes when I was in my 20s. If I could shoot this video and tell my younger self to avoid these traps or pitfalls I would be so much better off financially today.

#1: Not Contributing to Your Employer's 401(k), Retirement Plan, or an IRA.

#2: Buying an expensive car or new vehicle instead of pre-owned.

#3: Student Loan Debt

#4: Owning Pets too Soon

#5: Excessive Purchases of Alcohol and Eating Out

#6: Using Credit Cards when You Can't Pay the Balance Each Month!

#7: The last one is not setting Realistic Financial (Money) Goals for your 20s.

You can make time and money work for you a whole lot better than I did because you are still young enough to start earlier than when I did. Start thinking about where you want to be financially when you are 30, 40, 50, etc. If you start doing this and write those goals down, you'll be so much better off than the majority of your friends and family. you will be able to avoid the money pitfalls and traps that so many of us have made.

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