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Financial Mistakes Everyone In Their 20s Makes
When you’re in your 20s, you don’t have all the answers — not even close. So it stands to reason that you’re going to make a financial misstep from time to time. Hey, we’ve all been there at some point(s).
Even the smallest financial mistakes can feel big when you’re in your 20s. You don’t have all the real world knowledge to really prepare for the future. So let’s go over some ways that you younger folks can avoid these unfortunate (but understandable) financial mistakes.
Not Building Up Your Credit
The Urban Institute concluded that most millennials aren’t homeowners and that trend doesn’t look like it’s going to change any time soon. Eventually, you probably want to own a house though.
That’s why you should start building up your credit right now. Get a credit card and keep up on the payments. Don’t be afraid to take out loans to buy a new car. Just so long as you are vigilant about paying all your bills and minimum balances monthly.
Start Saving For Retirement NOW
This is something I’ve talked about a lot in previous articles. It’s important. Whether you like it or not, we all get to a point in life where we are no longer able to work. Retirement is something we have to do, so it’s important to have enough money to last us the…