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Investor Shares 3 Money Mistakes to Avoid in Your 20s

We are guilty of some of these

Financial decisions you make in your twenties will have a huge impact on your future. If you start saving and investing while you're young, you'll have plenty of money when you're older to do with what you please. If you're careless, you may come to regret it in your thirties or forties. So, no pressure or anything.

TikTok user @theshowupinvestor posted a video highlighting money mistakes he made in his twenties that he regrets. If you find yourself making the same mistakes, don't panic. You have plenty of time to create good habits that will benefit you when you're older.

When you're young and making a living, you're going to be tempted to make big purchases, like a car. Maybe you want to show off for family and friends. Maybe you want to reward yourself for your hard work. Whichever it is, try not to overcompensate. Buy only what you can afford, and even then, stick to items at a modest price point.

The second mistake is utilizing credit cards the wrong way. They're meant to help you build credit and establish yourself as a reliable borrower. Racking up a ton of debt does nothing to benefit you unless you're paying it off in full every month.

The third mistake is stopping your education. This doesn't mean you have to go back to school. It just means you should never stop learning. Utilize your idle time by watching YouTube videos, reading books or listening to podcasts that help you learn new skills and get smarter about your money habits.

Remember, practice makes perfect. The younger you start, the better.