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Top Money Mistakes People Make in Their Youth

Author:

This is Kiwi. Passionate writer who loves to write about different topics and likes to share and help others with simple tips.

top-money-mistakes-people-make-in-their-youth

Youth is the most important and active period in every human life. However, this

phase is characterized by so many failures, mistakes, and erroneous decisions.


Among those mistakes, there are tricky financial habits that push people to spend

more money than what they have.



Here are the top money mistakes all youths should avoid:

  • Not saving money: it is preferable to regularize the monthly savings and make it a basic habit to become financially comfortable.


  • Not settling a budget: some people think that making a budget is useless, claiming that they have limited expenses. However, a budget is needed to control the money and the way it is spent.
top-money-mistakes-people-make-in-their-youth
  • Random purchase: avoid shopping without sticking to a purchase list with a clear and detailed budget. By doing so, you will not exceed the purchase amount, and you will not waste your money on useless stuff you do not need.


  • Eating out regularly: it is crucial to enjoying life though, it is not necessary to double or triple the expenses by eating out all the time or spending money on whatever. You need to rationalize money if you want to achieve a stable financial life.


  • Not looking for additional income: having one source of income may increase financial pressure in case of a slight increase in the cost of living. It is preferable to seek a second income to cover all your expenses or save for future emergencies.


© 2021 Kiwi Berry

Comments

Kiwi Berry (author) on July 10, 2021:

That's great Liza books are profitable, and congra for paying off loan. I wish you the best of luck.

Liza from USA on July 09, 2021:

Reading your article, reminiscing my youth whilst I was in a university. I was on loan to pursue my study. My parents cannot afford to pay the school fees. After graduating, I worked very hard to save money as much as I can. I paid my student loan before my 40's. I think during my youth, I love spending on books!

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