10 Money Mistakes Most 20‑Somethings Make

Photo: Joshua Chase

Being in your 20’s is a great time in your life. You’ve reached adulthood and the freedoms that come from not having to abide by your parents rules (If you don’t live at home). This does also introduce to a whole bunch of new things that in many cases your not equipped with experience to handle them properly. Money when not managed correctly in the short time can cause you problems for years to come. This list is about the common mistakes made by people in their 20’s in the hope that it helps a few of you not to make the same mistakes as the people before you.

Original post By Holly Johnson for The Simple Dollar can be read here 10 Money Mistakes Most 20‑Somethings Make

No. 1: Not Contributing to Retirement Right Away

According to a recent Better Money Habits Millennial Report poll compiled by Bank of America, a staggering 53% of millennials are living paycheck to paycheck. Even worse, the survey showed less than half were saving in a 401(k) and only 16% had an IRA in 2014.

No. 2: Pursuing Higher Education Without a Plan

Pursuing an advanced degree seems like a good idea, but is it? According to the experts, it depends.

Unfortunately, many unemployed and underemployed college graduates pursue advanced degrees without taking the time to figure out the return on that investment. And in many cases, the return on investment, or ROI, is awful, to say the least, or even nonexistent.

To read the complete list follow this link 10 Money Mistakes Most 20‑Somethings Make