Don’t spend more than 30% of your income after taxes on rent. In fact, split your income 50-20-30. That means 50% goes to rent, food, and transportation altogether, 20% goes to savings, and 30% on what you enjoy. Or what about diving head-first into credit cards? Your parents might tell you it’s an excellent way to build your credit, but that’s only if you’re responsible with that magic plastic card.

If I could go back in time and talk to myself at age 22! Not to sound like an “old guy dishing out all my wise advice to the youngin’s – heh heh,” but if you can still avoid some common money mistakes people make in their 20s, you’ll be doing yourself a big favor!

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TIMESTAMPS:

Trying to keep up with the Joneses 0:25

Buying an expensive car 0:53

Over-spending on rent 1:32

Moving to the big city 2:07

Overspending on food 2:33

Diving head-first into credit cards 3:05

Not caring about your credit history 3:37

Not planning for retirement 4:19

Not taking student loans seriously 4:59

Ignoring insurance 5:51

Cutting financial corners in all the wrong ways 6:20

Avoiding calculated risks 7:08

Not discussing money issues with your significant other 7:40

Getting pets 8:23

Impatience 8:54

#money #moneymestakes #brightside

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