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The Biggest Financial Mistakes to Avoid in Your 20s

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Not to mention, low wages, staggering student debt and compounding credit card debt. In the long run, this ignorance is bliss mentality only leads to more problems, whether it’s mounting credit card debt or puny retirement funds. He says, at least initially, 20-somethings’ goals shouldn’t be top-tier salaries.

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Lessons From Past Recessions

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How much debt do I have (credit cards, student loans, car loans, mortgages, etc.)? Am I anticipating any major life events with significant expenses attached (like a new baby or retirement)? Consider your skills and upskill. Many wait until after a job loss to sharpen their existing skills or reach out to their network.

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article thumbnail

The Biggest Financial Mistakes to Avoid in Your 20s

Success

Not to mention, low wages, staggering student debt and compounding credit card debt. In the long run, this ignorance is bliss mentality only leads to more problems, whether it’s mounting credit card debt or puny retirement funds. He says, at least initially, 20-somethings’ goals shouldn’t be top-tier salaries.

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Tori Dunlap, Founder of Her First 100K is on a Mission to Close the Gender Pay Gap

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But getting stuck in a cycle of accumulating and paying debt can create long-term emotional and financial damage that hold women back from other financial priorities such as buying a home, investing in the stock market or saving for retirement. The debt payoff plan I find effective and accessible for many people is the “Debt Avalanche”: 1.