10 Money Mistakes to Avoid in Your 20's

To make it easier for you, here are the money mistakes to avoid in case you want to skip around to learn more about certain topics:  1:08 Not starting your retirement fund ( the earlier the better!!) 3:28 Not having an emergency fund  4:17 Get a credit card (but avoid debt) 6:20 Spending too much money on rent  7:33 Buying a new car  8:31 Not comparing prices  9:29 Not having a frugal mindset 10:15 Not having a budget  11:05 Having just one stream of revenue  12:04 Not having financial goals

would kill to see a collab with Ashley (aka best dressed) now that she’s in nyc!!!

Whenever I hear the critique of spending too much money on dinners, brunchs, drinks, etc., I feel like there's a failure to acknowledge how much eliminating such things would hurt your social life. It's a fair critique and most of us do spend too much, but you also can't just do movie nights at home all the time. Having friends and seeing them and having fun costs money. I think it's important not to spend too much, but also you don't want to be so concerned that you end up never seeing friends cuz you're unwilling to spend a few bucks on a cup of coffee for a catch up.

As a 19 year old freshman in college, I feel SO unprepared for the real world!! My family never really talks about money and even when I have questions it's brushed off with "we'll talk about that when you're older." Um, almost 20 over here, trying to handle my money well with no experience or guidance. So thank you for making practical, well articulated videos like this!!!

Three points in and i realize i’m too european 😂

As a 20-year-old living in Europe (France) this video is not very relatable but still interesting to watch! We don't need to save for retirement ourselves since is taken directly from our salary (plus I don't worry about it too much because of the climate catastrophe), we don't use credit cards but only debit cards and I don't plan on a having a car since we have public transport available.

your hair.. ugh.. its just so beautiful!

When I graduated from college, I couldn't find a job to save my own life. I wanted to work in the public relations industry, hotel industry, and the fashion industry. I applied to 100s of jobs. I was not successful after one year, because everyone wanted 5 years of experience for 30-40k a year! It was absolutely disturbing. I ended up going to law school and becoming a lawyer. It took me getting into 100s of thousands in debt to find a job that pays decent in order to survive. I would advise any 20 year old to not be so hard on yourself. It's tough being a millennial! I started working at 29, and I started saving for retirement at 30 (besides the 401k). Although its not the ideal situation, it's not too late to make sound financial decisions and prepare for your future!

"Buying a new car is one of the worst financial decisions you can make" --- sooooo true! Also, it's the second worst thing for the environment :)) It makes sense to not own a car in NYC. I live in London and here's the same. The car takes longer than the tube!!

it’s nice to know what you should do, but HOW do you go about actually getting started? no one really talks about the specifics, the steps by steps, the practical tips. please make more detailed videos around this subject; so interesting!

Thanks for the shout out! Love seeing other women on YouTube talking about finances

YES ELENA the retirement talk is so important 👏🏼 let's take control of our money ppl

Money gives me anxiety , this makes me even more anxious :(

My favourite moment of the month is sorting my salary into different saving pots so I absolutely loved this video PERSONAL FINANCES HECK YEAH

This is so fantastic, I too am a recent graduate and 23yrs old. Everything you've said needs to be blasted to our generation. I would also recommend for anyone who's going in to their first salary paying job to immediately go see a financial advisor at the bank with whom you have a checking account with already. They absolutely LOVE it when you come in and they give you FREE 101 guidance, whether its opening your first retirement account, or opening your first credit card. Thanks for this content definitely important!

I’d love a full video on getting into the “college broke” mentally. I work a standard, minimum-wage part time job, but ever since I started college and was able to receive some grants, any money saving skills I had seem to have gone out the door :( I’d love a gentle reality check lol

12% annually is far too high. 6.5% is the recommended average return to use when calculating your money's future value.

I would suggest to everyone, listen to the podcast she’s on the money 🙌🏼 it is a podcast all about empowering and educating girls to be financially independent x

So glad you spoke about this Elena! Finance and spending within your means is such an important topic in your twenties. Working hard to have multiple income streams and staying in a saving mindset has been key for me. I also have a budget spreadsheet where I record everything and it's fascinating to see just how much the small things can add up! x

I like that you’re talking about finances and agree that not enough of us talk about them! Budgeting helps with saving so much, and even just looking at the numbers and roughly tracking them is helpful.