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6 mistakes people in their 20s make with money

I started work far too late; lots of delays along the way. I went into journalism, which is the biggest mistake of my 20s. You work far too many hours for far too little money… not enough to invest, so you delay and delay and delay… I suppose the biggest mistake is ‘delay’… I understand the dreadful consequences today…

Bruce Whitfield, The Money Show

Even the most intelligent, bright young minds can be pretty dumb when it comes to money.

So, don’t feel bad if you’ve done any of these, because you’re in excellent company:

  • Buying a car after getting a raise or some windfall.

  • Relying on a credit card.

  • Using store cards.

  • Not saving for retirement.

  • Falling for get-rich-quick schemes.

  • Buying stuff rather than experiences.

The Money Show’s Bruce Whitfield interviewed Sam Beckbessinger, potty-mouthed (but financial free) author of “Manage Your Money like a Fxxxing Grownup”.

Beckbessinger spoke about the dumbest things most people regret they did with money in their 20s.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

We’re up against things that Millennials internationally are not up against… and we’re in our 20s, and we’re dumb, and we want to go jolling!

Sam Beckbessinger

Give yourself the gift of a low cost of living… Save money on the big things; your car, your house and your food…

Sam Beckbessinger

If you cut out a R22 latte every day for 40 years it equates to R2.5 million… If you bought a car that was R2000 per month cheaper, that over your lifetime is R7 million!

Sam Beckbessinger

A lot of young people fall for online forex trading courses…

Sam Beckbessinger

If someone gives you advice for free then it’s not really for free… you’re paying in a way you don’t want to be paying.

Sam Beckbessinger

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This article first appeared on 702 : 6 mistakes people in their 20s make with money


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