像许多人一样, you may have blown through your 20s making financial decisions that served you well in the moment but may not have been particularly responsible. 每周出去吃几次饭, 你都没怎么看过的信用卡账单, and luxury cars way beyond your budget—life was practically a party!
但现在，派对结束了. You’ve woken up in your 30s and realized that all that overspending is going to cost you big—and it’s going to cost for years to come.
幸运的是,还有希望. It’s not too late to fix the financial mistakes we all make when we’re young and blissfully ignorant.
Here are six of the most common mistakes people make in their 20s and how to fix them:
1.) The mistake: Racking up credit card debt
也许你在大学的时候破产了, 但渴望一段美好的时光, so you swiped your way through vacations and nights out on the town. Or maybe you knew you were falling into the debt trap to cover student-related needs on a shoestring budget. Unfortunately, it didn’t just go away like you’d hoped.
It’s time to be an adult and own up to your mistakes. Learn how to say no to impulsive purchases and to live within your means. Stop swiping your credit cards and stick to debit or cash only. Don’t let those credit card bills get any higher! You can also transfer your high interest credit card balances with no balance transfer fee to our VISA铂金信用卡美国的税率低至3美元.4月20%.
Aside from being the gateway to endless spending, aggressive credit card balances have probably handicapped your credit score, making it difficult or impossible to obtain a 个人贷款. A poor score will also burden you with an unfavorable interest rate for the loans you do qualify for. And that means you’ll be paying off the mistakes of your 20s for years to come.
The fix: Know your score and pay down your debt
修正信用评分永远都不晚. 从监控你的分数开始. You can order a complimentary credit report at annualcreditreport.com 或打电话 . This will give you an idea of what you’re working with as you work on climbing out of financial hardship.
Next, work on paying off debt instead of only making the minimum payments to each bill each month. Look through your bills and crunch some numbers until you know exactly how high your debt really is. If you find yourself paying for multiple bills, obtaining a 债务合并贷款 makes sense by allowing you to lower your total monthly payments and give you just ONE single payment each month! 最重要的是，蒙特卡罗世界十大赌场的费用低至3美元.4月49%! Paying down your debt and minimizing the utilization rate on your credit cards will greatly improve your score.
3.) The mistake: Skipping student loan bills
When you’re facing a debt in the tens of thousands of dollars while earning an entry-level salary, it’s tempting to just pretend it doesn’t exist. Unfortunately, though, that’s the worst thing you can do for your loan and your credit.
和蒙特卡罗世界十大赌场的人谈谈 财务顾问 today and work out a more feasible payment plan. You can also check if you qualify for a student loan forgiveness program. 最重要的是, make your student loan payments a part of your debt payment plan so you never miss a payment.
Planning for your decades-away retirement may be one of the last things on your list. 然而, starting to fund your retirement later in the game means missing out on years of compound interest gains.
Don’t think of retirement savings as an extra; think of it as a necessary, fixed expense that belongs in your budget like your rent and phone bill. Work with the most you can afford and max out your contributions to an IRA or your company’s 401(k) plan. 和蒙特卡罗世界十大赌场的人谈谈 万通金融集团联合设立财务顾问旨在表彰 today and optimize your retirement portfolio.
5.) The mistake: Not having an emergency fund
Life’s great—who needs to think about emergencies? 不幸的是,你. Scrambling for funds to pay for a large medical expense or to live off your savings during an unexpected layoff can be a nightmare. Turning toward credit cards to help you get through a rough time can also be the beginning of a debt cycle whose effects are felt for years to come.
Experts recommend socking away 3-6 months’ worth of living expenses, 但如果这对你来说是不可能的, 从小事做起. Work with whatever you can to make monthly contributions to an emergency fund. Set up an automatic monthly transfer so you never forget. It’s best to keep your emergency money in an account that offers an attractive earnings rate but allows you to withdraw funds without paying a penalty.
6.) The mistake: Not creating financial goals
It’s understandable not to have your entire life planned out yet, but it’s important to set some financial goals.
Take some time to set some financial goals. Do you want to buy a house within the next decade? 你梦想开一家公司吗? 你希望55岁退休吗? Having a concrete goal in mind will help you stick to your budget and manage your money responsibly.
20多岁的时候搞砸了? It’s not too late to get your finances on track! Follow our tips for a financially sound future.