BREAKING FACTS!!!
Awesome Steps On How To Be Financially Secured

young adults in their 20s make money
mistakes which
can result in debt and financial insecurity.
It is important to get on top of your finances
now – Check out 10 common money mistakes
people wish they realized in their 20s.
1. #Spending to make themselves feel happy

Many young adults who spend too much
money do so because it temporarily helps
them to feel good, but mixing money and
feelings can be dangerous.
Avoid going shopping if you’re having a bad
day – the temporary fix from emotional
spending will pass quickly, but actually saving
will leave you happier and more fulfilled in the
long-term.
2. #Not having emergency savings

When you’re in your twenties, having enough
money in your bank to pay rent and buy food
and a few drinks can feel like more than
enough.
However, planning for an emergency could
really help you later down the line – and if
there isn’t an emergency later on, you will
have savings for a car, or a little to help with
the deposit on a house. Try to have 6 months
of living expenses saved up as a safety net
for the future.
3. #Choosing not to make investments

Investing may seem boring and confusing, but
it can really benefit your finances. If you do
decide to make investments, ask professionals
for information and advice.
A bad investment is a waste of money, but
once you have some tips and knowledge
behind you, you could make an investment
that changes your life financially.
4. #Being frugal and failing

Often young adults in bad financial situations
commit themselves 100% to getting out of
debt and saving up, leaving no money for
anything extra. This can get very dull very
quickly, and can actually result in binges of
high spending.
This is no way to live; instead, factor in a
small amount of weekly money for fun. Make
sure it is a small amount, but you can spend it
on whatever you want. This is more likely to
help you to save and pay off debt, as you are
far less likely to binge spend your money.
5. #Moving out too soon

After a whole life of living at home, many
young adults can’t wait to move out and get
their own place. While this is fine for many
people, it is worth considering staying at home
for a little longer as it is a great opportunity to
save lots of money.
Ask yourself; do I need to leave immediately,
or could I leave in 3 months? How much
money do I want to save up before I move
out?
6. #Not setting long term financial goals

Most people in their twenties have short term
financial goals, like paying their rent and bills.
However, if you can afford to set short term
financial goals, it is likely you can afford to set
long term ones too. Decide how much you
want to save in a year, and start working
towards that.
One day, you may want to start a business or
buy a house – setting long term financial
goals will make these things possible.
7. #Ignoring their employment benefits

If you work in a company, you are probably
making small monthly payments towards
retirement and healthcare. Many younger
people see this as a necessary evil, but it is
much more beneficial to you than the
company you work for.
Take some time to look at the terms and
agreements surrounding these monthly
payments, and see if you could alter your
payments to take advantage of any extra
financial benefits.
8. #Staying in credit card debt

Credit card debt is one of the biggest financial
issues for young adults, with interest rates
averaging around 16%. If you choose to make
the minimum monthly payment, you may be
paying off your cards well into your thirties,
when you will have other expenses that need
paying.
It is difficult to save with debt, and even more
so if there is interest too, so try to focus on
paying off your credit card debt as soon as
possible.
9. #Choosing money over growth

Many young people take job offers with a good
wage, turning down positions with a lower
income but much more opportunity for growth.
It is important to choose growth over money;
these learning opportunities and chances for
promotion are invaluable, and it is likely you
will end up with a much better wage than the
first job after a short amount of time.
10. #Spending too much on unnecessary extras

The new iPhone or expensive hair extensions;
can you really afford these costs on your
current budget? It is important to treat
yourself to things you love, but it is also
important to sit down and work out if your
outgoing expenses are too high.
Before you buy a high-end, luxury product, ask
yourself these questions; can I really afford
this? Do I need this? Why do I want it?

Think about it peeps and Have a rethink, I spend my cash with caution, Just one ride is enogh for now

Mr Awesome