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Veuer
  • 2 months ago
Many people may have gone through their 20s making financial decisions that were not particularly responsible and experts say there are a few mistakes that can cost you in the long run if you aren’t mindful.

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00:00Many people may have gone through their 20s making financial decisions that were not particularly
00:04responsible, and experts say there are a few mistakes that can cost you in the long run if
00:09you aren't mindful. Gambling on the stock market is a very big mistake for young people, according
00:15to Insider. Experts tell the site it's, quote, very, very unlikely you'll quickly get rich from
00:21doing so. The site also says that putting off saving is another poor choice. Experts suggest
00:27investing at least 10% of your net income each month if you can afford it. Central Bank
00:33knows that young couples and newlyweds often make the mistake of not setting a budget. It's
00:38good to establish your financial capacity early on to help avoid overspending and make sure
00:43you're both on the same page. The bank also reports that young people often fail to set
00:48up an emergency fund, which is extremely helpful when life throws you curveballs. The Education
00:54Center suggests that young adults look out for excessive and uncontrolled spending. The
00:59site also notes that young people tend to rush into new car payments and both actions can lead
01:04to long-term financial issues.

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