The 7 Worst Money Mistakes People Make in Their 20s скачать в хорошем качестве

The 7 Worst Money Mistakes People Make in Their 20s

Your 20s are where money habits get locked in. Not because you are “bad with money,” but because small decisions start compounding into big outcomes. In this explainer, we break down the 7 worst financial decisions people make in their 20s, with clear examples, real numbers, and simple fixes you can start today. We cover credit cards, emergency savings, investing, lifestyle inflation, car payments, student loans, and why cosigning is a financial jump scare. If you want the follow up video, “The 7 smartest money moves to make in your 20s,” comment “PART 2”. If this helped, like, subscribe, and share it with a friend who keeps saying “I will figure it out later.” Disclaimer This video is for education and entertainment only. It is not financial, legal, or tax advice. Consider your personal situation and consult a qualified professional if needed. Sources: Credit card interest rate data (example: 21.39% in Aug 2025). FRED Emergency expense resilience by age (Fed SHED, $400 question, ages 18 to 29). Federal Reserve Credit card effect on willingness to pay (Prelec and Simester, 2001). Massachusetts Institute of Technology Payment coupling and spending behavior (Raghubir and Srivastava, 2008). American Psychological Association Compound interest basics and why starting early matters (Investor.gov). Investor Retirement savings guideline multiples by age (Fidelity). Fidelity Average first year depreciation estimate (Edmunds: 23.5% of MSRP after one year). Edmunds New car payment stats (Edmunds Q4 2025: average payment and share above $1,000). Edmunds Student loan balance level (New York Fed Household Debt and Credit). Federal Reserve Bank of New York Administrative wage garnishment up to 15% of disposable income (US Treasury) and federal wage garnishment protections. Bureau of the Fiscal Service+1 Cosigning responsibility explanation (FTC). Consumer Advice FICO score factor weights (MyFICO). myFICO Hedonic adaptation concept (Frederick and Loewenstein). cmu.edu