7 Money Mistakes to Avoid in Your 20s 

Pro tip: *you can’t get “money mistakes” if you don’t have any* ✨

I wish talking about finances was more popular on youtube...I'm a senior in college and am always looking for adulting advice, especially from my favs. Thanks Amy!

1. Accumulating credit card debt. Pay off all credit card bills. 2. Have a rainy day fund of at least $1000; some experts say save up 3 months’ salary (use saving app) 3. Save for retirement ASAP (go to HR and look into 401K) 4. Invest (can use apps like Stash) 5. Don’t lease car or purchase car that you can’t afford. Cars are depreciating assets. Buy affordable/used car 6. Start saving for property! Put money towards an asset 7. Get insurance (life, renters, health, pets, etc.) See app Lemonade

Imagine actually having money to save

these tips only work if you’re making enough money to live. most folks especially black and brown twenty somethings can barely cover their rent let alone invest. would’ve loved to hear u address this. love you amy.

can't believe i'm taking financial advice from a mermaid

The fact that you are making these videos for younger people to watch and learn from means so much. I turn 19 next month and i'm basically an "adult" which scares me honestly. I'm excited and scared but every time I watch your videos it gives me a sense of calmness and reassurance that if you can do it why can't I.. I've watched almost all of your videos lol keep up the good work

This made me realize how the differences between the American economic system vs the Finnish one really make a huge difference in how you need to spend your money! For example, having health insurance or saving money for retirement aren't necessary here.

Love what you say about living debt free, it really makes a big difference and it also means stress free :)

I’m 21 right now and have just started setting aside for a 401k plan and I also got dropped out my parents insurance bec I decided to get one through work on my own. I wanted to start being responsible with my own money. I currently am in debt for my car rn but I’m paying it off every paycheck. It is really important to be mindful of your money. It does stress you out sometimes but it will be worth it in the long run. I’m still doing research on ways I could invest, It’s a never ending process. Thanks for your tips Amy! ❤️

Could you do a video on tips when it's your first time getting an apartment? I think I'm ready to get my own place but idk where to start.

This video is on point!! I was so dumb with my money in my early 20s, and am paying for it (literally) now. Thank you for opening up the conversation!! If anyone needs other resources: Dave Ramsey, Graham Stephan, and Aja Dang have helped me so much!!

I'm 25, almost 26. And this video is super, super helpful. It's amazing how we can be completely dumb about money. When you save things, that cam help in A LOT of ways. Especially money. Thaks for this :)

I’m 19 and trying to prepare

I am 19 and this video is exactly why I love your channel. Thank you for this type of content. Such a useful and important video/topic!!

this type of information is really valuable especially now that we live in a very expensive world. i’m just 19 years old, but i’ve been saving since i started working, when i was 15 years old only. my mom is really the one who’s pushing me to save, because her experiences before about money has changed her (getting robbed, being manipulated into giving her money). now that i’m the legal age, i start to worry more (moving out, paying rent, buying food, paying car insurance), so it’s good that every single one of us knows how to handle money better and this type of videos should have millions of views, so that we’re educated more about money. thanks for reading (i was so tired typing it lol)

Turning 20 in Journey and trying to get a lot smarter with my finances so this was so helpful thank you!❤️

my goal for september is to become more knowledgeable about investments and take a leap in that direction

I am about to be 16 years old this year and watching this video made me super happy and prepared for whats about to come. I am currently a dual credit student and am getting my associates degree in business so this really helped. Loved this video and I love your channel!❤️

I turned 25 this year too and I wish someone had sat me down to tell me all of this, learning through mistakes and stressful situations was not IT, but here we are better for it😭

this blazer you're wearing is perfect fit for this vid girlll you look so good and professional... what a girlboss!

I loooove how youre straight in to it and we dont have to wait for u to start after 5 mins, and u explain Very well

I literally just turned 20 and I'm so glad I found this video. So far I have a great credit score, and I even made a video about money mistakes I plan to avoid these next 10 years :) thank you so much for this video, youve helped thousands of people!

Totally agree!! It’s crazy how much money you can spend on food too!! The UberEats and just random restaurants honestly add up and can take a toll on your financial journey.

btw there are also a lot of investing apps and online savings accounts that have zero fees too!

insurance is important, they honestly should have mandatory courses on finance for highshool/college studemts

can't get over your blue hair, it looks sooo beautiful on you!!!💙

amy, u r the older sister figure i always needed in my life...

Reading through the comments and seeing how bad some people have it :( But the great thing about being young is that you have TONS of time left to explore your career opportunities/growth. Where you are working now is probably not going to be the job you hold onto forever, even if you think you're already at a great job. What's most important is just investing in yourself (learning new skills like coding, photography, social media marketing, etc) and always seeking opportunities to move up.

I'm 23 and I've always struggled with money, I also have loans to deal with now lol. But, thank you so much for this video, writing these tips down will help me so much. Finally got a savings account set up.

Really enjoyed this. If anyone is looking for another personal finance book, "Money Diaries" is pretty good and simple and has a lot of great tips. It's slightly geared towards women too which I liked

watching this video in my early 20's AYYYE

I didn’t realize how much I needed to see this vid! But this video gave me so much anxiety 😅 ugh adulthood lol

Lit am staying in my $800 apartment I’ve been in since I was 20 probably for another year or so (I’m 26now) JUST because my landlord has never raised my rent and honestly I live only an hour from Toronto. VS. My friend who lives in Toronto and has to pay $2200/m for a studio that keeps increasing each year. Sure, I’m not in the heart of the province but I’ll have a house in my 30’s and by then I won’t care about keeping up with the Jones’. Credit card advice is huge, I wish someone taught me that younger. Canadians should focus on dental coverage since it’s not covered!

Thanks for this video :) Two questions: 1) what do you do (career wise)/what did your career path look like? Are you a full time blogger? Do you have a “day job”? 2) what is the name of the nail polish color you are wearing? Lovely!

I'm 23 and I've been working my first full-time job for almost a year. I was annoyed at first when my mom told me to start putting money away for retirement and to buy a house already, but I feel lucky now because if she didn't I wouldn't know how to properly invest in my future. Thanks for this video, Amy! I think it is all great advice for people our age.

Im a 19yr old student and I LOVED this video! very helpful without being patronising :))) thank u!

22 And acknowledged that I'm a shoppaholic.. so that Video is EXACLY what I needed!!!!

i’m currently 20 AND THIS IS THE BEST BLUEPRINT to being financially stable that i have seen. thank you so much!

In the thread of insurance I suggest getting your Life Insurance policy when you get your first part time job as a kid. Rates are crazy low and you can usually go on a “Pay until 25” plan which means you only pay your premiums until age 25 and never have to pay afterwards. You can also borrow from the equity of your policy at any point in time if you needed to.Too many people wait til they are married or have kids to finally get a policy.

Girl lol this is all assuming that in your twenties you have a stable salary paying job. 🙃 #AnAnomalyRecently

Thank you so much for this video, I love hitting down your self-help tips into a journal where its most accessible to me since I use it everyday. Not many RU-vidrs use their platform for real life help that can assist an audience for Adults/Teens. Grateful to see you doing it. I’m turning 20 this February and have absolutely no idea what I’m doing with the money I’m making. This helped tons and I downloaded all the apps you mentioned! You’re doing amazing with your channel and I’m looking forward to seeing its growth! Blessings to you and sending all the best vibes!

Girl I love ur random yet good topic talks !!❤️❤️❤️

I love watching/ listening to Dave Ramsey speak with people and help them open doors to their financial struggles...

I actually think investing money in your favor and live your life to the fullest instead of saving a lot is better. Having a saving is always good for when unexpected things happen but also you could die tomorrow haha, so don't save tooo much and also live a little.

Those tips are great! Especially cars are a thing so many people - young and old alike - spend way more on it than they can afford, just because leasing seems oh-so-great. My parents who could easily buy afford a new car also buy used ones (cars lose most of their value in the first 3 years). Also, they pretty much hammered the points you mentioned into my brain. Especially when it comes to retirement and retirement funds, property is key. Even if your savings for retirement are not that big, you still have a safe roof over your head for which you only have to pay for water, electricity etc. Also, I'm very happy to live in a country where I at least don't have to stress about health insurance or retirement funds (with the later I'd say technically because I actually do). Fun thing: My rental agreement includes a passage that I must have rental insurance that covers certain things like water damage etc up to a certain amount. I have never needed it but rental insurance is money well spent (mine is only 7€ per month) if I consider what could happen in case of a break-in, a fire or whatever catastrophe out of your control.

This video is great and super interesting :) but how many 20 year olds can put away $100 a week?! I don't even make that a week as I'm a full time student XD

Automatisation of money transfer into saving accounts is also a very easy and effective way to build up savings. Just set up scheduled transfers (every week or every month) and start small and adjust the amount your transfer as your income changes :)

Wow, This is just What I needed.. I might me 17 years old but I’m saving for omving out and this was just incredibly helpful

I'm a min. wage worker, working full time, also trying to start a business, but I'm TERRIBLE with money!! But I'm doing a complete overhaul on my spending habits. RU-vid needs more people like you!!

I'm 17 and this video was so helpful! I currently have 0 expenses aside from things I want when shopping etc. because I live with my parents - so I'm definitely going to start saving everything I earn while I can! Thanks for the tips :)

Yeah... I spent too much on food **cries in sugar addict**

It feels like your videos always come at exactly the right time...I've been so stressed about money lately! Just watching this has started making me feel a bit better.

You need to get into the habit of saving money, like a crazy person. Use apps like digit, acorns, qapital, etc. Side hustle on some weekends and take taste testing surveys for some extra cash to pay for your phone bill or car insurance or whatever. When something comes up and you don’t have to put it on a credit card (putting yourself further into debt) you will seriously thank yourself. This is how you break the cycle of debt.

Thank you SO much for this video! Even though I'm 19 now, I'll be moving out for grad school in 2 years and will have to become completely self-sustainable and independent for the first time. I didn't even know renter's insurance existed, but I'll definitely be taking advantage of it now. Thank you!!

I think I needed to see this today. Lately, I have been wasting money left and right. I am 24 now and will be off my mom's insurance by 26. I am $2500-4000 in loan debt and am still struggling to pay them off completely.

you and ashley (best dressed) collabing would be a power move. you both seem so responsible and try to take control of your lives it would be so cool to see you both work together

perfect timing because i just turned 20 LOL

Thanks for this I actually was thinking about saving more and then I this came across my recommendation

Hair and eyeshadow combo is a winner!

I really wish I didn’t get a car that I have to make payments for. I was 18 and needed a car desperately and was scared a used car was going to break down on me and make me pay more for it than I actually needed but these car payments are ridiculous I’m so tired of it.

I am a junior in college and I'm starting to think about my future. I'm trying to save my money and find an income, even if it is a small amount.

thanks so much for this! i feel like this is a topic i avoid thinking about because i’m scared of it, but this helped me get the gears going and understand i have to start now :) also young women don’t often upload videos on topics like this, so to see another young girl managing her finances and everything gives me hope for myself

She jumps RIGHT into it, love that

I love money talk! This morning I just inquired in my bank regarding a retirement fund (sadly we don't have great options in my country) but now that I have my my 6-month emergency fund all set so my goal is setting up that retirement fund by this year.

Loved this Amy !!! Totally agree with this video !!! It’s true , credit is everything !! And make sure you can afford what you get !!!

I would have looooved content like this when I first turned 18. I'm now 22 and repaying every costly mistake I made as a youth. Thanks Amy!

Girl yes. I just found you thru RU-vid recommendations. Thanks for your tips. Lots of people will find you helpful!

I just turned 24 and regretting a lot of my own financial decisions 😔 but I started off from a poor family so I feel I can’t compare myself to my friends who are buying houses now etc! 🙄 I’ve bought my own car and pay rent etc, just need to focus on saving! I’ve had too much fun on experiences which I don’t regret atm

Compound interest can be work for you or kill your finances

I love your hair and makeup!!

Liked for the awesome tips but really for the even better hair!

I think it's GREAT that you directly went into the topic of the video, really! THANK YOU

This is my first video of yours that I’ve seen and can I just say I LOVE YOUR HAIR 😍.

This is so helpful. I wish parents and teachers would tell/teach us these kinds of things

Why isn't this stuff a mandatory course taught in high school .____. So many high schoolers jump right into their college years feeling like a lost potato.

I thought it was WithWendy and I was waiting for her to say something about her hair but she didn't!!!! omg you do your makeup in a way where the accents are practically the same!

such a great video!!

i really REALLY fuck with your videos!!!! thank you for just being you and keeping it real.

you're glowing in this video, love the hair and neon nails!

Love your outfit! Good video too!

You are so eloquent, so impressed and love your videos!

your hair and makeup.. just perfect

amazing video! thank you so much!

binge watching ur videos✨

This video is so so necessary! Thanks so much for breaking things down!

Thank you Amy

I'm 29 and all the points you mention on this video is exactly what I've learned now. great! video

Very helpful video!

I know this is random and doesn't pertain to the topic of the video, but you are beautiful! Naturally pretty, this is a look, and your hair is gorgeous. Now the video - thank you for the tips! I'm a college student currently living at home to save money and I'll be needing these tips once I move out. Thank you!

All of this is 💯 on point, especially for those who are college grads and working full-time. Personally, I like using Robinhood more than Stash since there are no trade commissions. 🙂

The blazer was perfect for this video!! Bank teller but make it sexy

Love the idea of this video :) I usually save any financial aid I receive in college or if i have money remaining in my paycheck (I could've saved so much more tbh) Even though I lost my car in a car crash, I realized the car was difficult to pay for and maybe more than I could afford. I was doing a 3-year payment plan so my monthly payments were high. But I definitely learned how to save better because of that car.. I had to cut down a lot on what I was spending my money on. It was mostly eating out too much or just going out in general. I had to sacrifice a lot to save my money, but in the end, it was worth it. Now, I have a car that I paid all cash from my savings, but sadly, my savings are all gone now. I am working to build it up again. I am 22 years old and still live at home with parents, so that has helped too even though it sucks sometimes.

I found you with this video. I thought it was very useful. You should more videos about this topics! Im 20 yo and I feel like I don't know almost anything about finances and I don't know what to be more educative and look for more information about this topic. ^~^

This was so informative and helpful, thank you for sharing! I literally just downloaded the Stash app and omggg how did I not know about this??

I love your style!

Thanks for the video Amy! Trying to be as smart with money as I can while I am a student with lower income. Also, this is the first video of yours I have seen but Im subscribed now because you are very likeable! I think it is because you seem so genuine. (And you are gorgeous!)

I’m turning 20 in November and last year when I graduated from HS I realized that I needed to start saving especially because I was starting college. I’m attending community college to get my credits so I can save money if I decide to transfer to 4 year Uni. I don’t have many bills besides my car insurance and paying for the tuition, I have a decent part time job at a bank so every paycheck I put almost all my money into my savings and i have a separate accounts for bills. A little over a year later since starting this (I struggle the first few months bc I couldn’t save for the life of me) I have 4K but 1K is in bills account mainly because of my tuition so only 3K is in my savings. I recently started investing a small amount in the stock market and forex currency trading, I’m still new some my profit is quite small as of right now. I’m pretty proud of myself so far, and since I’m still very young I really need to take advantage that I don’t have to own a house, have my own health insurance ect. Hopefully but the time it comes for me to do all of that I have a decent savings account, this may sound crazy but hopefully by the time I graduate from community college (2 years bc I changed my major) I have at least 8K saved up if all goes well

Thank you for making this video! I found it very helpful

for Lemonade, they do not cover earthquake insurance, but they do have a partner for that that is extra. I use Lemonade and when I was living in a studio apartment it was only $6/month. I now live in a house with 3 other roommates and it now costs $13/month and it only covers my stuff. Also it is only a $500 deductible, so they are very reasonable.