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14 Massive Money Mistakes to Avoid in Your 20s

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  1. Don't prioritize status over true financial progress: Focus on building your earning potential instead of flaunting your wealth on social media.

  2. Don't take jobs solely for the paycheck: Take jobs that align with your values and goals, and prioritize learning and growth over immediate financial gain.

  3. Don't save money prematurely: Instead, invest in yourself and your earning potential by learning new skills and building your professional network.

  4. Don't neglect to prioritize your financial goals: Make a conscious decision to allocate your money towards your goals, rather than just saving whatever is left over.

  5. Don't automate your investing, but not your spending: Make it easy to invest in yourself and your future, but make it harder to spend money on impulse purchases.

  6. Don't go shopping frivolously: Create a budget and stick to it, and avoid making impulse purchases.

  7. Don't cook your own food: Consider spending money on takeout or meal delivery services to free up time and energy for more important things.

  8. Don't live with the wrong people: Surround yourself with people who share your goals and values, and avoid those who may hold you back.

  9. Don't underestimate the importance of your micro-community: Pay attention to the people around you and prioritize building relationships with those who can support and encourage you.

  10. Don't model the wrong season of life: Model your behavior after those who have already achieved financial success, rather than those who are still in the same financial situation as you.

  11. Don't measure your money based on how much you make: Instead, measure your money based on how long it takes you to earn it.

  12. Don't be competitive with your spending, but with your savings: Focus on building up your savings and investments, rather than competing with others to see who can spend the most.

  13. Don't ignore your bank account: Make it a habit to regularly check in on your finances and budget, to ensure you're on track to meet your goals.

  14. Don't procrastinate on spending money on experiences: Allow yourself to spend money on experiences that are unique to your 20s, and prioritize making memories that will last a lifetime.

Source: 14 Money Mistakes To Avoid In Your 20'S, Alex Hormozi

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