What is the biggest financial mistake you made in your twenties?

[agnosticlady]

not fully understanding or seeking out how credit cards/student loans work

Yeah credit cards can be very confusing. When I had my first credit card I though after every bill cycle they reset your balance to it's original. So let's my limit is $3,000 I thought after every bill cycle it would go back to $3,000 . Thankfully I learned fast and never missed a payment. I only buy what I have the money to pay back.

None. Got me a Roth IRA and I got some money invested in the stock market. Have to salute the coli fam for putting me on game

Care to share some stock market tips ? I'm thinking about doing some penny shares just to learn but what is a good place to start? Is $5,000 a good start up for investing in stocks.

Signing up for like 5 credit cards while in college...

Took years to clear that up

I understand why people fall into debts with credit cards. It is no joke. I rwmeber working at one of my first jobs. One lady was by $300 worth of clothes and praying that one of her credit cards worked. After 3 declined cards her fourth one finally worked. A lot of people live off of credit.

 

[Free White & 21]

Walked away from a business i helped build with an extremely capable partner out of loyalty to a friend/partner who ultimately was a complete dipshyt

Not only did i struggle going forward, but i left my former partner in a position where he had to struggle as well. It was a total clusterfukk that took almost 2 YEARS to fix what me and my partner could have avoided at best, and could have fixed within 6 months at worst.

My selfishness and lack of vision is embarrassing in hindsight

 

[El negrito de tejas]

Student loans 50k+
Just got my income based payment plan today.

they want $326.70 a month

Military here I come

 

[King Poetic]

Yeah credit cards can be very confusing. When I had my first credit card I though after every bill cycle they reset your balance to it's original. So let's my limit is $3,000 I thought after every bill cycle it would go back to $3,000 . Thankfully I learned fast and never missed a payment. I only buy what I have the money to pay back.



Care to share some stock market tips ? I'm thinking about doing some penny shares just to learn but what is a good place to start? Is $5,000 a good start up for investing in stocks.



I understand why people fall into debts with credit cards. It is no joke. I rwmeber working at one of my first jobs. One lady was by $300 worth of clothes and praying that one of her credit cards worked. After 3 declined cards her fourth one finally worked. A lot of people live off of credit.

Me to...growing up my parents never told me about credit cards and growing up in the hood majority of the people I knew had no clue...

So I just assumed my credit cards would reset as well until I got my first statement and I literally called the credit card company complaining and they said u know u have to pay that back..

My black as got a campus job busting tables.....

That's why I tell my niece and kids in my neighborhood about credit cards

 

[King Poetic]

Student loans 50k+
Just got my income based payment plan today.

they want $326.70 a month

Military here I come

I know... I just pay back the little I can....

 

[SwagmundFreud]

spending money on certain people in order to impress them

 

[GPBear]

Student loans I guess. I could've gone to CUNY ( Brooklyn college) for free. But I wanted the " real campus, real college experience", real diversity, joining organizations etc.

I use to be a heavy Yugioh card player in my earlier 20's. I spent over 5k on cards, Shonen jumps, regionals, and preview tournaments. I could've used that extra cash for something else

Like Vice Queen said, I could've saved more money.

 

[agnosticlady]

Me to...growing up my parents never told me about credit cards and growing up in the hood majority of the people I knew had no clue...

So I just assumed my credit cards would reset as well until I got my first statement and I literally called the credit card company complaining and they said u know u have to pay that back..

My black as got a campus job busting tables.....

That's why I tell my niece and kids in my neighborhood about credit cards

I also noticed that people use credit with no intention to pay it back. Thankfully my score is in the 700's. I tell nobody that I have good credit. Most people who know me think that I have very bad credit and nothing saved up. What kills me is how people can be so crazy with money. I have a former friend who called me asking me for $20 to pay her phone bill. I had way more than $20 and could have given it to her, but this chick is always flossing on Instagram. She has a new iPhone, a nice car, hair dine, nails dine, Jordan's, and lives with her parents so no ajor bills yet is asking me for $20. I hate when people try to play me stupid when it comes to money.

 

[agnosticlady]

spending money on certain people in order to impress them

This happens all the time. Smh

 

[mson]

Me to...growing up my parents never told me about credit cards and growing up in the hood majority of the people I knew had no clue...

So I just assumed my credit cards would reset as well until I got my first statement and I literally called the credit card company complaining and they said u know u have to pay that back..

My black as got a campus job busting tables.....

That's why I tell my niece and kids in my neighborhood about credit cards

So you thought you had unlimited use?

 

[King Poetic]

I also have to say till this day

I spend my money on say a club sandwich or mom and pops breakfast place, even though I have a ton of food in the refrigerator and freezer

I purposely leave my money at home if I go out to exercise or visit a friend place

 

[King Poetic]

So you thought you had unlimited use?

Yup...

 

[2 Up 2 Down]

Trickin' when I didn't have it

Went from good credit to bad credit

Still feeling it today (30)

 

[Kokoro]

Being too reserved and complacent

Not talking to this girl that girl, not hanging out Just chilling, going to parties

I'm only 19 tho so I got my age going for me

 

[Dirty D]

How are your mutuals? Most of my shyt with pimco.

They're OK, I've got a couple of sector funds (geographic and industry) run by the bank I have most of my personal accounts with. They don't charge commissions on their own funds. I don't really look at them or touch them. They're there in case of a rainy day.

Speaking of Pimco, I saw Mohamed El-Erian speak last year. That's one sharp dude. He touched on a lot of geopolitical shyt and how it relates to asset prices.