8 money mistakes I made in my 20s

[@ThomasSmith14562]

For me the biggest mindset change came after reading the book 25 Money Secrets From Donald Trump, since reading it the only thing I think about is money

[@HugoBergmann-lu4nd]

The biggest financial mistake I ever made was with my 401(k). My company offered a Roth 401(k) while my kids were in college, but I didn't start contributing until the third year of their six years in college. Because I was helping with their expenses, I was entitled to tax credits, which made my effective tax rate very low. That's precisely when you need to be in a Roth! Despite this, I still retired with about $350,000 in my 401(k).

[@StacieBMui]

People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.

[@StocksWolf752]

I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.

[@RafuqueAhmed117]

Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.

[@StocksWolf752]

I work with Sharon Lee Peoples as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.

[@lolitashaniel2342]

thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@holoinfinity4691]

These videos are so underrated bc many young adults, esp those in their early 20s/30s do not really learn this stuff until it's too late. My parents made sure I knew & understood this stuff.

[@marie52508]

I am in love with this series. Thank you so much for teaching us about financial literacy 🥺 I just realized I'm making a lot of these mistakes. I feel like I'm too old to be this lost on my finances, but I just graduated from med school so I don't have much experience 😅

[@Joyce-uw3rv]

I agree! ❤️

[@zoneout00]

Stuff school should teach but don’t 😂

[@Sidtrav2017]

I’m 29 and my husband and I worst mistake has been getting credit cards and buying things we “want” all the time. Debt is an absolute nightmare and not worth it at the end. The “shoes” you just HAVE to have, are not worth it… My best personal advice is to look into minimalism and online buy what you truly need. It helps us not go into debt or just buy things for that dopamine rush.

[@jollama]

Please keep up that spending. All that paid interest will subsidize my flights and hotel stays

[@amandamills4410]

I'm 23 and I already regret some of the spending decisions 😮‍💨 Trying to get it on track this year!

[@hannahpcho]

i love this series so much. as someone who is soooo financially illiterate, this is so so helpful. and it’s also so nice to hear from your mistakes. thank you again miki, and i will be closely following along 😊

[@aelv2081]

Thanks for the inspiration! I’m just started to make videos about my financial journey as well. I’d say a financial mistake I made in my 20’s was buying a new car! Taking on a car payment instead of investing more money. Another financial mistake was not living within my means and trying to keep up and buy expensive things. Thanks for sharing!

[@Joyce-uw3rv]

This is EXCELLENT! PLEASE CONTINUE TO DO FINANCES, BUDGET, SPENDING! Thank you ❤

[@Joyce-uw3rv]

I'm 53 & humble enough to say that it's a great blessing for me &;for those who didn't get shown how too..... PS. You &;your fiance are a sweet blessing! Not another channel! Much love to you 💝 💘 💝

[@Miaisabelle-yk6rd]

I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.

[@EbelynkaFrattesi]

yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too

[@sannn7034]

Also i love a YT channel named “I will teach you to be rich” Ramit teaches budgeting in a similar way as you but with a bit more details. He also teaches us how to change our money psychology so we know where to work on our weaknesses.

[@tamondaisland2635]

I’m in love with this video, and I know I needed this. I’m low key proud of myself because I also make a note for credit cards’ benefits just to make sure I could get the most out of it, but still working on memorizing which card to use for different categories. Thanks Miki for these series! ❤

[@mikirai]

That's amazing! We're on this financial journey together 💪 ❤️

[@ezginurdal1529]

among your other talents and videos , I love the financial videos most. You are so smart and very responsible. But you also know how to enjoy your life. I know we are close in age ( I am 25 ) but I still aspire to be like you in a lot of ways. I seem to already do some of the advices you said and it made me happy and reassured, because I know they work lol. I am kind of better at budgeting compared to my peers but hey, you are much better than me in this aspect and I am very pleased. Because my generation seems to not understand the benefit of savings and I know some of that comes from the hopelessness for the future and inflation, but you give me hope. Love you, and hope you keep making these videos.

[@CharleneCong]

Great video! One lesson I've learned is the power of 'paying myself first.' No matter how tight things seemed, I always made it a point to put a bit of my paycheck into savings or investments before anything else. It sounds simple, but it’s a game-changer. It's not just about saving money; it's about making a habit of prioritizing your future self. This small shift in mindset can lead to big changes in how we manage our finances. Awesome insights in your video - it’s cool to see someone else’s journey and learn from it!

[@Slackwinner]

Thanks for sharing so many useful financial tips and tricks in this video! One financial tip that I learned over the past couple years of budgetting and investing is to always get the full employer match for your 401K contributions at the minimum since that's free money for you and will provide some financial stability when you retire 💯

[@maev_8927]

I’ve literally watched this finance playlist SO many times because you make everything so simple and easy to understand. Thank you Miki!’

[@shesaint_]

The student finance loans one is so real. I did 1 year of uni, did a gap year and then went back to uni. Didn't realise that the one year gap year i was incurring interest T.T

[@esantana0812]

I’ve already started implementing your tips, they’re all gold!

[@emilypaigem2000]

The manually inputting the address/card number instead of having it saved has helped me so much! By the time I go and grab my wallet, I don’t even care anymore

[@fatemaha7453]

This was a great video! Could you talk more about how to pay off med school loans and which loans would be the best to choose? I’m starting in July and I’m worried about how expensive med school is.

[@amandahalee]

Thank you so much miki. Your videos always make my day, and you might not know it but you are a role model to me. You are spreading positive influences and enriching people's life. BTW i really miss your long podcasts. xxx

[@notyourbestie]

can i just say i love your series like this. please keep this up. i watched your bills hack short video and guess what? i got a new plan for a lower price for a bigger giga bytes data 😂 thank you miki!! i also learned i was done paying my phone. buuuut, decided not to upgrade bc i'll be saving money for our upcoming wedding.

[@lisamarie686]

Walgreens don’t do that price match you mentioned Target does. I didn’t know Target does. Usually what I want from Target, online and in store are the same prices, though. But good to know!

[@Cloudcrest]

I used to struggle with spending on my wants (and still have urges to overspend). I recently found a system that works for me. I make a to-do list and I will only have my wants if I complete the task(s). It has to be hard enough that I'm not overspending and it shouldn't be easy at all so that I have time to think about it. For example: lately, I've been really wanting the new Flower Knows collection. I put into my to-do list that it is my reward if I finish reading & learning the Electromagnetism textbook. A couple weeks later and I still haven't finished the textbook or the practices (it's indeed very difficult and long as I like to set the difficulty relative to the price of item). In the end, I no longer felt the urge to buy it... 😂

[@notyourbestie]

what's good about buying at amazon i noticed is you get to buy what you just need. all the purchase i did there are conscious purchase to improve our life. its not a want at all but needs. then you also tend to do a long time of research before purchasing as google is just at the corner unlike buying in store which when i see alot of cute fancy stuff i get distracted and tend to buy more without looking much at the price and doing research if the item is in the cheapest option. what i do, needs, amazon or during our grocery time (i have a sticky note in the fridge i grab before we head to the grocery to ensure i'm not gonna forget to buy what we need). then wants, i usually delay example clothes buying to occassions where me and my friend will meet, or my partner and i will visit a certain mall or country so when i go out with them, i have a goal and that will keep me distracted enough not to buy other stuff i dont need and be satisfied i still spent in our travel. i keep a wishlist in my phone or ipad. if i deem one as want but also i need or i like to purchase them better than anything else in the list, i put them at number 1. it doesnt have to be in chronological order. #1 is what I like most. so when extra money comes in, i'll just check on that list and know what I will be rewarding myself next. in recent lists, i have home items such as fancy mirrors, standing desk, lamp bc of course when you're adult priority changes which sucks 😂 but i also have some on my list which are bags, camera, stanley cup? 🫠 (yes, i put it in the wishlist bc its definitely not a need), some on my list includes a robot vacuum and a mini threadmill. The travel is for a different topic 😅. But I want to goal at least one big travel per year and we usually sched it during special dates such as anniversary or birthdays so to save money 😂 wonder if you guys do these too? having a wishlist

[@jpk8529]

well, you probs shouldn't use the "if i had a fire in the house" that you wouldn't bring your bags. if you had 5 mins to toss as much financial value into a suitcase to leave your apartment, you probably would throw in a couple of those bags cos they have some of the most personal and monetary (combination!) value among all your objects.

[@nuve9190]

Thank you. It’s hard out here

[@Rosie-l5z]

Great video, l need some financial tips. Having a budget and managing a debt is something that can change your life for the better. 😊❤

[@emilyau8023]

My 30yr old boss tried to influence me to purposefully owe the IRS cause he does that. That is one of the worst advices I have ever heard.

[@notyourbestie]

the biggest saving is to just buy what we need as much as possible.

[@VeraCasaca]

Thanks for this series! More money videos please!

[@jennifer7317]

Loving this series

[@AutobotSimmer]

People fail when thinking about what's a want. You don't need TV services, you don't need the latest iPhone. Internet....hmm... "The government makes an insane amount of money." Never heard anyone view federal loans like that. Oh and how the interest is compounding. I don't get sucked into the hype for things. Trending or luxury. Though I have seen the argument over what's luxury. Having the internet is luxury to some while others would say a $1K bag. Credit cards are 50/50. It's not a debt trap it's people not being responsible. Goes back to the budgeting point. Like sure payments but can you afford it? How long are you willing to pay the bill? Not everyone can invest unfortunately.

[@usagimoon.x.o6256]

All this is so helpful!❤

[@thehopefulbudgeter]

Hi hun, new subbie. Love hearing about your story.

[@mrvlrdlcrrlm4661]

It’s not everyday that i watch a vlog and pull out a pen and paper!! 📝📝📝

[@personalwealthkit]

I LOVED the gift card tips. So smart.

[@alyshaprasad]

Should I be investing monthly or weekly? Do you invest in any other index funds?

[@SandyMseleku]

This is so insightful thank you so much ❤❤🎉

[@sannn7034]

I buy a lot of skincare, baby’s clothes and toys, they are way cheaper than Target tbh. I think Amazon Prime is still worth it

[@geovanellytorres5408]

Thank you for all of this guidance! My thing is that for some reason my target app never works inside target lol

[@cutepinksocks]

May I ask why you invest weekly instead of daily or monthly? Which is best for dollar cost averaging?

[@LK_EBM]

In the grand scheme of things. It doesn't matter. It pretty much all averages out. I do it monthly.

[@strhwaberry]

miki, i live as an expat in a country where we don't have retirement accounts. i allocate 20% for savings (but i don't really spend my income in general), and i'm learning about investing. i'm 25 and i've been worried about this for a while. should i just consider my savings account as my retirement? thanks.

[@katemmontgomery]

what app/platform do you use to invest?

[@ExpressMistyli]

Very good money tips for young folks!

[@promilamardy7821]

Thank you so much 💓

[@liafrances4924]

More please! ❤

[@LuisArias-ui5dw]

Nice thumbnail Miki 😊🌹

[@alextroy9202]

5:29 when you put it like that

[@qiyahuang6154]

You’re right, just purchased a 1000 bucks graphic card，I should wait 24 hrs 😂

[@hoangvu9360]

I want to ask you a lot of things about Taiwan, but I should. Maybe it is not a good idea.

[@duskshadow25]

My dad is like, "I beat your ass now and investing into you, so when I retire you're gonna have all the money back for me." 🤣

[@notyourbestie]

how to save on food. its taking all our moneeeey!!

[@JoseFlores-xh5cj]

Hey fatty, put down the fork and you'll save money on food, anything else you want to learn? You disgust me

[@markbenvlogs]

❤❤❤

[@Sokleng001]

The beginning the video Consider your income $9,000.00 🤣😂😂(Imagine a job pay you 300-500 per month in Southeast Asia.)🤣🤣🤣🤣

[@Sarjilme]

Are you nepali?

[@ActivateLA]

First comment!

[@HugoBoss-td3gq]

You are gorgeous

[@AbsoluteGears]

Amazon is always cheaper she tripping

[@Sanismom]

😊😊❤😊

[@Andre78923]

If you are a MAN MAN you know all the financial information trust me. You don't need anything fancy, just pure hard logic and common sense.

[@bonolomofahla]

🫶🏽

[@dariakessler2101]

Are you an only child? I know Kevin has a brother.

[@josephhuang1163]

Only rich people budget.

[@justaweeb6296]

This is exactly what I wanted 🥹❤️ thank you🧚‍♀️

[@NsabimanaZimurinda]

listen you miss Mikirai together 8money mistakes l,made in my20s l,look mikirai buy me sabine money hey me mayo promise good,discpline

[@NsabimanaZimurinda]

Buy me sabine miss Mikirai bestmusic l,am Shape of my heart Drowining More,than,that showme the meaning being lonely Back,Streetboys togethe mikirai hey me