When you are starting out in life, mistakes are part of the process – from ending up in the wrong job, picking incompatible flat mates or running up debts. But this is also the era where you create habits that can last a lifetime.
Financial mistakes made now can have a huge impact later. That missed mobile phone bill payment today could damage your credit rating and one day affect your ability to get a mortgage. Maybe you’ve delayed starting your pension, ignoring the effect this could have on your future retired self, or are dabbling in Bitcoin before building an emergency savings pot.
If this sounds familiar, don’t worry – plenty of people in their twenties and thirties fall foul of common financial mistakes. The good news is that at this time of life, even small changes can make a big difference.
We look at the biggest financial mistakes people make in their 20s and 30s – and what you can do to avoid them.
Doubling down on debt
