I’m not sure about you, but my early 20’s were a heck of a time. I was in college until I was 24. I was having the time of my life or so I thought. I will be the 1st to say that I made quite a few mistakes, especially with my money. Looking back, I know that there were some things that I could have done differently. Continue reading to find out the 5 things that I would have done differently with money in my early 20’s.
I never was one to spend a crazy amount of money on clothes or jewelry. My big problem was spending money on nightlife activities. I used to go out nearly every weekend at one point in my early 20’s. I’m glad I stopped doing that. There were plenty of times when I spent money that I could have used for something else instead of drinks or entry into a club. There were also several times where I purchased rounds of drinks for my friends and me with my credit card. Looking back, I realized that I wasted too much money. There was no reason for me to spend that money.
My saving patterns in my early 20’s were all over the place. One minute I’d have a decent amount saved and then the next moment it would be gone. I made decent money working part time as a college student, but I didn’t take the time to focus on saving. If I would have saved more I would have been more prepared for a couple situations that I dealt with in my mid-twenties.
Paid more attention in class
The third thing that I would have done is paid more attention in certain classes such as accounting and economics. When I took those classes I wasn’t focused and to be honest, I was a bit immature. I was happy to pass both of those classes with C’s. Looking back, I missed out on learning some valuable information in the classes.
Pay on student loans
In college, I didn’t take the maximum amount of student loans out. A few times I didn’t even need to take out the loans, but I did it anyway to get a small refund. I worked a part time job and had a couple of side hustles during this time. I should have applied some of my earnings from those gigs to my student loan balance. I didn’t do that, though, I basically ignored them. That should not have happened. If I would have paid just a little bit back then my debt would be lower than it is today.
Got serious about money
The final thing that I would have done differently in my early 20’s is that I would have gotten serious about understanding money. I figured that I would always have it and be able to make a quick buck so I never took it as serious as I should have. As I stated earlier, I didn’t save enough and that came back to haunt me in my latter twenties. I also didn’t think about how I would consistently make money after college until I had already graduated. After being out of school nearly 8 years, I can say that things are finally on the right track.
Is there anything that you would have done differently with your money in your 20’s?