10 Biggest Mistakes Young People Make And Regret Later In life

Описание: For most of us, being young is about being spontaneous and enjoying life to the fullest. While that may be true to some extent, the decisions we make in life when young come back to haunt us later in life. If you’re keen on avoiding mistakes that you’ll regret forever, settle in because today we’ll be talking about the 10 biggest mistakes young people make and end up regretting later in life.



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📌00:00 10 Biggest Mistakes Young People Make and Regret Later In life📌

01:12 1- Impulsive Buying and Failing to Budget:

Young people tend to have fewer worries about their financial future and spend their income on trivial things such as clothes, night outs, smartphones, etc. These expenses may look small on their own but can add up to insane figures if taken as a whole.


01:55 2- Giving up Too Easy:

Most young people lack the drive and perseverance to go for things that seem too hard. So, when that dropshipping gig starts to get shaky, you close shop. Or, when you don’t accomplish your goal at the end of the year, you drop it altogether.


02:24 3- Thinking That it’s Too Early to Start Investing:

“I don’t have enough money to invest yet.”
“I’m still young; I have time and can always invest later.”
All these are excuses and not really valid reasons not to invest. The beauty of early investing is that you get to enjoy the power of compounding more than anyone else.


02:58 4- Investing Without Doing Enough Research:

Even for those who invest, the sad reality is that most young people don’t have time to research. Instead of looking at an investment’s historical, current, and potential performance in-depth, many young people just want to put money into the stock market and get rich quickly because people like Warren Buffet have succeeded in investing.


03:42 5- Failing to Diversify Income Streams:

Having just one income source, no matter how well-paying it is, is like walking on a thin rope; one misstep and you come crashing faster than a rocket.
So, it’s not too late- or too early- to start thinking about adding other income streams. Multiple hustles increase your income- which you can invest and earn even more- and give you stability. So, if you’re laid off, put on unpaid leave, or resign, you can still sustain yourself.


04:25 6- Getting into Debt:

As a young adult trying to set yourself up, debt can quickly accumulate to dangerous levels. Already, most young people start life with zero savings and with tens of thousands of dollars in student loans. On top of that, they add on a car loan and mortgage.


05:07 7- Not Investing in Themselves Through Learning and Sharpening Skills:

The hard truth is, that school is just a small piece of the puzzle. To keep up with the fast-paced world and provide value, whether, in your career or business, you have to keep evolving. So, instead of settling for just what you learned in school like most young people, keep learning and horning your skills.


05:47 8- Looking for Instant Success:

As the world develops super-fast, the pressure on young people to be the ‘next Mark Zuckerberg’ is stronger than ever. Everyone is seeking to be a millionaire by 30 or 40, so they want ideas that will get them rich quickly.


06:29 9- Not Setting Up or Sticking to a Saving Habit:

Saving is perhaps the most productive value a parent can instill in a child. But even if you were never taught to save, you can still pick up the habit as an adult. Sadly, most young people spend their extra income on having fun or trivial shopping and don’t start saving until later in life.


07:19 10- Going Through Life Without a Plan:

Last but not least, many young people move through life without a clear plan. If you don’t have a plan, you’re basically living for today and hoping tomorrow will be better but making an effort to make it better. You’re also easily swayed by the newest and hottest thing, which may end up costing or losing you money.

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