Twenty six here. The biggest mistakes someone could make: --Spending on low quality, junk food/beverages (bad for health) --Paying for food delivery services often --Leasing cars --Spending on bank fees, lottery tickets, game micro transactions, etc. --Buying a new phone every year

Two financial mistakes of my 20's: Staying in low-paying part-time jobs for the "experience", and waiting until age 28 to figure out what a high yield savings account is. 😅 We all live and learn! But I am glad I paid off my student loans by 10 years out of college.

As a 30 yo who just got their finances together these past few months, it’s a huge weight off my shoulders and it has saved my marriage. I was financially irresponsible for my entire working life. I just paid off all my debt except my car which only has $6K left on it. It feels amazing.

Creating wealth at your 20's entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.

Big Mistake in my 20’s: buying two brand new cars in the same month, only to watch one be repossessed a few years later. I have not purchased a new vehicle since then, nearly 40 years ago. Buy “pre-owned” vehicles!

The best thing I did was finding schools with low tuition. Most people want to go to a party school, I didn't care about that. It is just a classroom and education.

Can you do a vid on your 30s next

My stupid mistake was to open every credit card available at any store who would give me 10% off. I looked up my junior year in college and had 15+ credit cards.. thankfully my dad gave me the Total Money Maker Over my senior year. Read it, did the baby steps and have been debt free since 2011! Can't wait to read your new book!!! Best wishes to you and Whitney!

As someone who is in his 20's, I will not make these money mistakes. I have been blessed to learn this stuff before my 20's.

In my late 20's the worst mistake was building credit. Yeap. I got my DACA and when I got my ss# the first advice was ...get a credit card and build credit to grow your business. Before DACA I was working, renting, had a paid off car, etc. Well, just on black friday I paid off our home and we are working now on our last debt. We will be free by April 2024.

Lived thru my 20’s now. My 3 advice : Don’t move out of your parent’s house and pay high rent. Don’t buy a new car at any price and don’t buy an expensive used car; definitely do not lease a car. Don’t get an expensive daily coffee habit. Not follow my first 2 advice will set you back years. Not follow my 3rd advice will make you feel stupid in your 30’s. Good luck!

Just finished paying off $85k in student loans between me and my wife. Makes me sick to think how much farther ahead we would have been without them 🤦

I’m 26, $300K net worth. Been saving 50% of my salary, investing in stocks & living below my means. My goal this year is to be more serious and consistent with my investments for long term. Starting to save for a house down payment. I want to invest more this year but I'm not sure on how to mitigate risk

When u get out of college 98% of them never attack the loan. They think they deserve a new BMW, 500k home, vacation trips. 😅😅😅😅😅😅😅 Wrong Start building wealth

Buying new cars was my biggest mistake. Thankfully I've always invested 5% to get my employers match. Now at 55 I have nearly 500k but could've should've would e had more had I listened to ramsey 30 years ago.

Student loans, going out to eat everywhere, didn't budget one bit. Redeeming myself now in my 30s

"Too Neitzche of a subject" was perfect.

Many thanks for the upload, keep them coming! 👍

Watching this video reminded me I was going to call and pay my quarterly taxes today but forgot. Thanks for the reminder. :)

My biggest mistakes: 1. getting a credit card 2. learning how to handle money from people that had no money 3. Thinking that things I bought would impress my “friends” I’m 37 now and have been debt free for a year. I now have none of those friends or the things that I bought to impress them. And I’m ok with that. I just wish I had learned how to save and invest when I was younger. Being debt free truly is freedom like you’ve never felt before! ❤

I'm just a baby😂

You should do a video reflecting on how you became a net worth millionaire by each year! Go through each year with big events and milestones that happened. I would love this video and I think a lot of people would find this helpful as well.

Biggest mistake is buying a brand new truck.. buy preowned. I’m only 25 but I’ve definitely learned my lesson.

Biggest mistake was not taking advantage of the Employee Stock plan when I worked for Apple Retail in 2006 - 2010. We got stock at a 15% discount and it has gone up 75x since. They paid me pretty well for retail job but all I did was pocket the money. Biiig mistake

My biggest mistake in my 20s. Getting a 4yr degree. I could have done almost anything with a 2 yr degree. Also missed retirement funds, and chasing false 'quotes' not in writing.

New subscriber here Mr Kamel. So i think i deserve that signed book of yurs. Love yur jokes too.❤Watching from the super cold and windy Chgo.

This video is literally me! I got out of college, had student loans (not much, had a full ride and loans were for books, housing and meal plans), started at 50k...and lifestyle creep happened. I got a new car, I took a trip to Japan, I put it all on credit. No one told me to save for a house down payment. I'm 34 now, tons of credit card debt and trying to use the debt snowball method to tackle it this year! My strong point is retirement though, I contribute 8%, company does an additional 8% and they give a 2.5%salary bonus to my 401k as well. Im at around 243k in my 401k and 34 years old. I did take out a 401k loan so my amount would be higher, but I did use that for the house down payment and some credit cards...three years left on that loan.

Great hair, George!

Buying a dining room set for our new home. Never used it. $6k in the early 90s! OMG. Second time around, bought used off CL for $400. Had it 20 years. Will sell it on rather than moving it next year.

I got the email last night that the book is on its way!

Is that Steve Martin tweet for real? Way to crush the live stream

I got behind on my school bill in college and took a loan out from the University. There were two times I got a windfall of money and threw extra money on it faster than I had to. Both times the University sent me a letter telling me how much money I saved on interest.

One improvement the government can make to student loans is not charge interest when paying the minimum balance to payoff in 10 years.

You had me going with the "I just a baby"

1) You should never have $80,000 in student loans unless you're going to become a doctor or lawyer or something and 2) whether you pay it down early depends on your interest rate and her's are too high apparently

You knocked it out of the park with this one man!

Love your videos! Learning so much. Thank you.

1. Taking out student loans 2. ? 3. Not having a budget 4. Valuing spending over saving 5. Not being prepared for taxes

Zac Efron 😂

Episode please!

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

IYKYK

Ohhh.. the big Kahuna.. Savings in your '20's. As a retired man.. this is the one regret I STILL have. Even $20 a week in my mid '20's would have been a HUGE differential in today's world (approx. 40+ yrs. later).. Not to mention not cashing in early stock options, retirement plans, etc. Saving when you can barely afford to makes all the difference later.. even IF you don't need the money to live on! As Dave likes to say, wealth building simply gives you MORE OPTIONS than you otherwise would have (travel, giving to children/charities/church, and even better insurance coverages for everything, and being able to more easily meet unexpected costs) thereby reducing stress even more in your retirement years. You really can NEVER save enough.. but especially if you never get started.. and KEEP IT GOING..

Oh my goodness, I was clueless about money in my 20's. I thought it was cool to have a bunch of credit cards and buy whatever I wanted. Personal finance was a big secret when I was growing up. Budgeting was not on my radar at all. It is by the grace and mercy of God, that I started listening to different people on how to be wise money.

The best advice for someone in their 20s is to simply fund everything in this order: 1) emergency fund (recommend $20,000) 2) pay off all high-interest debt (credit cards and school loans) 3) max 401k ($23000) 4) max Roth IRA ($7000) 5) personal brokerage account (any amount leftover). If you live at your parents it's possible after a couple years with an average salary. If you live on your own you will need a salary of approximately $150,000 to reach #5 in the first year. Very possible if you studied anything related to engineering or healthcare.

My financial mistake in my late 20s was co-signing for not one but 2 cars my then boyfriend was leasing!

Im 21 and my biggest mistake is taking out a $17,000 car loan. Planning to pay it off within a year though! Also I make $65,000

I can't understand how so many people don't realize you need to pay enough to cover the interest every month plus a little principal or it will never go down 🤦

The way i am afraid of student loans , credit cards. I'm glad i don't have either one of them, and i definitely don't want to own them in the future.

Falling into the credit card debt trap was my biggest mistake. It took years to crawl out of it. Never again

Buying 3 Cars back to back but it was when I was 19

The biggest mistake I made in my 20s was not participating in my employers 401K program when they were offering a 100% match or having any investments/accounts for my retirement because I felt I had lots of time to get that started. I started the retirement savings journey at 29 and I'll need to work full time a bit later in life, but I'm fine with it.

I made ALL the mistakes and digging myself out now in my 30s. After a year of working at it I at least see a distant light at the end of the long tunnel.

Only making minimum payments and having interest and fees is like flushing money down the toilet and it took me way too long to figure that out. I had a personal loan I found online and my father said it had a 400% interest rate and they were taking out a large payment twice per month and I actually hadn’t paid anything.

I made 3 huge financial mistakes in my 20s 1) Going to college. 2) Having my Dad co-sign for a new car after graduating college. 3) moving to a new state for a job opportunity and promptly getting laid-off/fired after six months. 4) Not having an emergency fund. [I did start a retirement account, but life's expenses had me going into debt. By not having an emergency fund, I couldn't access my saved money.]

My biggest mistakes from age 18-28 1. Mistakenly taking out student loans for my bachelor’s degree (parents asked me to sign a document that gave consent for THEM to take out a parent plus loan. The loan was actually in my name unknowingly to me; I should have reap the document.) 2. Leasing cars 3. Living above my means. Lived in the most expensive dorms available at my university. 4. Having a credit card, several store credit cards. I’m now in my early 30s and I’m debt free. Paid for my master’s degree in cash. And I’m working on baby step 5.

Not saving for retirement.

Dropped out of college here in Australia at 22 in 1996 when government student loan dried up. Thankfully I got first job writing software for 3 months, but my parents weren't wealthy and they never taught me how to save (instead getting me a $1000 limit credit card), so away those paychecks went on boarding fees with a lovely old houselady and wasted the rest on clothes and stuff I didn't need!

Woah why you calling me out! (Jeff) I have been in a committed relationship for four years next month!

Buying stuff that wasn’t on sale

I got married and had all three kids in my 20’s. We were so broke and I deferred my student loans for most of that and didn’t contribute to retirement. I’m now 39 and making up for that. I didn’t even have that much in student loans- $15k!

9 O Clock on the dot :D

Biggest mistake. Going to ITT tech

@1:35 - I wouldn't call that a mistake. George got her interest which led to marriage & building a family. I'd call that a win!

George, you’re the life of the party!

My big mistake was going yo college no one cares about my business administration degree

My 20s mistake was buying a new car. My first car was $1200 cash because I had no money or credit. My second one was $16000 and 4 years of payments. I made $28000 at the time as a teacher.

It seems like I’ve made every mistake twice. I don’t have college loans but I also don’t have a degree. Finally decided to stop using debt and have a two year plan for the $111k debt and a 7 year plan to pay off my mortgage. All just in time to retire, not! I think I’ll never retire. I only have $400k in my 401k I’ve missed the boat. But will be debt free in 10 years anyway. 55 and still swinging.

Cheaper to let the cc company charge off and wait it out

I didn't make any financial mistakes in my 20s because I'm only 18. LOL.

I just leased a tesla model 3 for around $400 at 19. Which ik sounds pretty dumb. But i just wanted a nice car but i dont wanna like be worried about taking care of the battery. I get free charging for the 3 years as well since ive been an employee at tesla for a year now. N i only use the car to commut to work and then for college. So i just wanna keep my monthly money for my brokerage account instead of worrying paying off a car. Bc i really rather have the model Y but like thats like 800 a month n i just said i rather pay half. N focus on my studies and then worry about a good first car later on

I feel like all loans need some time attached to them (or don’t go in debt) but you should be able to take out a loan and see what you need to pay to pay it off by x date.

My biggest mistake was co signing for a person buying our car. Big lesson.

Thank you and the team at Ramsey for everything that you teach. It has set me on a path I do not intend to stray from.

I’m 21 started investing this year net worth about 40k and my biggest mistake is not starting at 19/20 yrs old

It’s hard to avoid money mistakes. It’s hard to save up for big purchases when you’re starting out. It’s a long slow grind. It’s a lot of saying no. I made many money mistakes in my 20s. However, stick to the slow grind. It pays dividends and it’s a lot more relaxing when you have a cushion saved and no debtors to worry about in tough times. Tortoise and the hair, good luck.

When im 18 ill have 91 credits with no debt.

Hi do you play pickleball ? , just wondering

Dude, Steve Martin is a national treasure. Not cool.

I saved a lot in my 20s but I still feel bad it had sooo many credit cards and bought crap I never used or barely used. If I had a Time Machine… my god I would have invested more and bought I different house and idk so much more.

I’m definitely closed to commitment… lol. At least I’m honest with myself

4:08 Student loans aren't unique how they calculate interest: every loan (including a mortgage) is structured that way. The typical mortgage holder doesn't really build much equity for years if they only pay minimums.

Having 3 kids by the time I reached 20.

paying $120k and only dropping the principle by $4k with a 7% interest rate over 10 years is a mathematical impossibility

Kamel I just lost 4 good co workers at 55, 59, 62 and 64 They didn't enjoy the 1 million dollar retirement I'm gonna go blow my money while I'm alive

2:39 @FridayPickleball @JakeTriplett nice cameo!

4:08 I hate that George just believes this TikTok without even giving it a thought if it's true or not. Either George doesn't know that the math is wayyyyy off which being a "money expert" you would think he would know better or he's just lying to push his views of "debt bad". Let me clarify why these numbers don't make sense. Given information: $80k starting balance 7% interest rate 10 year time frame $120k paid in total $76k current balance One of the way you can easily see this doesn't make sense is if lets say she never made a single payment and let the interest compound over 10 years at 7%. Using any compound interest calculator that total would be about $161k but somehow the amount she paid plus the current balance is $196K so those number don't even come close. Secondly if we assume she's making the same payments every month which obviously she is not and average out the $120k over 10 years is $1k a month, plug that into any debt paydown calculator and the debt would be paid off in 9 YEARS yet the amount is the same 10 years later?!?!?! This math ain't mathin so either she still doesn't understand how her student loans work or she is doing it for TikTok fame since this clip gets passed around a lot. Either way George should know better and people should see that he doesn't even understand how things work.

Over the past 8 months I have paid off my credit cards every month on time (I know George is against them lol). Watching these videos just makes me go pay them even though I only made one purchase on them and the day to pay them off isn’t till the 1st hahah

You guys just say the same shit but some things are just not avoidable. Just content machines at this point

My biggest mistake in my 20's was not working as much as I could.

I call b.s. on the lady with the student loans. There is no way she's been paying $1000 a month for 10 years on $80,000 at 7% interest and made no progress. The only real possibility is that she's been regularly going extended periods of time not paying anything, so most of that "interest" is late fees and other penalties. If what she's saying is actually true, then her mistake wasn't taking out the loans. It was mismanaging them so horribly that it makes you wonder how she manages to function in society and life in general.

1😂❤

The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mr KAYLIAN SMITH.

Why would anyone WANT to be a US citizen, George? I can't think of anywhere worse to live.

Our money goals is to increase our retirement to my husbands work match. @donnazehring