9 Money mistakes those in their 20’s make

9 Money mistakes those in their 20’s make

1. Taking on debt… and not dealing with it

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On average 70% of college students graduate college with debt with an average of $30,000 in loans. Shockingly, a large percentage of students are unaware that they even have debt. 28% of students with federal loans think they have no federal debt and another 14% think they have no debt what so ever.

Student debt is infamous for keeping young people from being able to buy houses and increase their wealth. Note this isn’t even including car and credit card debt. The best way to counter this is to pay more than your minimum payment each month in order to reduce the length of your loan and amount you pay in interest.