Financial error # 1 that people do when they are young, the investigation says

People over 50 share what they want to know about money when they were young.


Make mistakes ispart of life. Everyone spoils from time to time, whether in their personal or professional lives. When it comes toPoor step with your moneyHowever, these usually occur most often, and most seriously, in your early years. It takes experience to control your funds. Part of this experience, unfortunately, can sometimes involve things like getting intocredit card debt. To help you avoid large traps, a new survey conducted by the caregiver, a site for Senior Life communities, has requested more than 1,000 US adults over 50 years old.financial mistakes they have made in their 20 and 30 years.

Read it to see where respondents, now older and wise, say they have turned wrong and discover the most common financial error that people do when they are young. And for more financial knowledge,It's the biggest debt of your age..

16
Lack of financial assistance for college

college girl studying and working on table
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Respondents who made this mistake within 20 and 30 years: 9.9%

And for how much cash have been detached,This of how much money people in your age have on average data.

15
Attend a Cher College

University of Indiana - Family walks with college student out main gates of campus down into the town during Fall Break weekend
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Respondents who made this mistake within 20 and 30 years: 10.3%

14
Take too much on the mortgage / rent

man paying bills
Refuge

Respondents who made this mistake within 20 and 30 years: 10. 3%

13
Do not understand taxes

the department of treasury is issuing to US citizens economic impact payments known as a stimulus check or tax refund concept.
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Respondents who made this mistake within 20 and 30 years: 10.7%

And for more where taxes are astronomical,This state has the highest taxes in America, according to the data.

12
Do not understand student loans

Kid Applying to College Ways School is Different
Refuge

Respondents who made this mistake within 20 and 30 years: 11.0%

11
Lack of scholarships

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Respondents who made this mistake within 20 and 30 years: 11.6%

10
Do not save enough for repairs at home

older man repairing damaged wall
Shutterstock / Monkey Business Images

Respondents who made this mistake within 20 and 30 years: 14.6%

9
Income spent overestimate

man paying with cash in store
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Respondents who made this mistake within 20 and 30 years: 17.4%

And for more things about how people blow in their money,Here's how much money spend on 25 daily items, the data.

8
Missing career opportunities

Shot of a young businessman experiencing stress during late night at work
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Respondents who made this mistake within 20 and 30 years: 21.7%

7
Borrow more money than necessary

Person getting a loan
Refuge

Respondents who made this mistake within 20 and 30 years: 24.1 percent

6
Appoint the credit score

be smarter with money in 2018
Refuge

Respondents who made this mistake within 20 and 30 years: 27.2%

And for a factor that could affect your score,If you do not spend money on this, you hurt your credit score..

5
Open several credit cards

save 40 percent of your paycheck
Refuge

Respondents who made this mistake within 20 and 30 years: 33.2%

4
Do not follow a budget

Woman creating a budgeting plan
Refuge

Respondents who made this mistake within 20 and 30 years: 34.7%

And for more useful financial information sent directly into your inbox,Sign up for our daily newsletter.

3
Living Paycheck in Paycheck

Paycheck
Refuge

Respondents who made this mistake within 20 and 30 years: 42.6%

2
Do not have a financial plan

man with eyeglasses siting on floor in the living room and using smart phone and laptop for managing home finances
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Respondents who made this mistake within 20 and 30 years: 48.5%

1
Do not save enough money

man putting coins in a jar
Refuge

Respondents who made this mistake within 20 and 30 years: 65.2%

And for more what to do with your money during your age,This is the best state of retiring in America.


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