MONEY MISTAKES we Made in Our 20's that RUINED Our 30's...

Money mistakes to avoid in your 20s 30s and even 40s. Avoid these money mistakes and you have a much better chance of becoming wealthy.

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Here were our mistakes:

1. Going to College
For some, college is the best approach. For others, it’s not. But almost EVERYONE in your average high school (and even middle school) is pushed toward this system that a college degree is necessary to be successful.

I didn’t necessarily want to go to college, but at 17 I was young and impressionable and the only message I heard from my parents, teachers and guidance counselors was: “you have to go to college if you want to be successful. You don’t want to work at McDonald’s your whole life, do you”?

I didn’t know what I wanted to do with my life. I thought I wanted to be an astronaut (as much as the typical 17 year old thinks they want to be anything), but upon taking my first two aerospace engineering classes, I quickly figured out that path wasn’t for me.

College was A LOT less expensive 30-40 years ago. It wasn’t uncommon to graduate with only a few thousand dollars in student loans and immediately get a job paying $30k/year. The investment was well worth it. Today, however, students are graduating (if they graduate at all) with $30k, $40k, $50k sometimes over $100k of student loans to learn 99% of what they could learn on the internet for free. They’re being placed into a job market that’s a lot more saturated with degrees and being automated more and more every year. Student loans aren’t bankrupt-able either. Student loan forgiveness programs are fairly strict and take a long time to work, and only apply to certain areas of the market. So those aren't the best options.

Going to college cost my parents $7500 in tuition, and it cost me a huge amount of my life. What I should have done was gone to a small, local community college, gotten an associates degree, and then gone straight into the work force.

2. Cancelling our credit cards.
Originally we thought this was a great idea. We had gone through Dave Ramsey's Financial Peace University and were pretty much on board with his program. However, when it came time to buy a house we quickly realized how much easier it would be with a credit score.

3. Buying a brand new car and financing 99% of it.
I justified this because I would be saving money on gasoline. But the $450/month payment on a $1,000/month income wasn't sustainable. What's worse is the car I owned before the Prius was almost paid off. If I had just kept my previous car, invested that payment for 5 years until getting married, Brittany and I would have been debt free a lot sooner.

4. Not dropping out of college soon enough.
I was in college for almost a decade. I went to 4 different schools and studied in five different fields. The entire time I knew college wasn't for me. The only reasons I stayed in for so long was because I wanted to please my parents and because I believed I needed a degree to become successful. That just wasn't true.

5. Not believing in myself.
Out of this one grew many of the issues discussed in this video, and a lot of other ones. I didn’t think for myself. I allowed other people’s thoughts to think and/or make my decisions for me. I defined my ability to be successful by whether or not I had a degree. Not listening to my conscience and gut instincts cost me so many opportunities. I also lived with my mom for WAY too long. Love you mom.

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Видео MONEY MISTAKES we Made in Our 20's that RUINED Our 30's... канала Mike and Brit