 Young people usually have a lot of zeal, strength and curiosity. If you are in your 20s, it is the best time to strategize and pursue your career goals and interests. Whether or not you will be the next Bill Gates is usually determined around this age. Your 20s is a time to fight for your dreams and push yourself to the limit. It is the period to acquire a new degree, a master's degree and even a PhD. It is time to set the stage for your success. However, in the course of pursuing your dreams, you can sometimes pick up some bad habits or make decisions that will lead you down an undesirable path. While nobody aspires to these things, most young people get caught up in them and have unfulfilled old ages to thank for it. In this video, I will be sharing with you 9 traps most young people fall into in their 20s. The traps span across time management, finance, relationships and jobs. 1. Dream for Money Robert Kiyosaki in the Reached Dad Poor Dad said, Most people have a price, and they have a price because of a human emotion called fear and greed. First, the fear of being without money motivates us to work hard, and then once we get that paycheck, greed or desire starts us thinking about all the wonderful things money can buy. A patternist Dan said, Get up, go to work, pay the bills. Our lives are then run forever by two emotions, fear and greed. Offer them more money and they continue the cycle by also increasing their spending. This is what I call the rat race. Many people in their 20s fall into the strap and get stuck. To avoid the strap, one must take out time to study the reach and successful man and understand what they did differently. Only getting a job, unfortunately, will not help you with this. You can have a job and still be a slave to money. To avoid this problem, having a monthly budget and an amount set aside for investment can be extremely helpful. Two, accepting a job because the pay is higher, this sounds logical, right? It looks like a case of choosing cheese over butter. However, in reality, it can be a very poor decision. As a youth in your 20s, the pressure of life are just beginning. There is now peer pressure and parent pressure combined. There is the innate need for independence, the need to belong and ride flashy cars like your counterparts. However, in choosing a job, choose wisely. Do not make your decision based on the salary alone. Take into account what type of experience, networking and mentorship opportunities. This is expedient because in the long run, your professional skills and experience will always be more valuable to a prospective employer than how much you were paid in your last job. Running into debt because of wedding Having a big wedding is a dream come true for a lot of couples. Unfortunately, this dream can be quite expensive. According to CNBC, the average cost of a wedding ranges from $26,000 to $28,000. This is really a lot to spend on just one day. Instead of going into debt in your wedding, you could organize a smaller event. Many young people fall into this trap and spend their first year of marriage repaying the debt. The amount of money spent on the event can most times have acquired an asset for the couple that can serve them in the long term. If you are thinking of how to avoid the strap, try to remember that the wedding is for you and your spouse and not the guests. Remember that the guests have not come to witness the hall or the limousine. They have come to witness your union with your spouse. Keep those things in mind and you are already halfway to avoiding the strap. Spending too much on a car Driving a Tesla sounds like a good idea, right? Once you start making money, it's easy to fall into the strap. The desire to ride a flashy car that attracts the praise and admiration of your colleagues is often strong. Some people even take a loan or buy the car on higher purchase. The consequences of falling into the strap may not affect only your savings. It can also significantly increase recurring expenditure. According to Forbes, an automobile is a depreciating asset as it ages. It loses value rapidly and drastically. There is also a very little chance of an automobile used for personal transportation to appreciate in value. To avoid falling into the strap, spend only what you can afford on a car and only purchase one if you really need it. If you do not at the moment, you can use your resources for other profitable things. 5. Failing to plan Young people usually begin ventures and make commitments without thinking it through and they hope to figure it out as they progress. Because of this, they seldom succeed at them. Having a clearly defined goal sustains interest and motivation in anything a person undertakes. This applies to finances, personal development and relationships. According to Benjamin Franklin, by failing to prepare, you are preparing to fail. Young people who are not intentional at their goals are unlikely to succeed at anything. Carefully outlining your goals and mapping out strategies to accomplish them helps you stay focused and motivated. It also gives you a clue on the possible challenges you might face trying to accomplish them. That way, you are better prepared. To avoid falling into the strap, always write out your plans in detail and form a habit of doing this, even for the most trivial things. 6. Spending more than you have Most working-class youths in their 20s fall into the strap. This is more rampant for people in formal employment arrangements. The assurance of next month's salary gives them the idea that they are invincible. They take loans to be repaid when they are paid their salaries and unintentionally create a debt cycle for themselves. They are always borrowing and repaying, leaving no room for budgeting and savings. To avoid this strap, do not make expenses that are urgent if you do not have cash. 7. Not setting financial goals Most young people in their 20s leave from paycheck to paycheck. This is not an ideal plan if one aspires to achieve financial independence someday. Now that you are in your 20s, setting financial goals helps one to manage their finances and set savings and investment targets. To avoid this strap, read books on financial investment and associate with people that share similar values with you. 8. Not having health insurance When you are young, you feel invincible, you rarely believe anything can happen. Well, things do happen. The best way to handle such circumstance is to be prepared. Some young people have had terrible accidents, no one hopes for such events, however, planning for it is great. At least when it does happen, all medical expenses will be borne by the insurance company and not you. It also helps you save the huge amount of money such treatments usually attract. 9. Starting a family without a financial plan Starting a family is a big decision. Some countries even give financial support to couples that decide to start families. But this is rarely applicable in developing countries. Most young people fall into the strap and regret it. Do not start a family unless you and yours have set aside enough money to cover health insurance, tuition, fitting and clothing for the child. It may not necessarily be all complete, but enough resources for the child until he or she is up to 18 years is ideal. If all young people thought things through before deciding to have babies, children in society today would rarely like anything. 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