These are some of the mistakes I made when I was younger, and hopefully, they won’t be yours too. You may think you know everything (I sure did), but let me assure you, there is nothing you can’t learn from other people’s mistakes. From someone who has been through a little more and is only slightly older than you, these are mine and hopefully won’t be yours.
The famous poison we all love to drink. Nearly every young person goes through a stage of excessive binge drinking. The pre-drinking wasn’t a massive expense; however, when I rocked up to the bars or clubs, I really noticed the difference in my bank account the next day. When you’re paying for overpriced drinks and get caught up in the moment, it really adds up fast. I could have saved hundreds if not thousands of dollars if I hadn’t got so carried away.
Paying For Friends
I tend to get generous when I’m in a good mood. There is nothing wrong with this, but I was buying drinks and food for people who really were not my friends. Trying to fit in or be liked can blind you into taking the wrong actions. Pick your friends wisely and treat them well. Don’t waste your money on fake or unappreciative people. Paying for drinks all night gets very expensive. You need to value yourself and know when to cut these people off quickly but also gracefully.
When I was in my late teens, I had no idea how the banking system worked. I was doing a combination of using the wrong accounts and services, which resulted in me paying unwanted bank fees. Always read through the structure and the fees associated with each product. At the end of the day, the banks don’t care what accounts you use, so it’s up to you to educate yourself on how they work.
The amount of money I wasted on branded clothing or following trends was ridiculous. I would buy a plain t-shirt from a brand simply because it was made by them and had their small, shitty logo on it. If I had bought non-branded clothing made from high-quality material, this would have saved me a lot of money. AS Colour is a prime example of a company I should have gone to. This also applies to shoes or any other type of accessory.
From the pure excitement of getting my first car, I decided to spend my hard-earned money on everything I could to make it look cool. New mags, tyres, and a sound system. Don’t get me started on the amount of speeding and parking fines I accumulated. Looking back, I really could have been more cautious and put this money into something much more beneficial, such as travel or my education.
These were the top 5 money pits I indulged in when I was younger. What are yours? Are they different to mine? Share with a friend who you think needs to see this!