I should have known better about my finances in my 20s. Heaven knows that I have made a few financial mistakes along the way.
This list of what I should have known better about my finances in my 20s is an attempt to help others before they make some of the same mistakes. It is not too late though to recover from your errors though if you have made these listed below.
20 Things I Should Have Known Better About My Finances
1. Don’t borrow from your 401k retirement plan. Even though you are paying yourself back with interest, you are going to be forever behind the retirement savings power curve.
2. Invest enough to get the employer matching contribution to your 401k Retirement Plan.
4. Your children don’t need any life insurance policies. You should have enough to bury them with your emergency fund.
5. Maxing out a Roth IRA is one the best things we can do. This should be your goal as soon as you are financially able after you start working.