Millennial Lauren Martin writes: “I don’t have any savings, but I also don’t have any wants. I don’t know about you, but I like to enjoy my life. I like to go out to eat, buy clothes I don’t need and spend money with friends on memorable nights out. This goes back to a piece of advice a very successful friend gave me: Don’t save money. Make more money.” This is simply a very bad advice on many levels that can set a dangerous mindset for young people. If you are in early 20’s and saddled with credit card debts and student loan debts, avoid this bad advice to not save money in your 20’s. In fact when you are young that’s the best time to start saving and investing to take advantage of compounding interest. Moreover, start saving early let you prepare for financial emergencies later in life. (elitedaily.com)
Very Bad Advice: If You Have Savings In Your 20s, You’re Doing Something Wrong
