What is the biggest financial
mistake people make in their young age?

Question

Share what you think people often get wrong about saving, spending, debt, investing, lifestyle or planning for the future. If possible, explain what you would do differently.

Alarby Amoo · Answer

Education should make us wiser. Unfortunately, people follow the tradition of "Go to school, get a secure job, work, get married, save for retirement." Then, after retirement, the package barely pay your living expenses for 5 years... and a REAL world shows up. Tired to work normal 9 to 5 but has to work anyway. Subtly, the cycle gets kick-started again - work, pay bills, save, use savings to buy liabilities, repeat😁. Soon, jejelly jejelly, baba go begin blame everyone and everything but him self. Do NOT let this happen to you! Get a skill (even if you are a student or graduate), sell it, grow or improve to compound your results, get real assets with your gains, repeat. Refine/improve on the available skill and follow the rest of the process. Thank me later.

Oluwatobiloba Oludayomi · Answer

Overestimation of their ability to make steady cashflow.

Vivian Ossai · Answer

The biggest mistake is spending everything you earn without building anything that earns for you. Savings matter, but income matters more. Learn a skill, package it into something people can pay for (A service, a course, a digital product), and keep improving it. Then use the profits to buy real assets, not things that lose value. One skill sold well can change your 20s. Start small now.

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