Today, I believe so many people including students are still making so many mistakes with money and it's because they are not taught well how to best manage money in school. It's why some are still in debt years after they are out from school and all having worked for years.
What are the biggest mistakes young people make with money?
Being too frivolous with it buying things they don't need.
A big one is paying for college but choosing a poor major, especially when many trade jobs pay well. Heck working for a garbage company pays well too.
On Jun 10, 2026, rockfleece said:
A big one is paying for college but choosing a poor major, especially when many trade jobs pay well. Heck working for a garbage company pays well too.
#1! It is nuts what they offer for degrees these days, tons of completely useless degrees just so they can make more tuition.
On Jun 10, 2026, rockfleece said:
Being too frivolous with it buying things they don't need.
This is so true. I see them spending millions of dollars on luxury cars which are not worth it. Cars will never been seen as a good asset in my opinion because their value never appreciate but depreciates as the day goes by.
On Jun 25, 2026, Ja sa bong said:
This is so true. I see them spending millions of dollars on luxury cars which are not worth it. Cars will never been seen as a good asset in my opinion because their value never appreciate but depreciates as the day goes by.
It could be but you would have to keep it 20-30 years and be lucky that it becomes a sought after classic.
In most cases, you are right. Unless you have a good business, you shouldn't waste wages on expensive depreciating things.
On Jul 23, 2026, MoneyMan said:
It could be but you would have to keep it 20-30 years and be lucky that it becomes a sought after classic.
In most cases, you are right. Unless you have a good business, you shouldn't waste wages on expensive depreciating things.
Yeah, that could work keeping such cars for 30 years or more before reselling them for more money as a classic but unfortunately no one knows when they are going to die. Anything can happen while trying to wait to wait for 30 years before reselling and the person pass away due to health issue.
I will never choose to wait for 20 to 30 years before reaping any benefits from my investment.
