Avoid These 8 Costly Money Mistakes Young People Make

• Misusing credit cards leads to high interest debt and damaged credit scores, hindering financial flexibility.
• Not tracking spending results in overspending on small purchases, late fees, and missed budgeting opportunities.
• Skipping an emergency fund forces reliance on debt for unexpected events like medical bills or car repairs.
• Overspending on lifestyle upgrades and falling for "get rich quick" schemes drain finances and lead to losses.
• Neglecting retirement savings, insurance, and financial education are critical errors that jeopardize long-term security.

Why It Matters: Young people must learn financial literacy and avoid common money mistakes to build a secure future.