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TOP 4 Money Mistakes To Avoid In Your 20s



I did some really dumb things with money in my 20s. Don’t make these money mistakes!
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Time-codes:
0:00 Money mistakes I made in my 20s
00:25 I didn’t care about personal finance
02:53 My financial system
03:43 Why I don’t use personal finance apps
04:24 How much I invest
05:03 When you should buy currency
06:37 What is compound interest
08:10 Invest in yourself
08:51 When is the best time to risk
09:47 Bluehost is one of the best web hosting companies
10:45 I tried to impress the cool kids
11:45 Spend more to earn more or not?
13:50 If you want to start investing

My first mistake was that I didn’t care about personal finance. I thought that personal finance was for rich people. And when I started my company, I didn’t do any accounting and didn’t have any spreadsheets, which caused a lot of problems.

At the end of 2019, I read a book by Tony Robbins, “Money: Master the Game.” I learned about compound interest and realized that I was losing out a lot. I made my first investment in March 2020.

Even if you don’t have a lot of money, you’re still forming your financial habits and they will help you when you start earning more.

Personal finance template: https://docs.google.com/spreadsheets/d/16oPOau3oHH2Wc99LR-t4Ijqk_hnusPby3EXRcUKzkEQ/edit?usp=sharing

My financial system. I have a Google Spreadsheet where I track all my income and expenses. I write all my sources of income separately in order to see which of them brings me more money and which I only invest in, like in BiliBili and TikTok.

I don’t use personal finance apps because I have a lot of accounts and businesses, so it’s easier for me to track everything manually.

In my spreadsheets, I automatically calculate how much I need to invest. My goal for 2021 is to increase the percentage of my money that I invest in stock markets.

When you live in a country where your currency is losing its value, think about buying dollars or euros to save your capital.

Compound interest is when the interest that you made is not taken out but is reinvested again. So, the more years ahead you have, the more money you get.

When you are young and don’t have a lot of money, the best thing you can do is to invest in yourself. Don’t be afraid to take risks when you are young and don’t have a lot of responsibilities.

The worst thing you can do is to try to impress people with your clothes or things as I did in my 20s.

I used to raise the level of my life to motivate myself to work harder. But now making an impact on other people’s lives is more important for me.

If you want to maintain the same quality of life that you have now during your retirement, you need to save 20 for every dollar you spend.

I post daily stories about my life and business routine on my Instagram – https://www.instagram.com/linguamarina/

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  1. What money mistakes have you made in your 20s?

    Time-codes:
    0:00 Money mistakes I made in my 20s
    00:25 I didn’t care about personal finance
    02:53 My financial system
    03:43 Why I don’t use personal finance apps
    04:24 How much I invest
    05:03 When you should buy currency
    06:37 What is compound interest
    08:10 Invest in yourself
    08:51 When is the best time to risk
    09:47 Bluehost is one of the best web hosting companies
    10:45 I tried to impress the cool kids
    11:45 Spend more to earn more or not?
    13:50 If you want to start investing

    Reply

  3. Great advice. Reality check for most of the population – launching a successful business out of the gate is almost like winning the lottery so:
    1. If your 1st business fails, try again. Don't give up. I started a dozen companies before one became successful – and it was the simplest , cheapest, most idiotic idea that took off (my startup funds was $100 on my most successful business).
    2. Live as if you're homeless (as cheap as possible)…. Economic stability a thing of the past. Governments are trying their hardest to devalue your savings.
    3. Own everything, limit borrowing, make your things last as long as possible (car/phone/clothes). I paid off my house as quick as possible (explanation later).
    4. Don't live in an expensive state or city. In this era (post CovAIDS), many businesses and professions can be run from anywhere. By simply not living in California has saved me hundreds of thousands over the years.
    5. Don't be afraid to work a day job and have a side business. Ultimately you're trading your time and skills for disposable income regardless if it's from an employer. Think of the side business as extra income.
    6. No debt=no stress. If you own your dwelling and build up a small savings, you can tell your boss to go F-off anytime, which makes your day job more fun.

    Later I'll tell y'all how to live VIP status for practically nothing (like flying on that private jet, or have the movie theater/restaurant/club/bar all to yourself).

    Reply

  9. Now i realize that i'm lucky do to watch your video Marina .😁

    Usually i'm not stan of finance but now even if i've just 17 , i start to think like a my parents 🤣.

    By the way thank to all these advices because you know without this video .
    I would probably try to impress people with quirky wearing and expensive car .😂

    On the other hand thank to you i will start to interest myself on compound interest , the value of different currency .😉😋
    And of course of my proper finance .😌

    Even though i'm still young , i would know Marina according to your proper adventure😜 , if invest on the stock exchange is something really exciting or not ?😐😄

    Thanks for all people who still read , it's all for me take care .

    # Never give up, never drop it

    Reply

  10. Great video make me thinking about the money I spend with the income of my company . I will Apply this advice thank you very much . By the way you has help me a lot to speak english a few years ago

    Reply

  13. Thanks Marina. It's really useful information and more importantly taken from your experience. I'm not yet into investment but as you said the best investment we can do so far is in ourselves.

    Reply

  14. We made our first investment in June 2020 and I'm so excited about it! We already have a saver buffer and no expensive loans like credit cards so we felt very ready to invest! So much fun.

    Reply

  26. Have you changed your mind about buying the $4M house in the Silicon Valley? Correct me if I am wrong. Did you say just just started investing ? If you did how can you even think on buying a house in SV? I am confused. Or maybe I missed something. It’s a genuine question. I feel like you contradict yourself sometimes.

    Reply

  29. Doubting, observing, rejecting and neglecting every opportunity that come your way, will never bring you to an expected end. Don't forget you can never remain in that your job for ever mark my word be wise enough to invest and build your own online business as a plan B to help support your other earnings when the need arises

    Reply

  32. Your thoughts are very inspiring! Just waiting for the right opportunity to start the business…You would never know how painfull is the wait to get to the other side and be with your coveted passion….Keep inspiring !!!

    Reply

  33. I am just stuck in a lousy employment and can't do much, when it takes to starting a business…All I can do is wait for the right time…trust we are on the same page….waiting for the right time and opportunity is the mantra…

    Reply

  34. Thanks so much for this video. I'm always looking forward to your tips, you're both an inspiration and role model. Thanks so much for the videos.

    Oh and I'm watching from Zimbabwe, in Africa

    Reply

  35. Marina is the best! Big fan of yours for long time. Planning to move to US next year and You and Mikhail Portnov where the people who influenced me. Before I always was afraid to do first step 😅

    Reply

  37. I think every successful person before start business they always take a job for earning money + experience . after that they take a loan for convet small projects to Big project… not depend others person…
    I hope you like my comments please give feedback..

    Reply

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