Episode Details
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8 Money Traps To Avoid In Your 20s [2019]
Description
In this video I reveal the top 8 money traps that young people make. These are the key money mistakes you want to avoid as a 20 year old as they will cost you thousands if not millions of dollars over your lifetime. Many kids out of high school or college start making poor money decisions, so I made this video to help people in their twenties avoid money traps.
Here are the timestamps for each if you prefer to flick between them:
1. Not Investing (& How to get started) 0:42
2. Speculative Investing (& How to identify an Investment vs Speculation) 2:02
3. Spending Money on Clothes (& a better alternative) 4:02
4. Buying an Expensive Car (& Why its a waste of money) 5:07
5. Fearing the Stock Market (& Why you have no reason to fear it) 6:12
6. Credit Card Debt (& Why I consider this ‘reverse investing’) 7:46
7. Assuming a degree is a good investment (& What is a much better investment) 9:22
8. Not Investing In Yourself (& How I was able to see huge returns) 11:58
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Disclaimer:
The information in this video is general information only and should not be taken as constituting professional advice from Hamish Hodder.
Hamish Hodder is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances.
Hamish Hodder is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this video.
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