What are the biggest financial mistakes that young adults make?
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$2 Answers
I have a feeling that I wasn't alone in this attitude then and that a lot of young people these days are the same.
I used to spend my money without any thought of saving some of it, that was a huge mistake and to encourage a youngster to save would need a fairly interesting incentive, maybe like a holiday to get them interested.
I'm not sure that it is possible to avoid financial mistakes when you are young, it's all part of growing up, but one of the worst risks now, that was not present when I was young is credit card debt.
I don't know whether the economic crisis has had much effect on the ability to obtain credit cards, but they can be very risky for someone young and inexperienced.
Your cousin sounds to be one of the more sensible kids, if you can talk to him and explain how it's possible to get in a financial mess, by misusing credit, it might be worth a try.
As to how to go about it without lecturing him or boring him rigid, now that's a different matter!
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
http://www.youtube.com/watch?v=RmQiOEC8UnM
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
