Financial mistakes in your twenties, reaching financial independence, money management tips and getting your kids off to college on budget.

1. 4 Big Mistakes of my 20s That Affected My Net Worth

Luke 1428 — We all make mistakes. It seems the dumbest mistakes we make are when we’re young. After all, we think we know everything when we’re the most inexperienced. Brian digs up four financial mistakes he made as a young man — let’s hope you twenty-somethings learn from him.

The doozy mistake he made was “Living for the moment vs. retirement.” He and his wife cashed out her retirement plan because they wanted a home. They took a tax hit, of course. They used it for a down payment but he realizes now that it was a bad idea. If you want more information on retirement, check out this video.

2. Reaching Financial Independence IS Possible and Here’s How You Can Do It

Making Sense of Cents — Michelle defines financial independence as earning ample income through passive investments, such as rental properties or “dividend income.” As a result, working at a job you hate is not necessary. Sounds wonderful, but nearly impossible. She disagrees.

Her first bit of advice is “cut your expenses.” She also gives four methods that show you how easy cutting your expenses can be. Of the four, “challenge your expenses” is the most interesting — and maybe the most difficult for many people.


3. When You Can’t Buy Things

Musical poem — Amanda banned herself from shopping this month. It’s made her think about the things she’s learned from this hiatus. She learned “to sort the wants from needs.” New clothes, makeup and shoes fall into the first category. Rent and groceries fall into the second.

She also learned what really matters in life. It’s not lipstick shades or a “cute purse.” It’s all about relationships, friends, and family. Maybe someone here will want to join her on this challenge. It’s a good way to cut your expenses.

4. Over 100 Financial Tips to Better Manage Your Money

Freedom Thirty Five Blog — Another great list helping you save and manage money — and a few entertaining quotes regarding money. For example, this sage advice from Benjamin Franklin: “Beware of little expenses. A small leak will sink a great ship.”

Other advice includes: Save for your own retirement, don’t rely on social security benefits or other things such as pensions. They may not be around for some of us. has some additional money management tips.

5. Get Your Kid Off to College Well Prepared, On a Budget

Money Talks News — This blog provides valuable information for those parents who watched their kids just graduate. It provides a list of items they should bring with them to campus — or where ever they’re living. And as the blogger states, start now don’t wait. Gather the towels, soap, cough syrup, etc.

There’s also some great advice on “strategic shopping” techniques and even teaching life skills. After all, your kids will be washing clothes and maybe doing some cooking on their own. Here’s some information on the value of a college degree. Just so you know all the work you’re doing for your kids might really pay off.

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Meet the Author

Brian Bienkowski

Brian Bienkowski


Bienkowski is a contributing writer and is the face of's 'By the Numbers' videos.

Budgeting & Saving

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Article last modified on November 22, 2017 Published by, LLC . Mobile users may also access the AMP Version: Around the Web: Financial Independence - AMP.