Finding financial success: Avoid these money mistakes in your 20s and 30s

Your 20s and 30s are a time for growth—both personally and professionally. It’s a period of self-discovery, as you embark on your educational or career journey, battle through challenges and, hopefully, earn a bit of money along the way.

This is also an age where we make plenty of mistakes. It’s understandable and all part of the learning process of life, but if you can mitigate some of those missteps—especially around your finances—you’ll be happier down the line.

In his recent story, Forbes contributor Enoch Omololu outlined nine financial mistakes to avoid in your younger years. In this edition of Forbes Edge, we’re going to highlight some possible takeaways from five of those mistakes:

1. Don’t depend too much on credit cards: Credit cards are relatively easy to acquire, and even easier to misuse. Put responsible barriers around your credit card spending, such as aiming to only use 30% of your credit limit and, most importantly, paying back your entire balance before the due date each month. This not only helps boost your credit score, but it avoids accruing unnecessary interest. 
2. Remember to budget: The best way to understand your money is to visualize it. Budgeting sounds like a chore, but a variety of websites and apps make the process easier (and honestly, kind of fun). Sticking to a budget will help you stay on top of your income and plan for the future.
3. Set goals now: Start small, like cutting back on your dining out or shopping expenses. Then, reallocate those funds into a longer-term goal such as a down payment on a new car or even a home. Once you see the money start to grow, it can act as a motivator to find even more ways to save.
4. It’s not too early to save for retirement: You’re just getting started in your career and retirement feels like a lifetime away, but now is the right time to start building your nest egg. The earlier you start contributing to an IRA or 401(k), the smoother the savings road will be in the long term.
5. Have an emergency fund: Things might be going well for you right now, but life throws us curveballs when we least expect it. Prepare for the unexpected by setting aside money each month for an emergency fund, and aim to build up enough to cover at least three months of expenses.

Read the full story: 9 financial mistakes to avoid in your 20s and 30s

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Professional growth: How to thrive as an introvert at work

I’m an introvert. I’ve always enjoyed having time to myself in order to think and get my work done. That said, there are downsides to being introverted, as senior contributor Tracy Brower, Ph.D. writes in her recent article for Forbes. Many believe that extroverts have an advantage in terms of career advancement and opportunities for leadership. So what’s an introvert in the workplace to do?

Brower writes that the most important thing is to be yourself by playing to your strengths and bringing a calming presence to your team. Introverts are great listeners, and many have the ability to stay calm under pressure. These are positive attributes that are valued by leadership. By embracing teamwork, you can let your positive qualities shine and build self-confidence while maintaining who you are.

Read the full story: 5 surprising ways for introverts to thrive at work

Driving success: The essential financial questions to ask your partner with investor Jason Tartick

More: 

• How To Find A Greater Sense Of Purpose At Work
• How To Start A Business From Scratch
• Giving People Room To Grow Leads To Greater Overall Success
• 5 Good Work Skills For Leaders To Include In Their Résumé In 2024

Calling all success seekers: 

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Thank you for reading! We'll be back Thursday with another edition of Forbes Edge. 

This edition of Forbes Edge was written and curated by associate editor Chris Dobstaff.