🚫 Top 10 Money Mistakes Young Adults Make | Financial Tips with Rick Heyse ⚓

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Host David Baughier and guest Rick Heyse, a soon-to-be retired military officer with a passion for financial planning, explain the crucial "money mistakes" that young adults often make.

🆓 Free Money Course: https://www.fiology.com/free-fiology-workbook/

This podcast is packed with actionable "money management tips for young adults" and is ideal for anyone starting their financial journey or seeking to improve their budgeting skills.

Top 10 Money Mistakes Discussed:

1. Not contributing to their Thrift Savings Plan (TSP)
2. Not opening a Roth IRA
3. Excessive disposable income spending
4. Buying an expensive car
5. Buying expensive recreational toys
6. Co-signing loans/leases
7. Loaning money to family and friends
8. Neglecting adequate insurance
9. Lack of knowledge about credit score
10. Ignoring medical and other benefits

💡 What You'll Learn:

• Essential tips on managing "money for young adults" and creating a robust financial foundation.
• Strategies for effective "money young" management, including insights on TSPs, Roth IRAs, and common financial pitfalls.
• Practical insights on budgeting, saving, and investing for long-term financial well-being.

📚 Recommended Reading:

Explore "The Psychology of Money" for deeper understanding of the psychological factors that influence financial behavior.

Amazon Link: https://a.co/d/hH79NSa

🔗 Resource Links:

TSP.gov: https://www.tsp.gov/

MyPay Website: https://mypay.dfas.mil/

VA Benefits: https://benefits.va.gov/benefits/

Free Annual Credit Report: https://www.annualcreditreport.com/index.action

Time Value of Money: https://www.fiology.com/compound-interest-can-make-you-rich/

👥 Target Audience:

This podcast is essential for young adults, military members, and anyone interested in enhancing their financial literacy and securing their financial future.

Don’t forget to like, subscribe, and share this podcast! Drop your questions or topics you'd like us to cover in future episodes in the comments below!

#FinancialFauxPas #MoneyManagement #PersonalFinance #Investing #RetirementPlanning #MilitaryFinance #CreditManagement #Insurance