Your 20s and 30s are filled with firsts — your first real job, your first apartment, your first taste of financial freedom. But for many, it’s also the first time money starts to feel… confusing. Suddenly you’re earning, spending, sometimes saving — and hoping you’re doing it right.

But let’s be honest: most of us are not taught how to manage money. We learn by trial and error. And often, those errors come with a price.

If you’re in your 20s or 30s and feel like you’re figuring it all out as you go — you’re not alone. Here are ten common money mistakes many people make during this phase of life, and how you can avoid (or recover from) them.

1. Living Beyond Your Means

It starts small: a slightly nicer apartment, a few too many takeout orders, a new phone “just because.” Suddenly, you’re spending more than you earn. In your 20s, when income is often low and irregular, it’s easy to fall into this trap. And in your 30s, lifestyle inflation kicks in — the more you make, the more you spend.

Living within your means doesn’t mean depriving yourself. It means being honest about what you can actually afford, and finding joy in simplicity while you build stability.

2. Delaying Saving “Until Later”

It’s tempting to think saving is something you’ll do when you earn more. But the truth is: saving is a habit, not a number. Starting small — even with $20 a week — matters more than waiting for the “perfect time.” Because when life gets more expensive (and it will), it doesn’t get easier to save. It gets harder.

3. Not Having an Emergency Fund

Most people don’t expect the unexpected. But life happens — layoffs, car trouble, medical bills. Having even a small emergency fund can make the difference between a temporary setback and long-term debt. If you don’t have one yet, make it a priority. It’s your financial safety net.

4. Ignoring Debt

Student loans, credit cards, buy-now-pay-later — it adds up fast. And ignoring it doesn’t make it go away. The longer it sits, the more it grows. You don’t need to pay off everything overnight, but facing your debt and making a plan to tackle it will give you back your peace of mind.

5. Not Tracking Where Your Money Goes

Most people underestimate how much they spend — especially on “small things.” $8 here, $15 there, and suddenly your paycheck disappears. If you don’t know where your money is going, you can’t control it. Even tracking your spending for a few weeks can be eye-opening. Awareness is the first step to better habits.

6. Thinking You Don’t Need a Budget

Budgets get a bad rep. But they’re not about cutting out joy — they’re about giving your money direction. Without a plan, money leaks out. With a plan, you decide what matters. Whether you use a spreadsheet, an app, or just a notebook, having a simple budget gives you clarity and control.

7. Not Investing Early Enough

Investing feels intimidating — especially if you’ve never done it. But the biggest mistake is waiting too long. Time is your best friend in investing. Starting small, even with just a few dollars a month, gives your money time to grow. You don’t need to be an expert — you just need to begin.

8. Letting Money Control You Emotionally

Money is emotional. It’s tied to fear, pride, shame, and identity. Sometimes we spend to feel better, or avoid our finances because they stress us out. Learning to manage your emotions around money — and separating feelings from facts — is just as important as learning how to budget.

9. Comparing Your Finances to Others

Your friend just bought a house. Someone from school drives a luxury car. Instagram makes it all look easy. But you don’t see their debt, stress, or financial reality. Comparison is a trap. Your journey is yours. Focus on progress, not perfection — and don’t let someone else’s highlight reel set your goals.

10. Believing There’s Only One “Right Way” to Do Money

There’s no perfect formula. What works for one person might not work for you. The key is to stay curious, keep learning, and build a system that supports your life — not someone else’s version of success. Flexibility is part of financial growth.

Final Thoughts

Your 20s and 30s are a time of exploration — and that includes figuring out your relationship with money. You’ll make mistakes. Everyone does. But the most important thing is that you stay aware, stay intentional, and keep moving forward.

Financial freedom isn’t about doing everything perfectly. It’s about learning from where you’ve been, and making smarter choices from here on out.

No matter where you’re starting — it’s not too late, and you’re not too far behind.