Money Mistakes I Made in My First Year (So You Don’t Have To)

I made lots of money mistakes in my first year of college. Let's free you from the same financial burden.

Ignoring budgets.

I ignored budgeting since I assumed it was for "old people." One major error. I ate out and spent all of my money on internet shopping in the first month.

Not Keeping Track of Spending.

Until I examined my bank account, I had no idea where my money disappeared to. Keeping track of every expense in a Mint or Walnut app will enable you to view the whole picture.

Starting to accumulate credit card debt.

Using my credit card for everything seemed sensible. But I couldn't pay it off totally by the time the bill arrived. My own interest consumed me alive.

Ignoring Personal Savings.

I concentrated on not saving my pocket money but instead on using it. Start modestly with an emergency fund and savings target. Even ₹ 500/month will be beneficial.

Peer Pressure Consumption.

I purchased items simply because my friends owned them. Remember: You are not obliged just because your friends are purchasing new clothes or devices.

In essence, the first year is about learning from mistakes; I discovered that money is not as readily available as it seems.