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Buying Designer Accessories and Clothes
Designer accessories and clothes are beautiful no doubt.
But, the cost of these luxury items can seriously break the bank.
Instead, shop at discount apparel retailers such as H&M and Old Navy to save a bundle.
Buying Expensive Vehicles
When youre a younger Gen Zer, you definitely dont need a fancy car.
Remember that a car is a depreciating asset and loses value the moment you drive it off the lot.
Living Above Your Means
Its never financially smart to live above your means.
Relying on Credit Cards
Credit cards can be your financial downfall if youre not careful.
This way, youll avoid high-interest credit card debt.
Not Setting a Budget
Budgeting is key to tracking what youre spending your money on each month.
Setting strict spending limits can help keep your finances in check and help you avoid debt.
Saving early allows you to take advantage of the magic of compound interest.
Your money will have more time to grow over time, exponentially increasing your retirement savings.
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