Money and Investing: The habits in your 20s and 30s that keep you financially stuck

This week on Money and Investing, Mitch Olarenshaw and I discuss the Biggest Money Mistakes in your 20s and 30s, focusing on the habits and decisions that can delay wealth creation.

1. Not Starting Early Enough

The biggest mistake is delaying your start. Time plays a major role in building wealth, and even small, consistent investments can grow significantly. Waiting even a few years can reduce your long-term results.

2. Delaying Investing

Many people plan to invest “later” when they earn more or feel ready. This mindset creates a habit of inaction. The longer you wait, the harder it becomes to build momentum.

3. Overspending to Stay Relevant

Spending to keep up appearances is a common trap. Lifestyle purchases may feel rewarding in the short term, but do not contribute to long-term wealth. Prioritising saving and investing is key.

4. Not Paying Yourself First

Before spending, allocate a portion of your income to investments. Setting aside even a small percentage consistently builds discipline and supports wealth growth over time.

5. Focusing on Income Instead of Wealth

Earning more money is not enough. Wealth is built through assets. Without investing and building an asset base, higher income alone will not create financial security.

For more Info about Money and Investing, you can go to the podcast; The Wealth Playbook: Your Ultimate Guide to Financial Security; and The Wealth Playbook by Andrew Baxter – Audiobook, which is on Audible.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.