7 Money Mistakes You’re Making In Your 20s & 30s
Walking into our twenties feels like we're stepping into our artificial glow of the "I'm grown, and no one can tell me nothing" phase; however, it's the decade we're prone to making the most money mistakes. What we do with our money in our twenties could also roll over into what we're doing in our 30s. And if you're not careful, your poor spending and saving habits can cost you in the long run.
Next thing you know, when you're ready to buy a home or car and they run your credit, and it looks horrible – you have no one to blame but yourself. Stepping into adulthood, we have to own our spending habits and pave the way to build financial wealth. It's never too late to change your money mistakes, but you have to be committed to following that plan instead of enabling those bad habits. Here's a list of things you may be doing now that you NEED to change ASAP.
Not having emergency funds
Over It Reaction GIFGiphyI know when we're young, we tend to think we're untouchable. Life won't shatter in our faces, but that's a false narrative; emergencies happen to all of us – despite our age. Though we may be committed to the jobs we work at, they aren't always committed to us when they have their personal quotas to meet.
So it's possible in some part of your life you can lose your job, and what happens next when you don't have the financial backing to depend on while you're job hunting? You should aim to have at least three months of living expenses saved in an emergency fund just in case that storm ever hits where you have no income and need some grace period money to get you off your feet. Start small and begin by saving $1,000 and then keep adding to it month to month until you have three months. Dave Ramsey has a great resource on how to quickly build your emergency fund. You can find that here.
Spending more than you make
nicki minaj money GIFGiphyLearning to live below your means is the top tier secret to building wealth. I know the media plays a significant role in our spending habits as we see everyone do everything, and then we sit back and question why we aren't doing that too. Don't let comparison steal your joy and mislead you into financial ruin by living above your means.
No, you don't need every cute shoes you see or to say "yes" to every vacation your friends invite you to. You have to create a financial structure that will help you thrive in the long run, not just in the present. If you want that business, house, or car, it's not going to invest in itself; it needs your disciplined spending to build it.
Living off credit cards
Season 4 Episode 6 GIF by The OfficeGiphyListen, y'all, credit cards can be life-saving when you're in a bind, and they can also ruin your life if you don't know how to manage them. According to WalletHub, Americans started the new decade last year by owing a collective $1 trillion in credit card debt. For those who have credit card debt, the weight of the financial burden can feel quite debilitating and it can sometimes be a hole that is hard for debtors to climb out of.
In fact, the more you owe on your credit cards, the harder it is to bring up your credit score, and oftentimes credit card companies do not raise your credit limit when you owe a balance. So in order to get ahead of credit card debt, pay more than the minimum payments, factoring in the interest cost to reduce the amount of credit card debt you will have and increase your credit score.
Not saving for retirement
Oprah Retirement GIF by swerkGiphyThe sooner you start investing in your 401k or other retirement accounts, the longer that money can accumulate interest and the more funds you'll have when you are ready to retire. Saving for your retirement doesn't have to start out big; you could start out at 22 years old with your first job, investing two percent of your income to retirement and increase that rate every year or every other year. So when you step into your thirties, you'll be at the healthy ratio of investing 10 to 15 percent of your income into your retirement funds.
Not diversifying your income
work working GIFGiphyMonogamy is meant for relationships, not our careers. Don't over-commit to one job because when they need to cut their budgets or just feel like you don't fit their role anymore – they'll just let you go without warning. It's always great to have a side gig or several side gigs you can jump back into if things ever go south with your main job.
Don't burn the bridges of your side gig braiding hair, flipping homes, babysitting, dog sittings, etc. If you're a great chef, still cater events when you can; if you're a jewelry designer, work on designing your own pieces and selling them in your spare time instead of only focusing on your corporate jobs design line. Bringing in more income opens doors to invest more and build generation wealth, so those little side jobs can be investing in your child's tuition or buying that condo you have your eyes on.
Not getting renter’s insurance
stressed out stress GIF by SZAGiphyIn our 20s and 30s, we're mainly focused on moving out of our parents' place and living independently in our new apartments. I didn't even know of renter's insurance until a year of living on my own. Some people may think it's pointless because what are the odds water damage or a lousy tornado will occur and ruin your place? Or the odds that someone breaks into your apartment and steals your laptop and TV? But it happens and if you stay ready, you don't have to get ready.
So now that you have the picture painted on the potential loss, that small monthly expense doesn't seem unnecessary; it becomes a no-brainer to have some sort of renter's insurance while living in your apartment. It's better to be covered just in case versus having to cover the expense of your things if they are destroyed or stolen.
Not having a financial plan when you move in with a partner
Couple Chillin GIF by Ryan TreyGiphyTesting out the waters before marriage by living together is cute and all but you and your partner need to have the heavy conversations regarding finances. Deciding who pays what bill and how much of the rent you'll contribute, and more than anything, what you both are saving towards. Openly discussing your budget and spending habits helps to hold each other accountable to work on your credit scores, pay down debts, and entertain conversations like buying a house together and investing in vacations, babies, businesses, etc.
It may be an awkward conversation initially, but it's a conversation worth having to make sure you both grow together financially. If you find that you are not on the same pages financially, it might be worth holding off on cohabitating. Additionally, it might be useful to get something down in writing that covers the both of you if the relationship ends and you want to skip the potential mess of figuring out who lives where and if the lease will be broken.
Ladies, money mistakes are going to happen one way or another. But we have to start making big money moves by adjusting how we spend our money and what we invest in. It's never too late to stop those bad habits and create new ones to open the doors to financial freedom.
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Ajeé Buggam is a content writer and fashion designer from New York City and an alumna from the Fashion Institute of Technology. She specializes in writing about race, social injustice, relationships, feminism, entrepreneurship, and mental wellness. Check out her recent work at Notes To Self
ItGirl 100 Honors Black Women Who Create Culture & Put On For Their Cities
As they say, create the change you want to see in this world, besties. That’s why xoNecole linked up with Hyundai for the inaugural ItGirl 100 List, a celebration of 100 Genzennial women who aren’t afraid to pull up their own seats to the table. Across regions and industries, these women embody the essence of discovering self-value through purpose, honey! They're fierce, they’re ultra-creative, and we know they make their cities proud.
VIEW THE FULL ITGIRL 100 LIST HERE.
Don’t forget to also check out the ItGirl Directory, featuring 50 Black-woman-owned marketing and branding agencies, photographers and videographers, publicists, and more.
THE ITGIRL MEMO
I. An ItGirl puts on for her city and masters her self-worth through purpose.
II. An ItGirl celebrates all the things that make her unique.
III. An ItGirl empowers others to become the best versions of themselves.
IV. An ItGirl leads by example, inspiring others through her actions and integrity.
V. An ItGirl paves the way for authenticity and diversity in all aspects of life.
VI. An ItGirl uses the power of her voice to advocate for positive change in the world.
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So, here’s the deal: if you’re over the age of 35, perimenopause can last anywhere from a few months to an entire freakin’ decade. And so, if you’re wondering why I’m talking about menopause more often these days…now you know.
Okay and just what does perimenopause and especially menopause have to do with your skin? Chile, where do I even start? SMDH. Probably the easiest way to explain it is that when your estrogen and progesterone levels drop (which is what automatically happens during that time of life), it can directly impact how your skin both looks and feels. Your skin may feel drier, thinner, or appear less “full” (meaning plump) — and all of that can make it look older than you want it to.
Honestly, that’s why a lot of skincare products are marketed as being “anti-aging”; it’s their gentle way of saying skin that is perimenopausal or menopausal. In fact, I actually read that during the first five years of menopause, it’s pretty common to lose as much as 30 percent of the collagen that’s in your system (check out “We Lose Collagen As We Age. 10 Ways To Naturally Boost It.”). And since collagen plays such a significant role in your skin retaining moisture, having elasticity, and avoiding the fine lines and wrinkles that most of us would prefer to put off for as long as we possibly can, it’s important to do what can be done, even now, to keep a youthful and radiant glow.
So, let’s get into it. Because there is indeed such a thing as menopause skincare (the anti-aging industry brings in literally billions of dollars every year because of it), I want to share 12 things that you can proactively do to care for your own skin: whether you’re in perimenopause, menopause, post-menopause or just…curious.
1. Eat More Phytoestrogens
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Okay, so since you lose quite a bit of estrogen during menopause, if you don’t want your skin to look like you did, you should consider consuming some phytoestrogens. Those are foods like dried fruits, garlic, plums, pears, apples, onions, and collards that come from plant-based estrogen. Since phytoestrogens are able to do everything from bring more hydration into your skin to boost your collagen levels, if you want to “push pause” on the aging process of your skin from the inside out, eating phytoestrogens is certainly one way to do it.
2. Also, Consume More Collagen-Enriched Foods
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We already touched on what collagen is able to do, which is why it’s a good idea to eat foods that are rich in this particular structural protein as well. Chicken, broccoli, bone broth, berries, cashews, egg whites, and citrus fruit can get you right in this department. Know what else can? Green tea.
3. Enjoy Some Dark Chocolate
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Women who are postmenopausal should consume dark chocolate on a consistent basis because it helps with their heart health. Something else that research reveals is dark chocolate is great when it comes to boosting cognitive function (which can also decline during menopause when it comes to your memory). Your skin could use dark chocolate because it increases blood circulation to it. Also, dark chocolate can protect your skin from damaging UV rays. And since dark chocolate helps to reduce stress, that is just one more reason to snack on it — and perhaps why you should consider applying a dark chocolate face mask a couple of times a month, too (you can check out some more info via StyleCraze on all of that here).
By the way, it should go on record that the key is not to pick up a Hershey’s bar on your way home. You need to eat the kind of dark chocolate that contains no less than 65-70 percent cocoa. Yep, the less sweet and more chalk-like it tastes, the better (just sayin’).
4. Put Aloe Vera Juice in Your Drinks
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The antibacterial, antioxidant, and anti-inflammatory properties in (pure) aloe vera juice can do wonders for your system. Not only is it full of antioxidants and vitamin C, but aloe vera juice can also help to improve digestion, regulate your blood sugar levels, improve your oral health, soothe heartburn, and keep your vision healthy and strong. As far as your skin goes, aloe vera juice will definitely help it to maintain a proper level of moisture. As a bonus, it can also help to increase collagen production and improve elasticity in your skin.
Oh, if the thought of drinking aloe vera juice straight makes you slightly want to throw up in your mouth, take it from me that if you put a tablespoon in your juice or smoothie, you will hardly even notice that it’s there.
5. Up Your Water Intake
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Our bodies are made up of mostly water; so, of course, we need it. How much? For regular maintenance purposes, many health experts say that we, as women, can benefit from nine cups a day. If you want to shed a few pounds, 1-2 liters are recommended. And when it comes to dealing with menopause, in general, and avoiding dry skin that comes from it, at least do the bare minimum (although adding a couple of glasses of water to that would be ideal). The bottom line here is hydrate, hydrate, HYDRATE. If you want to get a leg up on menopausal skin, that’s gonna be how you do it best.
6. Take a Probiotic
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You’re gonna be hard-pressed to read something on gut health and not see a probiotic mentioned (check out “80% Of Your Immunity Is In Your Gut. Take Care Of It Like This.”). That’s because there is plenty of data out here to support that taking a probiotic can do wonders for keeping your intestinal health in great condition. Your skin will thrive off of a probiotic because, not only is it proven to decrease the amount of water that your skin loses, but it also helps to improve the quality of your skin too.
7. “Seal Your Skin” with Marula Oil
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If you want your skin to look as young as it possibly can, it’s always a good idea to look for products that contain a lot of antioxidants, essential fatty acids, and amino acids; one of those is marula oil (which is an oil that comes from marula fruit). In fact, one of the reasons why it gets a shout-out here is a lot of skincare experts recommend that you use it to “seal in moisture.” And since that is a great way to keep water in your skin (for longer) after taking a shower or bath, if you’re looking for the perfect oil to keep your skin feeling super soft and hydrated, hours after washing up, marula oil is one to keep in mind (plum oil is pretty bomb too, by the way).
8. Hyaluronic Acid Is Your Friend
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Over the past several months, something that I’ve been becoming more and more of a fan of is hyaluronic acid (check out “Why Your Skin, Hair, And Nails Need Hyaluronic Acid Like...Yesterday”). As far as menopause goes, it can actually help to naturally treat vaginal atrophy in postmenopausal women. Also, when it comes to your skin, since it actually has the ability to make it more flexible — well, that can make fine lines and wrinkles less of a visible issue.
9. Do Chemical Peels
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Last fall, I wrote an article for the platform entitled, “I've Been Doing At-Home Chemical Peels. Here Are The Pros And Cons.” I did it because, ever since I started doing chemical peels, I’ve started to see a nice shift in both the appearance as well as the texture of my skin. Anyway, since fine lines and acne are two things that oftentimes come with menopausal skin (more on pimples in a bit), and that is just what chemical peels help to treat, applying them on a consistent basis could be a wise move. You can get a potent chemical peel from a skin professional, or you can do what I do and go the lighter route at home. I’ve had no regrets (other than not fully following the directions and getting a mild chemical burn on my face once in the beginning) since doing so.
10. Try CeraVe (No Joke)
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I can’t remember the last time that I watched television, and a doggone CeraVe commercial didn't come on at some point. Personally, I’ve never used any of the products before — I might consider it now, though. Apparently, “the ceramides in CeraVe” are exactly what our skin is longing for during perimenopause and menopause. Long story short, ceramides are the fats that are in our skin cells; they actually make up around 30-40 percent of the outer layers of our skin. And since you not only lose quite a bit of ceramides during menopause, their structure tends to change too — next time you’re at the store, picking up a CeraVe moisturizer certainly couldn’t hurt.
11. Do Research on “Menopausal Acne”
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It’s like it never ends. Lawd. Okay, so why in the world, would we as grown-ass women, end up with acne? The bottom line here is just like hormonal fluctuations can trigger breakouts in teenagers, pretty much the same thing can happen to us during perimenopause and menopause. From what I’ve read and researched, as far as how to treat it, you can do similar things that you did as an adolescent (if acne was an issue), including applying benzoyl peroxide and topical retinoids. Although, if you’ve never been to a dermatologist before, this may be the time to do it. They may be able to customize a skincare regimen that can make getting through this season of acne a lot easier for you.
12. Don’t Forget About Sunscreen
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Even though we’re more melanated than any other demographic (and I love that for us!), it is ridiculous to think that skin cancer cares about that. Know what else some of us need to let go of? The belief is that we only need protection from the sun during the summer months. Listen, so long as the sun is shining, rays are beaming, and they can ultimately damage our skin (even in the wintertime). And since menopause makes skin thinner, which ultimately means that it’s more vulnerable, you definitely need to make sunscreen a part of your daily skincare routine, now more than ever. You can check out a list of some of the best sunscreens for our complexion(s) here.
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Menopause skin prep. Chile, you ain’t gotta tell me — I’m right there with you, somewhere in perimenopause. Hopefully, this intel will make shifting into the transition easier to bear…so that “Black not cracking” can remain intact. Even during the seasons of (perimenopause) and menopause.
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