Kicking Assets

A young person's guide to personal finance

Author: Victoria

15 Money Mistakes to Avoid in Your 20s

Your 20s are a fun and exciting time in your life but many important life decisions are made in your 20s and most of them revolve around money. There’s a lot of financial talk going around about what you should be doing with your money in your 20s, but don’t you want to know what not to be doing? In no particular order, here are 15 money mistakes to avoid in your 20s!

1. Spending too much money on rent
While rent prices vary depending on location, as a rule of thumb, you shouldn’t spend more that 30-40% of your annual income on your annual rent. Don’t rent beyond your means. Do your research and try to find roommates.

2. Not having an emergency fund
You never know what life is going to throw at you. It is very beneficial to have an emergency fund set aside in the event of a medical expense, a car accident, or even losing your job. It is suggested that you have 3 months worth of salary set aside but just start small and build it over time!

3. Not having insurance
Going off of the last point, get insurance! You never know what will happen. Whether it is health insurance or renters insurance, insurance is a very important investment. It is always good to be prepared.

4. Pretending you can afford expensive outings
FOMO is real and it may be hard to resist going out with your friends, but if weekly Sunday brunch is hurting your bank account, you may want to cut back. Suggest cheaper alternatives to your friends who may have higher salaries!

5. Not negotiating your first salary
Entering the workforce is really intimidating, and many young people make the mistake of not negotiating their salary. Even if it’s not that much more, it doesn’t hurt to try. Learn to say no and know your worth!

6. Not reading the fine print
When you are signing a lease, employer agreements, or any kind of contract, don’t forget to read the fine print. It is important to know exactly what you are agreeing too. It could save you a lot of money in the long run.

7. Not saving for retirement
Retirement seems so far away, but the sooner you start saving for retirement, the better the payoff will be in the end. If you have a full time job, see if you qualify for benefits.

8. Not having financial goals
Financial goals guide you in your money endeavors. It is important to know how you are going to save and spend your money.
Check out our last blog post to read more about healthy financial goals.

9. Failing to track your purchases
It is so easy to track your spending. When you see your purchases all laid out in one place, you are able to see where your money is going and what things are necessary and unnecessary.

10. Forgetting about monthly subscriptions
Monthly subscriptions can add up and oftentimes they are not all necessary. It is easy to lose money by forgetting to cancel subscriptions after free trials are over.

11. Committing to higher education without a plan
College is not for everyone, and graduate school is not for everyone. When considering going to school, think about whether your debt is going to pay off in the long run. It is important to have a long term plan.

12. Not having multiple streams of income
This may not be possible for everyone, but if you have the chance it is very beneficial to have multiple streams of income. These days, there are so many side hustles that can earn you extra cash, even from home!

13. Buying a new car
Buying a brand new car is a huge investment. Your car is a depreciating asset. Its value declines the second you drive it off the lot. Buying a used car can save you a lot of money and still gets you from place to place.
Check out our blog about buying a car.

14. Not comparing prices
When shopping, avoid automatically opting for the first thing you see. Do your research and find the cheapest option for what you need. While it may just be a one or two dollar difference, those few dollars can add up in the long run.

15. Avoid lifestyle creep
According to Investopedia, Lifestyle Creep is the phenomenon where discretionary consumption increases on non-essential items as the standard of living improves. Just because you get a higher paying job, doesn’t mean you can start spending more and buying expensive things. Always keep a frugal mindset and be responsible with your money!

Edited by Marcus

Saving Money Through Minimalism

You may have heard of minimalism before. Minimalism is often misunderstood, and has the stereotype of owning very few things, living in an empty room, and only wearing black and white. However, that is not what minimalism is.

According to The Minimalists, “Minimalism is a tool to rid yourself of life’s excess in favor of focusing on what’s important — so you can find happiness, fulfillment, and freedom.”

What this means is the practice of minimalism can help you change your life by allowing you to intentionally evaluate the things you have and decide whether or not they add value to your life. Through this process, you can decide to keep what you have, or eliminate them. Minimalism is not only beneficial for your mind, but it can also really help your finances!

Here are four minimalist practices to help you save money. While may not seem like they are impactful in the moment, in the long run, these practices can save you a lot of money.

Make Intentional Purchases
When you’re shopping, take a moment to pause and ask yourself if you really need this thing. Evaluate whether it is a “want” or a “need.” Think about what value this thing would add to your life. This simple practice can prevent impulse buys and allow you to spend your money more intentionally.

Choose Quality Over Quantity
When making purchases, try to choose high-quality items that will last longer and be more worthwhile in the long run. Opting for the cheaper option may be the convenient route to take, but it is more likely to fall apart or wear down after a short amount of time. Investing in things that will last longer will save you money, as you aren’t trying to constantly replace cheap items or clothing.

Downsize if You Can
A big part of minimalism is decluttering and letting go of things you no longer need. Once you have gotten rid of a lot of your belongings, you may find yourself not needing as much room for storage. While this option may not be possible for everyone, I huge way to save money is downsizing to a smaller or home or apartment when you realize you don’t need as much space.

Change Your Mindset
Many of our spending habits depend on our mindset. When spending money, it is important to consider why you are spending and how it will impact your life. Try to avoid spending because you feel obligated to spend – such as when you’re meeting a friend at a coffee shop, to don’t need to buy a coffee just because you’re there. When you’re buying a designer bag or pair of shoes, think about if you want them for yourself, or if you’re doing it for the purpose of showing off. Lastly, try to value experiences over material things. Meaningful memories cannot be replaced or duplicated. Invest in trips and experiences rather than material objects that may not hold value.

These four practices may seem minor and insignificant, but over time, they can leave an impact on your bank account and save you a lot of money in the long run. Consider slowly incorporating minimalism into your daily life and see the benefits for yourself!

Edited by Brianna

Money Management 101

Whether you’re in college or just entering the workforce, it is crucial to be responsible with your finances. However, it can be really scary and overwhelming to think about your money and the impact it has on your future. Here are three tips for managing your money!

1. Track your spending & Create a Budget

It is so easy to lose track of your spending. As a young adult, you should begin tracking your spending and creating a budget for yourself. This may seem intimidating, but it is actually really simple! Start by listing your monthly expenses in categories, such as bills, transportation, food, and entertainment. Access your spending and find things you can cut out of your spending on a monthly basis.

A simple and popular budgeting rule to follow is the 50-30-20 rule. This budgeting rule puts 50% of your monthly income toward necessities, such as rent and bills. 30% of your income goes towards “wants”, such as dining, shopping and entertainment. Finally 20% of your monthly income should go toward your savings.

There are also plenty of apps available that can help you create a budget and track your spending as well. Check out our blog about four personal finance apps here!

2. Build Your Credit

Credit cards can be very handy, as there are no overdraft fees. However, it is so important to only spend what you have and what you can pay back. Paying off your credit in full each month will help you build your credit up. A high credit score is very beneficial as it can help you in the future qualifying for loans and making big purchases.

Check out our blog about credit cards here for more information!

3. Start Saving Now

Using the 50-30-20 rule will make you put your money towards your savings, but even if you aren’t using that rule It is still important to start saving while you can, and building up.

It is a good idea to start an emergency fund. Putting money towards an emergency fund can help you tremendously down the road. Life can hit you by surprise. This emergency fund will be useful if any medical, vehicle or other unexpected expenses come up.

It is also important to save up as you start thinking about paying off your loans after graduating.

If you have a job, your employer may offer 401k benefits and you can start saving and investing!

In summary, track your spending, create a budget, build your credit, and start saving. These three simple tips will help you manage your money and make dealing with your finances much easier!


Edited by Marcus

4 Personal Finance Apps You Need

It can be intimidating to think about budgeting, saving, and investing. Thankfully there are great apps available that make these things easy in painless, right in the palm of your hand! Here are four great apps that are very simple and helpful in helping you make good financial decisions.

  1. Mint
    • Free
    • Available on iOS and Android
    • This app allows you to create your own budget, track your spending, and will even send you reminders to pay your bills. You can connect your bank and credit card accounts, and even your bills, so that all of your finances are conveniently on this app. Once your accounts are connected, Mint will automatically track and categorize your spending and transactions in order to help you handle your money. Mint is even able to show you your real-time credit score.
  1. Acorns
    • $1 a month or FREE for college students with a valid .edu email
    • Available on iOS and Android
    • Clueless about investing? This app will help you get started. How it works is, you connect your card, and every time you make a purchase, Acorns rounds up your purchase to the next dollar, and invests that change into an account that is set up for you. For example, if you buy a coffee that is $4.25, 75 cents will be invested for you.


  1. Qapital
    • Free
    • Available on iOS and Android
    • Similar to Acorns, once you connect a checking account, every time you make a purchase, Qapital rounds up the transaction to the nearest dollar. That extra change is put into a new FDIC-insured account that doesn’t require a minimum balance or any monthly service fee. Through this app you’ll be able to easily save money without even realizing it. The account is also able to earn a small amount of interest.

  1. Clarity Money
    • Free
    • Available on iOS and Android
    • Clarity is useful in many ways but is best known for tracking your subscriptions and cancelling any unused subscriptions, so you’re not throwing away your money. Clarity can also help you track your spending habits. By connecting your bank accounts, Clarity is able to organize your expenses, break down your spending by category, and track your transactions at a glance. In this app, you can also grow your savings by opening a High-Yield Marcus Online Savings Account.


All four of these apps can be very useful and helpful in your financial journey. They do all of the hard work for you! We hope you give at least one of these apps a try and find them helpful.



Edited by: Brianna

© 2024 Kicking Assets

Theme by Anders NorenUp ↑

Skip to toolbar