10 Money Mistakes you must avoid during your 20s to secure your financial future

2. Not having an emergency fund

Anyone can experience an emergency at any age. Such unforeseen circumstances could range from the loss of a job to a car-maintenance bill. The lack of an emergency fund could make you prone to debt and give you peace of mind during stressful situations. According to financial experts, you need to save at least three months in advance worth of your salary. As you save, ensure that you include the emergency fund into your budget. Related to the mistake of emergency fund is the failure to budget for things. Lacking a sound budget leads to overspending or spending on unnecessary items.
You will grapple with unexpected expenses as you get into your thirties. So it’s best for you to anticipate unexpected costs by having an emergency fund.
Unexpected expenses will pop up more and more as you get older and busier. It’s best to prepare yourself for unexpected costs by creating an emergency fund.