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Five common mistakes young - and not so young - people make when managing their money

Not “paying yourself” and overextending your credit card are two of the pitfalls to avoid in order to achieve financial stability at a young age

November 23, 2024 - 4:00 PM

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According to Professor Ircha Martínez, among the most common mistakes that young people make when managing their money is the irresponsible use of credit cards, not paying student loans on time, lack of planning of income and expenses, and the decision not to save. (Shutterstock)

By Narianyelis Ortega Soto

When it comes to finances, building economic stability from a young age can be complicated if you don’t have good money management, said Ircha Martínez, professor and consumer education specialist at the University of Puerto Rico (UPR) Agricultural Extension Service in Mayagüez.