Didn't Save in Your 20s? Here's Why it's OK!

and lasting impact for tomorrow. Let's get into it.

hype girl. This episode is all about flipping the script on how you can see your past and realizing that your youth it wasn't wasted, even if your savings account doesn't necessarily agree. I saw a post on socials recently that said, sorry, I didn't save money in my twenties, I was learning to love myself, and for me, that really hit home because I feel like I spent a majority of my twenties just trying to keep up with

I don't know the Joneses or the Kardashians. We can all feel a little lost when we start measuring our lives against everyone else's highlight reel. It's tempting to look back and think, oh my gosh, I should have done things so differently. But it's important to remember that every choice, every misstep, and every adventure has played a role in getting us here. So let's cut ourselves a little bit of slack and embrace the lessons we've learned along the way.

A great place to start is by acknowledging that your twenties are a time of exploration of life, love, and yes, sometimes spending money like there's absolutely no tomorrow, whether it's traveling, dining out, or buying those must have festival tickets. The money we spend in our twenties often goes towards experiences that help us understand ourselves better. This is all completely normal, and in fact, there was some research done by event Bright that found that seventy eight percent of gen Z

prefers spending their money on experience over material things. It's all about living in the moment, and honestly, I totally get it. When I was in my twenties, my your money was I'll just pay it back when I get more of it. I'll just organize it when I earn more. I'll just spend less when life gets serious, and that's

pretty normal. According to ASIK, one in four gen zs have less than one thousand dollars in personal savings, including eight percent who have none, and on average gen Z estimate having personal debt of eighty one hundred and eighty eight dollars each. That's a lot of money. In fact, studies have shown that the average person doesn't start saving

seriously until they're well into their thirties. According to the ABS or the Australian Bureau of Statistics, the median age for buying a first home in Australia is now thirty four a really clear sign that financial milestones are happening a little bit later for many of us. So if you're feeling behind, my friend, you are definitely not alone. I'm going to take a break, but stick around because when we come back, we're going to dive into why

your brain might just be the culprit. Welcome back, my friend. And here's where it gets a little bit interesting, a little bit spicy. Per se your brain, specifically the prefrontal cortex, or the part that's responsible for decision making, and your impulse control doesn't fully develop until you're about twenty five years old. So when you look back and think why did I spend so much money on that, well, your

brain was still figuring things out as well. Another powerful force in our twenties is instant gratification, something I'm incredibly guilty of, which leads to higher spending and less in savings. When you see something that you want, like the latest iPhone or a weekend get away, the urge to have it immediately can overshadow the long term benefits of saving that money instead. This tendency to prioritize immediate rewards is

a really common struggle among young adults. Research from The American Psychological Association highlights how this drive for instant gratification can completely derail financial stability. It's not just about impulse purchases. It's a psychological challenge that makes it harder to delay gratification in favor of long term financial success. This is a critical factor in understanding the financial habits of young adults and why saving often takes a back seat to spending.

And let's not forget about that tendency to focus on short term goals. When you're in your twenties. Retirement feels like an entire lifetime away, so it's really easy to prioritize short term spending over long term saving. Another massive thing you're dealing with is social comparison in your twenties, and in my twenties, you were constantly bombarded with what everyone else was doing. They're traveling the world, they're partying, and they're having fun, and it's hard not to feel

like you need to keep up. This pressure can drive spending beyond your means just to match what you see around you. And that's exactly how I ended up in more than forty thousand dollars worth of personal debt in my twenties. Finally, there's that risk taking behavior we need to chat about. Your twenties are often when you're most willing to take financial risks or jump out of a helicopter like I did. Whether it's through investments or big purchases.

The belief that there's plenty of time to recover from potential losses can lead to decisions that might not be the wisest in the long run. Understanding these psychological factors is going to help you make sense of your financial decisions in your twenties and not crucify yourself so much. We often hear this narrative that if you didn't start saving in your twenties, you're somehow completely behind for life, like there's some imaginary deadline for getting your financial act together.

I can tell you, my friend, that is not true at all. Let's flip that script. Your twenties are a time for exploration and growth, and it's completely normal if saving wasn't at the top of your list. You know what. The good news is, though you are not doomed, You're not even close to it. The truth is it is never too late to start working towards the financial future that you want, and that you deserve. The key is to focus on where you are now and how you're

going to be able to move forward from there. Maybe you didn't have a solid savings plan in your twenties, but that doesn't mean you can't start one right now today. Every single step you take from this point on is progress. It is a small step in the right direction, and my friend, we need to focus on the fact that it is still the right direction and with the right strategies, you can make significant strides towards your goals. So let's not get caught up in the should have cold of

like I did. I literally spent so much time in my late twenties getting out of debt. But when I was doing that, I was lying to the people around me. I didn't want to admit that I was in debt. I felt like I had absolutely screwed my life up, that there was absolutely no going back and I was never going to be able to financially recover from that. I took back control. Not only did I take back control, but I created this entire community so that we can all feel like we're in control. So how do you

personally want to take that control? Let's dive into what you can do right now to start building the financial life that you do. Don't scoff it that you do deserve it. It all begins with really simple, actionable steps that are tailored to your current stage in life, and you can do it yourself. We're not talking about massive overhauls or drastic lifestyle changes, just small adjustments that make

a really big impact over time. Maybe it's as easy as setting up an automatic transfer that sends a really small amount of money from every paycheck that you get straight into your savings account. Think of it as paying yourself first, even if it's just like twenty bucks a week or even a month, or maybe for you, it's about bumping up your SUPER contributions by an extra five percent. My friend, that's few to you. She's thanking you already.

The key is to start with steps that feel doable and that actually align with where you're at, so that you're not overwhelmed by the pressure to do it all at once. And if you're thinking about this and you're going v I don't even have twenty dollars a week or month, and I could not do five percent extra on my Super, No worries. That doesn't matter. You're here,

you're listening to this podcast. This is the smallest step in the right direction to getting your life on track, and just knowing more and just being educated is putting future you first. Maybe you're someone who racked up a lot of super accounts in your twenties, so consolidating your account to save on fees would be a really great step. Or maybe you could start tackling one high interest debt at a time. And hey, it's okay if your steps

don't look like everyone else's. Your financial journey is yours alone, So focus on what feels right for you, what feels manageable, what is doable. The most important part, though, it's to start even the smallest steps, like skipping a takeaway coffee once a week and putting that cash into your savings. It can add up over time. It's about creating habits that build momentum, so every step feels less like an effort and more like a routine. And remember, my friend,

this isn't a sprint, it's a marathon. Your progress, no matter how small, is worth celebrating today. I'm cell of greeting you.