CNBC Make It on LinkedIn: 28-year-old with net worth over $500,000: 5 money mistakes to avoid in… (2024)

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People in their 20s don’t always have much experience managing their finances, which means it’s easy to make mistakes, such as misusing credit cards or falling into debt because of “lifestyle creep.”These mistakes are often quite common, too, says Michela Allocca, a 28-year-old personal finance coach who specializes in helping young professionals.The “Break Your Budget” author has successfully navigated what she describes as the “weird time after college where you’re still figuring out how to manage a salary.” In fact, her net worth is more than $500,000, according to documents reviewed by CNBC Make It.Here are five common money mistakes that can result in unnecessary debt or a missed opportunity to build wealth, drawn from Allocca’s experience.

28-year-old with net worth over $500,000: 5 money mistakes to avoid in that 'weird time after college' cnbc.com

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