1. Starting work too late
This is by far the biggest problem, oftentimes caused by parents. Instead of encouraging kids to work, some parents only want their children to build their academic record and extra-curricular activities, not work history.
2. Accumulating useless credentials and degrees
When people who work too little graduate from university, they may find it hard to land a job. Due to fear of the unknown and lack of confidence.
The thinking goes: I can’t get interviews = I’m not a good candidate = I need more bells and whistles to “stand out” as a strong candidate.
3. Being idealistic versus being realistic
In 2009, the recession was in full-swing. However, attitudes towards careers were not. New graduates talked about this awesome career called “investment banking.” Nowadays, we believe the equivalent is “tech” or “AI” or whatever else is #trending.
4. Approaching work with the wrong attitude
Many people we all know denounce the pursuit of wealth. They proudly profess, “I work to live, not live to work.” This is the exact type of mindset that produces misery.
Many people allow their misery to cloud their life every day. At the retail store, restaurant, white collar job, or anywhere really. You’ll meet miserable, mean, rude, selfish, lazy, bitter, and incompetent people.
Find a job you can be good at and when you do, approach it with the right can-do, will-do, and work-hard attitude, and you’ll reap your just reward.
5. Refusing to understand the power and importance of MONEY
Our generation hates admitting that money is important due to how the student loans already take their toll on your appreciation of debt and financial management. Many already have a negative perception towards wealth and the pursuit of money.
Our generation is also very idealistic (back to point 3). Instead, get educated on finance and money. No matter how young you are, if you don’t have a large inheritance or trust fund coming your way, you’re already behind.
Your school also didn’t teach you anything about this, you better get going on understanding money and investing.