These handful of practices could be secretly draining your earnings.
2 min read
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In this video, Entrepreneur Network partner Jeff Rose discusses a few grown-up expectations that are preventing you from making money.
One of these commonplace habits is spending money on alcoholic drinks. Rose notes that millennials in particular have gotten a bad rap for spending obscene amounts of money on alcohol. Rose notes spending money on clothes can also add up. When he was coming straight out of college, Rose remembers how he was itching to replace much of his clothes with top-dollar choices.
From there, Rose points out many of these sorts of grown-up purchases are put on the adult payment of choice: credit cards, which are notorious for driving up interest. Rose also talks about how accruing rewards from credit card points can help pay for travel, earn cash back and build up other benefits.
Finally, many young professionals who are also first-time parents spend obscenely on their children’s birthday parties. At times, just for their child’s first birthday, parents will spend around $500 on the party alone.
To hear more costly adult spending habits, click on the video.
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