6 Stupid Things To NOT Do In Your 20's

Summary

In this video, Jimmy Talks offers practical advice for people in their 20s, focusing on financial independence, living situations, and career choices. He discusses the benefits of staying with parents to save money, the importance of getting roommates if living alone isn't an option, and the value of learning new skills. Jimmy also stresses the significance of avoiding bad debt, choosing worthwhile education paths, and prioritizing personal growth. He encourages viewers to be financially responsible, avoid unnecessary spending, and make smarter choices for their future.

Takeaways

• 😀 Living with parents in your 20s is fine if you have a plan and contribute to household responsibilities. Don’t be a mooch!
• 😀 The high cost of housing and rent today makes living at home a reasonable choice for financial stability in your 20s.
• 😀 Be productive while living with parents—help out with chores and contribute financially to create a win-win situation for both sides.
• 😀 If you can’t live with your parents, getting roommates can help you save money and avoid paying full rent on your own.
• 😀 Setting clear ground rules and chore schedules with roommates is key to avoiding conflict and ensuring fairness in shared living spaces.
• 😀 Whether working or attending school, having a job is essential to building financial independence and creating cash flow for future success.
• 😀 Stay out of bad debt as much as possible, especially student loans for degrees that don’t lead to a high-paying career.
• 😀 Consider community college as a cost-effective way to get the same degree as a more expensive university but without the massive debt.
• 😀 Trade skills (e.g., plumbing, electrical work, mechanics) can be just as valuable as a college degree, and often pay well without needing years of schooling.
• 😀 Don’t waste too much time or energy on dating or chasing women. Focus on building your career, skills, and financial independence first.
• 😀 Prioritize saving and investing over spending money on temporary pleasures like bars, expensive cars, and unnecessary luxuries.

Q & A

What is the primary advice Jimmy Talks offers to people in their 20s regarding living with parents?

Jimmy Talks suggests that living with your parents is fine if you have a clear plan and are not taking advantage of them. He emphasizes that it's important to contribute, whether financially or through helping with chores, to avoid being seen as a leech.

Why does Jimmy believe moving out at 18 is no longer a good idea for many people?

Jimmy argues that moving out at 18 is outdated because rent is now much more expensive, and wages have stagnated. Unlike previous generations, today's young adults can't afford to live independently right away without accumulating debt.

What does Jimmy suggest about the importance of having a job while living with parents or roommates?

Jimmy stresses the importance of having a job to maintain cash flow, even if you're living with your parents. A job provides financial independence, which is crucial for saving money and securing future financial freedom.

What does Jimmy recommend for people who cannot live with their parents?

For those who cannot live with their parents, Jimmy advises getting roommates to split the cost of rent and bills. He emphasizes the financial benefits of sharing expenses and suggests setting clear boundaries with roommates to avoid conflicts.

What is Jimmy's stance on going to college and accumulating debt?

Jimmy encourages people to pursue higher education, but only if it's in a field with good earning potential, like STEM or medical degrees. He warns against accumulating significant student loan debt for degrees that may not lead to a financially stable career.

Why does Jimmy recommend community college over traditional four-year universities?

Jimmy believes that community colleges are a more cost-effective option for obtaining an associate's degree, as they typically offer the same job prospects as a four-year university but with less debt.

What does Jimmy think about trades and vocational careers?

Jimmy defends vocational careers, like plumbing and electrical work, which can offer solid incomes without the need for a four-year degree. He criticizes the stereotype that trades are uneducated and highlights their value in society.

How does Jimmy suggest young men should handle relationships with women in their 20s?

Jimmy advises young men to avoid excessive focus on women, especially during their early 20s. He suggests that women in this age group often prefer older, more established men and that young men should prioritize self-improvement and financial independence instead.

What does Jimmy say about spending money on unnecessary items in your 20s?

Jimmy warns against spending money on flashy or unnecessary items, like expensive cars or frequent nights out, especially when you're still building your financial foundation. He encourages saving and investing in the future first, then spending on wants later.

What advice does Jimmy give regarding cars and car payments for young people?

Jimmy advises avoiding expensive car payments, particularly high-interest loans. He recommends buying a used car outright if possible, focusing on reliable and affordable vehicles like older Ford Rangers or Lincoln Town Cars, which are cheaper to maintain.