Advocating for financial education has become more than a passion — it’s now a purpose I live by. But I didn’t get here through textbooks or financial qualifications alone. I got here through my own painful, expensive, and emotional money mistakes. The kind that makes you pause, question yourself, and do better.
“Financial literacy isn’t just about numbers. It’s about self-awareness, values, and the stories we tell ourselves about money.”
You see, I studied finance. I knew better. I understood how debt works, the dangers of compounding interest, and the importance of budgeting. But knowing isn’t the same as doing.
In this two-part series, I’m sharing my 7 biggest financial mistakes from my 20s — not for pity or praise — but to start a conversation. To help us, as professionals, friends, and family, pause and reflect: How healthy is your relationship with money?
Here’s Part One.
Mistake #1: Dressing to Impress (on Credit)
Fresh out of university, eager to prove myself in the corporate world, I opened a clothing account — my first taste of consumer debt. I told myself, “If you look good, you perform better,” and I convinced myself that it was a smart move.
What started as a LSL2,000 clothing limit soon ballooned to LSL15,000. My monthly repayments climbed to nearly half my salary, just to keep up appearances. I had fallen into the lifestyle inflation trap.
The truth? I didn’t need new clothes. I needed self-confidence and financial boundaries.
Mistake #2: Buying a Car I Couldn’t Afford
With a net pay of LSL4,900 at the time and no real monthly budget, I made one of the most common financial mistakes: I bought a car, not because I needed it, but because everyone else had one.
Yes, I qualified for a car loan working at a bank. Yes, the monthly instalment seemed affordable. But I didn’t budget for petrol, insurance, servicing — or even a car wash. I had to rely on my sister for petrol and toiletries, while half my income went to the bank.
This wasn’t independence. It was denial dressed up as status.
Mistake #3: The Credit Card Trap
Enter: the shiny promise of credit.
When the bank offered me a credit card — because I was a “young professional with potential” — I jumped at the chance. Nights out, restaurant dinners, weekend trips… swiped on credit.
Soon, unpaid debit orders, overdrawn accounts, and revolving debt became my norm. I ignored everything I’d learned during my Bachelor of Commerce degree.
This wasn’t a failure of intellect. It was emotional. It was behavioural. It was financial avoidance, and I was drowning in it.
Lessons Learned (and Shared)
I could be embarrassed. I could pretend these things didn’t happen. But what would that help?
I now understand that debt isn’t just numbers on a statement — it’s psychological. Emotional. A reflection of how we see ourselves, our insecurities, and our need for approval.
And that’s why I’m sharing this because if I can fall into these traps, so can anyone else.
This is just Part One. In the next article, I’ll share the remaining four mistakes — from ignoring savings to avoiding financial planning altogether.
But today, I challenge you:
🟡 What financial mistake are you still justifying today?
🟡 Are your financial decisions based on your goals, or other people’s timelines?
🟡 Is it time to take stock and make a change?
Practical Steps to Reclaim Your Financial Power
If any of my story resonates with you, start here:
- Talk about money – with a trusted friend, coach, or community.
- Track your spending for 30 days – know exactly where your money goes.
- Cut the comparison – financial freedom isn’t a race.
- Start with one small win – pay off one account, cancel a store card, or save LSL200 this month.
It’s time we normalize these conversations — not just in boardrooms, but around dinner tables and WhatsApp groups too.
Let’s build wealth — not just salaries. Let’s heal our relationship with money.
See you in Part Two.
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