Three Common Errors Twentysomethings Financially Commit

When I graduated in my early twenties last five years ago, I could never be more happy. I 

couldn't wait to start on my new job and splurge my first year of finances on things I'd love 

to have that I couldn't afford. Of course, I had to pay off my college loan.

I knew that by the second year of my non-formative years, I had to do something for myself before I am done working in my industry.

Not Investing In Anything (Including Retirement)

One common error we youngsters often commit is not to contribute to my retirement as early as I can. I'm about 26 now, and I'm not really financially troubled despite having a son. 

I know retirement is far away. But my compound interests would do so much for me if I 

invested money in my ISA or other investments, which I did anyway.

And so should you.

Following Product Trends

During college, you see your more well-off peers have the latest gadgets or at least the convenience of digital tools to help them research. During my first year out, I purchased the newest, fastest Apple iPhone out in the market. I was supposed to follow through with the latest until I realised that every young professional I worked with was following this expensive and non-productive trend.

Following product trends is only helping the company and not you. As their value wears out completely in just a single year, they're the most useless investment you'll inject your hard-

earned pennies in.

No Emergency Funds

You know during college when we used to keep some money from our allowance into a sock or back compartment of a drawer for those weekends off or a date with a prospective somebody? Well, that's what an emergency fund is. Why many of my generation forgot about these emergency funds, I don't know. But I suspect it's due to a lack of dates.

But there's always time to place money in an emergency fund. The EF will help you pay off some bills or contribute to retirement. Despite having insurance, liquidated money on hand is a better option during health-oriented mishaps that can happen to you at any time.

Britain Must Introduce New Taxes For Diesel Cars In Britain

Looking at Britain's sinful pollution levels, it's proper that the UK introduce additional taxes for diesel car entries in the country. Only for retail purposes of course. 

Following the huge Volkswagen scandal that led to the recollection of thousands of cars and billions of pounds in environmental penalties, the UK is bound to pay additional money for carbon emissions if it would not resolve its pollution problems.

Analysts at Policy Exchange believe it is high time for the UK government to introduce a £800 pollution tax for the sales of new diesel cars. Air pollution must be reduced in the United Kingdom or else.

“London and many of the UK’s other major cities are facing an air pollution crisis, with residents exposed to illegal and unhealthy levels of NO2 pollution,” said Richard Howard, head of environment and energy at Policy Exchange. “If we are to clean up air pollution, then government needs to recognise that diesel is the primary cause of the problem, and to promote a shift to alternatives.”

Howard said: “I know the government is thinking hard about this.” He said increased vehicle excise duty [VED, or ‘road tax’] on new cars was preferable to increasing the tax on diesel fuel or banning diesels from city centres: “It needs to be done in a way which does not unduly penalise existing diesel drivers, who bought their vehicle in good faith, and gives motorists sufficient time to respond.”