Our twenties are a wild ride. Most of us are faced with dealing with finances on our own for the first time. We are just entering the workforce, trying to pay-off student loans and learning to manage credit cards. Adulting.

READ MORE: Money mistakes the youth should avoid

In order to avoid terrible financial setbacks, Standard Bank holds that financial discipline in your twenties is pivotal because it sets the tone for your thirties.

"Consider minimising your debt and your expenses, while maximising savings.

You can do this by living with your parents while you save for a deposit on your own house, instead of moving into a rental property and paying a landlord," they advice.

READ MORE: Money mistakes women make

In a recent Reddit thread, women shared bad money decisions they made in their 20s to help you avoid falling into the same trap.

Sometimesiamdead turned down a scholarship for a flimsy relationship

I got accepted to a university several hours away and was offered a scholarship for $25 000 (R357 800). Instead I went to a more local school so I could stay with my boyfriend. We broke up halfway through first year.

Tacoflavordkisses bought a pricey car instead of saving

I bought a $36 000 (R 515 500. ) car, probably shouldn't have done that. I would have rather saved the money. The car is about to be paid off so I just look at it as a lesson learned.

Geekyspacegirl420 made too many credit card mistakes

Definitely not taking credit cards seriously. I finally have a great credit score after too many years of fixing my mistakes. Always pay off your balances people! It adds up fast.

Oneleggedhipster regrets wasting money on cigarettes 

Honestly, probably smoking. As a pack-a-day smoker I was spending $14 (R200) daily.

Tarpy32 once bought an insanely expensive weave

Going bald at 22, I went to a hair salon and spent $1 500.00 (R 21 400) for a weave. Ripped it out after two days. Biggest waste of money.

Breninnog regrets blowing inheritance

Had an inheritance turning 21 of around $31 000 (R 443 770) which disappeared within a year. I would have a ridiculous amount of savings by now if I could have managed my money better.

Guera08 got behind on taxes

Working under the table, not paying taxes, and then realising I needed to fix the gaping hole in my work history. Paying off four years of back taxes, when you count interest and penalties its double what I would've paid if I had done it on time.

Bad_girl_dragon wishes she could have saved her wages

Blowing my entire paycheck each week. So when the housing bubble burst and all the family construction crews went belly up, I was ruined. I had no savings, and no skills in anything that was paying at the time. So I ended up homeless. I'm still pulling myself out of that hole over a decade later.

Girlxxxx spent too much money on alcohol and friends

I used to go out all the time when I really didn't have the margin to be spending money on booze. Whenever groups of friends would buy each other rounds, I felt pressured to buy rounds, too. None of that was necessary, and you're totally allowed to stay home because you can't afford to go out.

Krose4117 avoided paying off student loans

Letting my student loans go to default and ruin my credit. They are paid off now and it is a huge weight lifted, but I always tell people to pay them off as quickly as possible so that doesn’t happen to them.

READ MORE: A ladies guide to ‘accessorising’ for a financial future

We asked three South African women to share the worst financial mistakes they made in their 20s.

Zinhle Mbambo

"I borrowed my ex-boyfriend R 20 000 to help him kick start his business three years ago. I'm now thinking of taking him to small claims court because he won't pay it back. The worst decision I ever made."

Miranda Sibanda

I'm still angry over the R 35 000 I lost in a Ponzi scheme when I was 24 years old.

Charlotte Kheswa

I spent too much money on clothes when I started working. I have a poor credit score to this day because of that.

Do you want to share your money lessons? Chat to us here

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