Our seven-part guide has helpful hints for paying off student loans, negotiating your salary, building credit, and more. The road to financial independence is not easy, and usually requires patience and diligence early on. Here are the five most common mistakes young adults are making when building their financial lives:1. Waiting too long to start retirement savingPlanning for retirement is about finding a balance between putting money aside for later and having enough to pay for stuff now. “Social media creates the desire to keep up with others,” said Nick Reilly, a certified financial planner based in Seattle.

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