Marc Guberti

Thu, Jun 5, 2025, 7:01 AM4 min read

It's okay to make financial mistakes as long as you learn from them and don't fall back into bad money habits. Financial influencer Vincent Chan recently shared the top financial mistake he made in his 20s, and it might be one that you've been making, too.

While people understand the value of saving money, paying off credit card debt, and investing for the long run, the biggest money mistake centers around how much you earn. Chan says that staying at the same job is the biggest financial mistake you can make, and he has the numbers to prove it.

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"Sixty-four percent of job hoppers say switching jobs actually leveled up their career faster," Chan explained.

Job hopping may be scary, but it can also lead to higher earnings. Here's how you can apply it to your finances.

Chan starts off by encouraging people to avoid thinking about their current job as a forever job. He proceeds to explain that you can make a lot more money by job hopping instead of staying put. If you treat your current job like a forever job, you may also be less assertive about asking for a raise or demanding change if your workplace is toxic.

However, there is another risk with treating your current job as a forever job. You never know when you might get fired. If you perform poorly, you will eventually get fired. However, if the company has a bad quarter and performs poorly because of executives' decisions, you can still get fired. Employees can also get fired because of lawsuits affecting the company that have nothing to do with the employees.

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If you stop viewing your job as the same one you'll stick with for decades, it's easier to focus on the numbers instead of getting attached to a company. It's then easier to walk away for a higher salary and explore better career options.

Even if you already have a job, it's good to apply for more jobs. That way, you won't feel rusty if you suddenly get laid off from your company. Regularly applying for jobs will also expand your network and can introduce you to higher-paying opportunities.