At the height of your youth, you may feel invincible to some extent. This is especially true for single people in their 20s or 30s who are free from the physical, emotional, psychological, or financial responsibilities of having a family and are at the peak of health even after some questionable life choices when it comes to their diet and other everyday habits. That sense of reckless abandon when it comes to dealing with finances and health can make people shortsighted when preparing for their future. Young people these days tend to splurge on the latest gadgets, fashion, or on eating out (which is costlier than buying ingredients and prepping your own food) and seem deliberately oblivious of the risks to their finances when they make these purchases.