I failed some businesses, lost a lot of money, got into debt, went back to live with my parents. Should I start saving money? What should I do?

[Anonymous]

[Oliverlogan263]

Ah man, that really sucks about your businesses failing and getting into debt. I know how hard you must have worked on those ideas too. But yeah definitely go back to saving now - living with your parents will help a lot to pay things off faster.

A few tips - look through your expenses carefully and cut anything you don't really need to lower your costs. Even small stuff adds up. Get a side job too if you can, anything to bring in more cash. Maybe talk to your parents about a payment plan for paying them back if you borrowed money too.

Don't be too hard on yourself either. Most businesses take a few tries to get right, and not everyone succeeds the first time. Now you know a lot more than when you started at least. Once you pay off your debts, really take your time before jumping into anything new. Do lots of research first so the risks are lower. You'll bounce back from this for sure. Keep your head up!

[midnightmoon05]

You are young…learn from it and thank your parents for their support…

do again and win this time…

[Anonymous]

Clear the debt
Start saving
Get back on the horse