Why Most Stay Broke In Their 20s (And How I Escaped the Trap)

I remember sitting in my university hall of residence, feeling utterly lost. At 21, I was broke and confused, and the constant “follow your passion” advice from everyone around me felt hollow.

The truth is that playing it safe and waiting for permission from a guru or a warm lecture hall won't teach you how to build the life you want.

I'm Deric Yee, founder, builder and self-made entrepreneur. I bootstrapped tech companies from scratch to generate $80K a month without any outside funding, and I’m now delving into AI.

But five years ago? I was exactly where you are now: unsure which way to turn, hungry for success and tired of listening to the wrong people.

By the end of this blog, you’ll have a simple, no-nonsense roadmap to help you stop wasting the best years of your life and start building something real.

University Is Not the Default

The first trap is believing that college is the only path. I went to a good university, graduated and got my diploma, but I still felt miles behind my peers.

While I was busy learning theory and networking in stuffy clubs, other students were setting up businesses, working on real projects and learning from failure.

Earning a degree felt productive, but in reality, I was merely delaying adulthood.

If you don't have a clear career goal that requires a degree, don't waste four years chasing a piece of paper.

You’ll accumulate debt, waste time, and convince yourself that you’re 'learning' when you're actually doing nothing that matters.

While I was at university, I sold calculators on the side for a small profit. The $200 I made felt more valuable than any A on my transcript.

The takeaway? If you’re unsure what you want, start doing something — anything — today. Build, code, sell, write. Fail fast. Real experience trumps any classroom theory.

Stop Wasting Time Pretending to Be “The Man”

The next trap is treating your life like a game of dress-up. In my early 20s, I spent countless hours chasing girls, likes, and status symbols.

I remember spending entire weekends texting and arranging dates just to feel important — time that I could have spent learning a skill or completing a project.

One day, I realised: do I want to look rich, or actually be rich?

That realisation changed everything. I stopped trying to impress others and started focusing on becoming genuinely useful.

Rather than taking photos with a rented sports car, I poured that energy into my side hustle.

I swapped pretentious Instagram bragging for messy coding sessions and late-night brainstorming. Build first. Flex later.

True success isn't defined by your follower count or the brand of your watch — it's defined by what you've built.

Reading Isn’t Working

Here’s a controversial truth: reading yet another self-help or success book probably won't solve your problems.

I’ve read hundreds of them, and each one initially seemed productive, full of bright ideas.

But looking back, I realise that most of that reading was just procrastination in disguise. You could quote Rich Dad Poor Dad five times and still be broke – it's not the book's fault; it's yours.

Think of reading as a pre-workout routine at the gym. It gets you excited and motivated, but if you never actually lift any weights, you’ll never get stronger.

For years, I collected a library of advice and never applied it. Then I changed course: I wrote my first blog post, recorded a shaky YouTube video and created my first ugly app.

I learned that confidence comes from competence, and that competence only comes from doing. So stop reading five more books. Start building something today!

Fail Faster Than Everyone Else

At 21, I learnt another hard lesson through failure. I started a business without a plan and burned through £10,000 in three months. It hurt badly.

But that brutal failure taught me more than a college degree ever could. Each setback made me more resilient, and resilience became my strength.

Some people study entrepreneurship for five years. I ran my business into the ground in just a few months. Who do you think learnt faster?

Every stumble forced me to adapt immediately. If you fail in the real world, you learn and adapt. But if you only fail on paper or in theory, it's just a story you tell yourself in class.

So here’s some brutal advice: fail fast, fail forward. Make a mistake, analyse what went wrong, then try something else. Just don't fail to learn from it.

Your Environment Is Everything

Let's talk about people. You become the average of the people around you. I’ve seen friends and even loved ones become complacent, and it almost pulled me down with them.

I ended relationships — even some that I really cared about — because they lacked ambition.

If your best friend is glued to the sofa and your mentor hasn't started anything new in years, guess what? They'll tell you to "chill" when you should be grinding.

It's harsh but true: your energy is your currency — spend it wisely! You don’t have to ghost everyone. Just protect your time and your goals as if they were a temple.

Use evenings with friends to brainstorm a side project rather than binge-watching Netflix. Your environment should inspire you, not put you to sleep.

Surround yourself with people who build and break things. Take inspiration from people who are already a year ahead of where you want to be.

The Harsh Truth About Procrastination

Deep down, it's not that you're unmotivated — it's that you're comfortable. If you can scroll through Instagram for hours but can’t find 30 minutes to learn a new skill, then you’re prioritising comfort over success.

Here’s something I had to hear: If you want to stay broke, keep making excuses. No one is going to push you: not me, not some overnight success story, and certainly not your parents. You have to save yourself.

Stop negotiating with your feelings. Discipline means doing what you should do, even when you don't feel like it. I used to tell myself I’d start tomorrow.

Tomorrow turned into next month, then next year. The day I decided that my goals mattered more than my excuses was the day things changed.

So wake up! Show up. Do the work, especially on days when you'd rather be doing anything else.

Want More? Earn It

Finally, let's be honest: the world doesn't owe you anything. I’m no better than you; I just got fed up a bit sooner. Instead of asking 'What should I do with my life?'

I started asking 'What can I build right now?'. I didn’t wait for permission or clarity. I set up Sigma School and Jobier, and now I’m delving into AI with Northstack — not because I had a perfect plan, but because I took imperfect action anyway.

That’s the real game: action over analysis. Stop dreaming about tomorrow and start creating today. Don't wait for inspiration or the 'right moment'. If you want more, earn it with every breath you take.

The Only Way Out Is Through

If you’re 21 and feeling lost, that’s a good thing. Use that restlessness as your fuel. Turn that tension into action.

Create something imperfect, fail on purpose, learn quickly and adapt. The world isn’t waiting for you to feel ready – it rewards people who take action. Perfection is a myth — progress is real.

So here it is, blunt and simple: decide to take action today. Any doubt or discomfort you experience is simply a sign that you’re on the right path.

Keep moving, keep building and stop pretending you have time to waste. The future you want is earned one hard lesson at a time.