Unfortunately, most parents take their children’s fantasies and ideas lightly, destroying the buds of talent and abilities. How many geniuses were killed only by the phrase “don't talk nonsense” and something like that! But very often children think completely different from their parents. As a result, the same adults grow up who repeat the same mistakes. There are many examples: a passion for unnecessary things and rash purchases, inability to accumulate a certain amount and exposure to fashion trends.
But all this can be avoided if you learn to initially see problems and avoid them. It’s time for financial literacy to help you avoid the same mistakes your parents once made.
Start talking about money
In many families, it is not customary to talk about finance and economics. And completely in vain. If parents do not talk about their financial mistakes, this does not mean that they are not. It is important to study this problem in detail so as not to do the same. If it is difficult for your parents to give real numbers, admit their mistakes, analyze. Look at the financial situation of your family through the eyes of an outsider. Are there things that your parents spend too much money on? Often, the desire of adults to look no worse than others leads to meaningless spending. Your parents are looking for a second and third job for what? To make another repair in the house? Or buy a car? But is all this really necessary? Maybe you should stop and start living within your means, without thinking about what others will say. Do your parents think about old age in your family? But they must take care of the time when they can no longer work at any job.
Clarify your expectations and values
Our financial well-being is largely determined by pop culture and imposed values. You can live on $ 150 per month. But how to buy a new phone? How to buy a fashionable toy for his son? If you do not pay attention to other people and advertising, you can calmly save money without wasting it. Most likely your parents did the same. They wanted a better car, not because it was already out of order, but because it was not so new anymore, but the neighbor had the latest model. Instead of following their example, create your plan of savings and achievement of the goal. Think about what you need only YOU, not a neighbor or friend.
Living within our means
This issue is probably discussed in every family. But it’s not so simple to apply it in real life. Again, the blame is on advertising and the imposed opinion of society. It is difficult to resist stocks and sales. And only at home, looking at the check, you understand that you do not need three packages of washing powder of 9 kg each right now. The ability to live within our means needs to be learned. Each time, planning to buy something unnecessary, you need to ask yourself several times: why do I put this in my basket?
Pay yourself first
If you do not plan to buy a house or open a business, think about another area of financial investment. You can easily invest in your own future. Open a deposit in the bank and save for retirement. It's okay that you're only 20 years old. Pension will sooner or later overtake you. In the end, having a financial airbag gives confidence in the future.
Get an education
Even if you have already graduated from two higher educational institutions with an economic bias, do not stop studying and reading.Today, in the rapid flow of information it is so easy to hesitate and stay behind. Follow popular bloggers, read specialized literature, attend trainings and take lessons from successful people who have achieved financial prosperity and independence. Self-education is never superfluous.