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Ever thought about money management and doing the whole budgeting and savings thing? Or is this something that sounds way too adult? Either way, getting a grip on how to handle your moola is one of the coolest life lessons you can learn.
Knowing how to manage your money is all part of growing up. Yawn. Okay, chill – this is not going to be a lecture on becoming an adult. This is, however, about getting some financial sense. It might sound boring now and you probably want to leave this up to your parents but being financially savvy puts you ahead of the pack.
It doesn’t matter how much money you got in your bank or back pocket, knowing how to have control over it will be a huge credit to you. It’s a skill that will always have value. Great, so where can you get yourself some of this money knowledge? You probably guessed the answer but here it is anyway: right here. No big surprise there. Moving on: the director of Crue Invest, Craig Torr, has a wealth of knowledge and is generous in sharing it. This information is super simple but really useful.
Figure out your Finances
First things first, Craig has some pieces of advice when it comes to putting money in its place and giving your parentals a break. Warning: this is real talk.
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Don’t Love Money
“Do not confuse money and love. The one is finite, the other is not. Your parents want to love you with their hearts and not their wallets. No material possession will ever outlast the unconditional love of a parent.”
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Work Hard
“Until you have traded hard work for a pay cheque, you will never truly understand the value of money. Working hard for your own money and achieving financial independence is one of the most self-empowering and fulfilling things you can do.”
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Be Sensitive
“All parents want is their children to be happy and most parents feel guilty when they are unable to buy their children the things they want. Sometimes this guilt is expressed as anger although it’s normally anger at their own financial situation and not at you. Learn to be sensitive to other people’s financial situations, including that of your parents.”
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The ‘No’ Factor
“Sometimes parents say ‘no’ to a request because they simply can’t afford it. Other times saying ‘no’ is actually an act of love that is designed to teach you both the art of delayed gratification and respect for money earned by others.”
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Be Kind
“Kindness costs nothing and has a higher rate of return than any other investment. An iPhone 7 will not make you a cool kid, nor will the latest Supergra’s. There is no easier route to becoming popular and well-liked than by being a nice human being. The race to keep up with the Jones’s is unwinnable. There will always be people with more money, bigger houses and fancier cars than you. Competition for newer, bigger, better and faster will keep you imprisoned on a hamster-wheel of never enough. While you are trapped on this hamster wheel, you deny yourself the opportunity to walk your own path of success.”
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Aim High
“Be ambitious. Aim for something higher than money. You will be far more admired and respected for your education, knowledge and work ethic than your branded stuff.”
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Think Long Term
“As soon as you can, learn how to tell the difference between what you want now and what you want most. Every purchase you make today is a loan against something you might have had in the future. Delayed gratification forms the foundation of your entire financial future.”
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Don’t Do Debt
“Debt is the easiest pit to fall into and the hardest place to escape. One of the most powerful gifts money can buy is control over your own time. Debt robs you of this freedom. Before buying anything on credit, make absolutely sure you know what you are trading your future freedom for.”
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Pursue your Passion
“You can most definitely make money doing what you love. Follow your passion.”[/vc_column_text][vc_cta h2=”Apply online for funding” h2_font_container=”font_size:16|color:%233eb87f|line_height:1″ h2_use_theme_fonts=”yes” h4=”Join thousands of students finding bursaries, scholarships & student loans on EduFunding.co.za” h4_font_container=”font_size:12|color:%235b5b5b|line_height:1″ h4_use_theme_fonts=”yes” el_width=”md” add_button=”right” btn_title=”GO TO EDUFUNDING” btn_style=”custom” btn_custom_background=”#323b4b” btn_custom_text=”#2eb87f” btn_align=”right” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_link=”url:https%3A%2F%2Fedufunding.co.za||target:%20_blank|” css=”.vc_custom_1528806816593{border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 14px !important;padding-bottom: 10px !important;background-color: #ffffff !important;border-left-color: #3eb87f !important;border-right-color: #3eb87f !important;border-top-color: #3eb87f !important;border-bottom-color: #3eb87f !important;}”][/vc_cta][vc_column_text]
The Tip Jar
With that advice in mind, here are some tips on getting your finances under control:
1. Money is not your God
Avoid worship in the temple of money. Although you will encounter many fellow-worshipers, their prayers will go unanswered and their souls will be rudderless. This is deep, yo, but it’s the truth, served straight up.
2. Be a Custodian of your own Wealth
Sounds fancy but basically this just means that money’s real power lies in the hands of its guardian. That’s you. As guardians of your wealth, you hold the power to use your money either to perpetrate evil or to do abundant good. The choice is yours: villain or hero. Learn how to harness the potential of money to uplift and heal our world.
3. Don’t get Emotional
Your emotional well-being shouldn’t be attached to your financial successes or failures. As humans, our moods ebb and flow. As legit as your emotions may be, make sure the touchstone for your mood changes is not money. Happiness shouldn’t be directly related to wealth.
4. Write your own Financial Story
You would like to be financially secure forever, but you will make your own financial mistakes. That’s okay – making mistakes is the best way to learn. Your parents will be there to guide and mentor you but it’s not really fair for them to risk their retirement funding to fix your financial fiascos. Adult-ing means ownership.
5. Follow your Passions
Find and follow your passion and then build a career out of it. When you use your skill and natural genius doing what you genuinely love, your energy will be inexhaustible. This will become contagious, and making money will be a by-product of living your dream. Work is love made visible. Hash tag life goals!
6. Your Legacy does not need to Include Money
Don’t be robbed of the freedom to map your own futures by relying on financial legacies that often come at a price. Ain’t nobody got time for that.
7. You were Born to Work
We are all born with a unique set of skills and talents. We are also born to work, produce, contribute and accomplish wonderful things with our gifts. Finding a ‘rich husband’ and ‘marrying for money’ is for Cinderella only. Your career is as important as your partner’s. Your self-worth is wrapped up in your ability to contribute to society in a positive and meaningful way. Feed your self-worth.
8. Give
In a world dominated by wants, needs and have-to-haves, giving freely is challenging. There’s more joy in the act of giving than from the state of receiving. Sounds weird but giving totally rules. As Anne Frank wrote, “No one has ever become poor from giving”.
FundiConnect 2Cents
So many things change when you step into the adult hood. Life suddenly gets real and money is not as easy to come by. So getting some practical tips and advice on life with money is a pretty cool way of prepping for the future.[/vc_column_text][/vc_column][/vc_row]
