The journey to becoming an adult is a tedious process. First we had to deal with physical development, watching our bodies change and developing adaptive responses to those changes, coupled with all the emotional imbalances and the not-so-sweet process of self-discovery. We then began to get comfortable with who we were growing to become. Fast forward to a few years later, we are fresh out of teenage-hood and the reality slaps us on our faces; “WE ARE YOUNG ADULTS!!” aka welcome to the world of money issues!
This stage constitutes a formidable determining factor of what our futures would look like. At this point our needs are ever on the increase, and our funds, well, they never seem to be enough. Yes, yes, there’s the monthly allowance that mom and dad pumps into our bank accounts at the end of every month, but honestly though, just how much can that do? For an answer, not much. So in between constantly complaining that we are BROKE and blowing up our parent’s phones for additional funds, we slowly begin to open our minds to the gnawing reality “WE CAN’T DEPEND ON OUR PARENTS FOREVER”. For some of us, it takes us a while to get out of our comfort zones of free food, shelter, monthly allowances and other conveniences to the real world where we have to fend for ourselves and for others, it takes them less time. We begin to drive ourselves hard and find a way to at least provide some necessities for ourselves.
The funny thing about growing up into the world of money and finance is that for many of us, financial education was something we weren’t exposed to probably because our parents were too busy trying to make ends meet and provide a better life for us. Regardless of this financial illiteracy, there is an expectation on us to learn how to create a cash flow and manage our finances, whether our allowances or our salaries. Some of us may get really great allowances or even have good paying jobs but before the end of the month, we still manage to end up broke. We must understand that income doesn’t guarantee wealth. Yes, income is an important component of wealth but what surpasses it is great financial intelligence and management of funds. Without this, you would get broke over and over and over again regardless of how much comes in.
It is important that we do not solely depend on our parents for everything and to achieve that we need to think of ways we can make money for ourselves. For those of us that are still thinking of ways to bring our own money in, we can start our journeys to financial independence by having a scale of preference which will enable us cut down on frivolous spending, and also by imbibing the culture of saving. SAVE, SAVE, SAVE! DON’T LIVE ON A RED ACCOUNT, DON’T GET STRANDED! Yes i know that we live in a world where entrepreneurship is preached on a daily basis and the ideology of letting your money work for you has never sounded so compelling but stop for a minute and think about it. If you lack the fundamental constraint of dealing with money intelligently, you will also be broke irrespective of your multiple sources of income or how thriving your business is. So, while we are all riding this wave of generating larger incomes, let us take deliberate steps to sew the holes in our pocket by being more mindful about where our money goes. Remember, a healthy relationship with money is the key to always having it around. Just like your ex, money hates toxic relationships!
Folks, if by this time, you still do not know that you are required to be financially independent, then hold on for a bit, your parents will soon educate you on that, directly or indirectly. We all need to get up and get out of our comfort zones and face the reality of life. It’s time to GET YOUR MONEY RIGHT!
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