Our current financial state is the result of our past financial choices. [4 Images]
~ Friday, January 20, 2023 Blog Post ~
I’ve been getting lots of blog topics to opine about from this Facebook page called “Investment.” This social media page demonstrates mostly basic personal finance insights, yet I find some of the posts worthwhile and worthy of discussion here in my blog.
One of the Facebook posts I found today on Investment stated that our present financial status is the consequence of our past financial decisions. I 100 percent agree.
MONEY is a huge adult responsibility. Many adults I know today share their financial problems on their social media pages, grumbling that they cannot make ends meet with their monthly wages. I understand them and I comprehend from where they are coming.
I believe that if working adults prioritize FINANCIAL STABILITY by focusing on acquiring FINANCIAL LITERACY AND EDUCATION when they are just starting in the world of work, I think they will not struggle financially that much later in their lives, such as in their 30s, 40s, and so forth.
I understand the saying “Life starts at 40.” Well, at 40 years old, people generally have most of the common life responsibilities already such as having a family, career, finances, mortgage, car, loans, health issues, and many other life obligations requiring MONEY.
If people grumble because they are heavily in debt or broke today, I think it is best if they look back. They should contemplate what they did in their young working lives, especially asking themselves if they ever thought about prioritizing saving and investing their hard-earned money for the future.
Additionally, I recommend heavily indebted or broke people preach to their offspring or other young people they know that FINANCIAL LITERACY or FINANCIAL EDUCATION is undoubtedly important. In this manner, the youth they know will not grapple in their financial lives as working adults.
Let us not blame our parents. Financial literacy may come from one’s parents, especially if the latter are well-educated like my parents. Nonetheless, I know mothers and fathers who are unlucky enough not to have discovered nor understood the advantages of stashing and investing money for the future.
These types of parents typically see their children as their retirement plan, financially supporting them in their senior-citizen years. I understand that discussing money or personal finance was generally an uncomfortable subject for the older generations such as the Silent (people born from 1928 to 1945), Boomer (1946 to 1964), and Generation X (1966 to 1979).
If only the significance of FINANCIAL EDUCATION was already inculcated in the older generations, then perhaps there will be less financially illiterate and struggling people today.
