Today we are talking about money more specifically the top 5 mistakes young people make. one of the downside of growing up in working class, blue collar environment that you don't have white collar successful people around you that educate you at young age about money and business. I will be talking about 5 mistakes that we make in terms of MONEY.
1.CONFUSING NEED WITH WANTS.
I can imagine how difficult it is in today's world of social media but there is a big difference between need and want.identifying the difference is critical.I would spend money that i should have allocated to a need like food and shelter and i allocated it to something i wanted like a new pair of shoes.
2.Afraid OF HARD WORK.
The 2nd mistake that i see in young people these days in terms of money is not actually about money but how you get the money. They are afraid of work. They think work is the worst four letter word. here is the reality : If you want to achieve something, there is Nothing is guaranteed to you. you gotta work for it. you have to earn it.
3.NO SAVINGS.
Another thing i observed in people is that they don't save anything. They earn a dollar, They spend a dollar. In a lot of cases you earn a dollar and spend 2 or 3 dollars. Every dollar you earn. you should save at least 10 percent of it.
4.SHOPPING ON CREDIT CARD.
A lot of us make this mistake that we buy things on credit. They will pay letter for something they want right now. This is the most deadly trap people get into and I was guilty. I am not saying that credit is a bad thing but there are certain things which you should never use credit for which include things like clothing, food etc.
5.NO KNOWLEDGE ABOUT MONEY
The last thing and mistake i see in young people making when it comes to money is they don't educate themselves about it. Money, How it works , How to use it and How not to use it. Its an educational process. Seeking out finance knowledge, understanding what interest rate means and How it works.
I encourage you if There is somebody in your life who is successful or you think he might understand a thing or two about money, Reach out to them.
Seek out consultation. Its never too early to start saving money and investing it. I suggest investment in STEEM or any crypto coin which you think have the potential to earn you some profit.
THANKS for reading.
FOLLOW,UPVOTE and COMMENT.!
i should this rules for being rich.
yes well said and indeed i agree to everything you have mentioned and described above as hard work beats talent talking of saving there is also an other way to it spend less,we all have needs as well as wants the real deal is to not let the wants over power our basic needs we should learn to compromise and sacrifice for the greater good that yet has to come yes its tomorrow i am talking of