Who teaches you how to manage your money?
When children get pocket money, they usually know what they want to spend it on and use it all up. Only a few might save, but for many, it’s gone very quickly!
Later on, when they start a job and are earning, they are out and about having fun. Often they find themselves waiting until the next payday to do it all over again!
Many young people don’t think too far ahead into the future when it comes to their finances. Some would say that’s the privilege of being young, to live in the moment.
Gospel Eadweardfilia -The Financial Fixer is on a mission to inspire one million under 25-year-olds and their parents to be financially savvy and clued up ready to face their future.
She says: “You can never start too early with financial learning. The more young people know about finance, the more chances they have of saving for what they want. They start living within their means and avoiding debt.
In my course, I share how young people can make good use of their pocket money if they are teenagers or earning their first salary. I use a simple, 5-step process that includes saving, clearing the debt, and investing.”
Gospel not only runs courses for the young people, she also involves their parents, to mentor and guide them.
Gospel’s 5 steps for young people to manage their finances:
Step 1: Save up £500 as soon as you can; this is the start of your emergency fund
Step 2: Clear any debt
Step 3: Save for your car, bike, etc
Step 4: Save for education – university, college, classes, courses, or training
Step 5: Build wealth – start putting money towards the future, even retirement
Gospel is keen to work with the Best You readers. She is keen to support those overwhelmed about their finances, including business startups. They learn how to manage their money and are up-to-date on financial facts relating to personal and business.
Contact Gospel about her finance workshops for young people and those with startups. She has an exclusive discount for The Best You readers.
- The Forgotten category in your financial plan - September 24, 2021
- Starting financial planning with pocket money - September 24, 2021
- Activate your financial growth: 5 steps to get your financial life unstuck - September 24, 2021