Starting financial planning with pocket money

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.

About Gospel Eadweardfilia

Gospel Eadweardfilia Is Passionate About Helping People In Financial Difficulties Get Better With Their Money. She Has Been Supporting People Since 2006 And Draws From Her Own Experiences With Finances. Now She Is On A Mission To Educate People Especially The Generation Z And Their Parents To Become Financially Savvy And Literate. This Is What She Says: "I Understand How It Feels To Wonder Where Your Money Goes Each Month And Wake Up In The Early Hours Of The Morning In Sweat Over Debts. Years Ago, I Was In Over £20K Student Loan Debt And Leading A Pay-Check To Pay-Check Lifestyle Yet Managing To Go Out To Restaurants, Travel Abroad, And Buy New Clothes. I Never Borrowed Money To Do All These Because I Would Work, Save, And Spend All The Money. I Was Too Scared To Get Into More Debt And My Student Loan Debt Was Huge Enough. I Would Come Back From Spending/Travelling And Feel Scared Of My Future Especially Each Time I Got My Student Loan Statement. I Felt Hopeless And Confused With No Direction Or Knowledge Of What To Do Or How To Get Out Of The Mess I Found Myself In. I Had No Plans For Retirement Or The Future. I Had Enough Of Watching My Debt Grow And The Sleepless Nights. I Started To Educate Myself On Finance; To Learn A Different Way Of Looking At Money. I Wanted To Know How To Gain A Professional Degree And Build Wealth Without Debt. I Became Debt Free After Seven Years Of Being Intentional On Becoming Debt Free By Using My THREE System Framework”. Today, Gospel Is A Certified Financial Coach, A Registered Pharmacist, And A Mental Health First Aider. Her Mission Is To Educate People In A Step By Step Innovative Manner To Be Financially Literate And Build Wealth To Make An Impact In The World. She Has Given Transformational Mentorship To Her Clients Through Workshops, Online Video Training, And One-To-One Consultation So They Improve Their Personal Lives And/Or Small businesses. “I Believe Many Young People Go Through Their Day Worried Sick About Their Financial Future. Daily Stress And Worries About Money Causes Mental Health Issues- Such As Anxiety, Depression And Even Suicidal Ideations. When Young People Have A Framework To Follow [To Grow Their Finances] They Are Hopeful For Their Future”. The Financial Framework Guides A Young Person On The Steps To Take To Grow Their Finances. It Inspires Them To Live Life And Plan For A Brighter Future. When Young People Have A Framework They Smile With Confidence And Hope For The Future. Gospel Lives In The UK Where She Enjoys Dancing Salsa, Taking Care Of Her Garden, And Investing In People, And In Herself. Take Time To Enjoy Today.

 

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