The importance of raising a ‘money saver’ generation

Learning how to save, budget and take accountability for their debt are masteries that the youth should incorporate and learn early in life.

The concept of money is a fundamental skill that any adult, parent, guardian, family member or teacher can help teach and offer our young ones.It’s really important to prepare from a young age to make sure that our youth, when they reach early adulthood, that they can work with money, they know there are consequences when it comes to money and that they make financially sound decisions with their own and household finances.

Carla Oberholzer, debt advisor at DebtSafe Oberholzer says budgeting is a must for the 18-34 age cohort, adding that they should start slowly. It’s important to sit around the table with family members to make sure that that monthly budget will work for you and your household and not ‘keep up with the Jones’s’ or see what your neighbours are doing.

Source: News Formal (newsformal.com)

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