Financial Irresponsibility: Why Do We Equate This With Age?
There's no age to be financially savvy, but there's always the impression that it comes with a certain stage in age. Many African adages suggest that young people are meant to be foolish with money as it's a trait that's underlying, an attitude that's expected, and a lifestyle that shouldn't be unusual.
When young people make money, it is supposed that it's a normal thing for them to be wasteful, because it's assumed that this wastefulness is what will eventually teach them financial responsibility.
This means getting to learn from their experience and being poised with being responsible or irresponsible.
Money & Some Societal Perspective
A lot of young in places like Nigeria have fine-tuned their mindset to this societal norm, creating an avalanche of irresponsibility towards money and finance.
Nevertheless, I've seen no changes, a different adaptation, or improvisation to these proverbs to suggest that with time, age will only become nothing when it comes to understanding the onus of being financially savvy.
One of the reasons why this is so is, in Nigeria back then, you can be 29 and it's normal for you to be homeless, broke, and being fed and sustained by your parents, at 25 these days, the expectancy to be rich and independent is dominant and this is because of the influence of sophistication of this modern world.
The Importance Of Financial Consciousness
When I was 17, this was when I realized I didn't want to be poor, and this was because of being cognisant, being at the receiving end of lack and want, and being exposed to the limitations that came with it.
A lot of people underestimate the importance of financial consciousness, it's an aspect of personal finance that people hardly pay attention to, and what's the meaning? Financial consciousness means studying and understanding one's immediate economic and financial environment and tailoring one's life to counter some of the limitations that come with it.
For example, my father made poor judgements and calls he procrastinated so much that he lost some life-changing opportunities that could have bettered our lives, in most financial ramifications.
Being Learned: By Experience Or Institution?
The truth is, I understood this very well at a very tender age because most of these incapacitations had a direct influence on the growth we could have attained, hence, I decided to be different.
One's economic environment, society, background, and social class are filled with life lessons, so it'll be gross irresponsibility to choose not to be taught or schooled by these economic institutions.
A lot of people think they're poor and unexposed because they weren't intentionally taught in a college, but the truth, is we do not need to be confined to a formal institution, forced to be learned and tested for the possibility of excellence or failure. People see intentional failure as an option and this is why it's difficult to have the mentality that excellence is the only option.
Redefining The Aspect Of Learning
Sometimes, we do not need new experiences to learn, people who feel they need to go through their own experiences to learn, are the ones that eventually don't learn because we cannot create a spatial setting or a condition for learning and this is because people mostly make the mistake of thinking they have surplus time due to how young and vibrant they deem themselves to be.
Time is valuable because we cannot predetermine how much of it we have by judging our present conditioning, it is also (time) a value or opportunity that we differently have to make a statement or impact on our existence.
One of the reasons why people shouldn't choose to be financially irresponsible is because it creates a ripple effect, most times, our intuitiveness is what might give another person, maybe a relative a good chance to survive in life.
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There is a saying in my language that wise is the person who learns from the experiences of others. We are humans and we don't need to learn through trial and errors. If we were to learn this way, the whole life be wasteful. The time passes without stopping and we need to keep up our pace with it.
Sometimes the mindset is set on too much superficial aspect. Age do describe how many years we have spent in this world but the mere number of our age doesn't dictate how much knowledge, awareness, understanding and wisdom we have gathered. Some of us have the understanding of things at the age of 17 that a person failed to attain at the age 50.
Since always I wanted to earn something for me and not be dependent on any significant others. This thought of mine always kept me busy in search of a work and then whenever I earned (though small) I invested a portion of it in something beneficial. The thing is when you are in search of an opportunity, the opportunity finds you. Opportunities are always around us. There is a need of vision to see them and that can only be happened when you think that you are capable of doing something.
That's right, however I do not know if this is dependent on cultural differences or not but I do think that in my place, young people are allowed to be irresponsible simply because they're deemed to be young and that they'll learn with time, however I've come to understand that we can be learning from whatever age and time. People are allowed to be wasteful because they're young and some young people where I come from take this as a leverage..
I do think cultural differences matter. At my place we do not put too much responsibility on youngsters for finances but they are not allowed to be wasteful either. I am not sure if this has always been like this or it has just happened in this era.
Mmmmm. Varies from families to families though.
However, there is one thing that is taught to us subliminally throughout our lives and that is "listen and follow your elders because they are right". Funny, isn't it?
The current society kind of pushes people toward institutional education systems such as colleges. I agree that some of the people there don't really have a passion for it. I was not particularly invested in it, but I went to college because it was expected from my parents and relatives. Going through financial hardship, I wanted to learn about financial education and it has lead to what I am today.
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In reality, I'm not even faulting the system for this. The truth is that in some countries, institutional education is quite expensive and it doesn't even offer as much as conventional financial education. We just need to look at other knowledge that are relevant in life.
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