One great mistake that individuals can make is to delay on beginning an investment fund. This is most pertinent to young people who depend on their folks for monetary help. Mostly Millennials who are keeping up with the Y.O.L.O. attitude. Indeed, even the individuals who are as of now ready to take a shot along the edge do as such to have cash for particular spending needs instead of to have somewhat more cash to spare. We always hear people say that it is best to practice the “save before you spend” attitude. This can be practiced by students too. As soon as they get their allowance from their folks, they would already be able to set aside a little sum for their funds. Through time, the little amount they consistently spare will gather to a greater sum. This definitely take considerable measure of discipline to effectively pull off. These ought to be minor worries that ought to effortlessly be dismissed when the significance of setting up a reserve fund support is realized and achieved.
Little kids can start saving with spare coins. Older kids can already set up a bank savings account and practice saving up on a monthly basis. Cash gifts during birthdays and Christmas could be added to the savings as well. Disciplined savings should start at an early age until such time it turns into a habit…a good one in fact. I often hear my Mom when I was young saying that “Every cent is important as you will never have a hundred if you do not start with a peso.”
Financial needs today and in the future is something of certainty but its availability is not. Time is in favor for the Millennials, so while healthy and able, save for whatever financial need might come… NOW!