Growing up I’ve been lucky enough to live a really good Aussie life.
Mum, Dad, two little brothers, a Dalmatian dog named Stripes (I wish that was a joke) and a white picket fence. I received an above average education, studied overseas, taken many family holidays and have never gone without.
I’ve had it really good.
So you can imagine my shock and embarrassment when after thirteen years of schooling, four years of tertiary education and my abundance of worldly experiences, I was ill-equipped to handle my finances.
I can tell you about Pythagoras’ Thoerum, go into detail analyzing Euripedes Medea, and Peut parler un minimum français! (I took a little French in school, if I’m being honest it was just to go on the Year 10 trip to Paris.)
But up until recently, I couldn’t tell you how my bank accounts worked.
I couldn’t tell you what the interest rate was on my Credit Card, and I definitely couldn’t tell you why I thought it was OK to go into the bank and take out a loan to travel Europe for 4 months.
But don’t worry guys, I know how to solve for x using x + 9 = 18 + -2x …phew!
So when I returned from gulping my way through the beer halls in Germany and skiing the slopes in Switzerland, it was time to return home and face the music.
I was so ashamed to admit that after all the education my parents had provided me with and the privileges life had thrown in my direction, that I was in this position.
By a stroke a fate, I had applied for a job in admin support here at Income Solutions, and got it. I couldn’t help but laugh at the irony! Me, who can’t get her account out of the red working at this financial firm?
What has struck me over the last six months is how the key skills you need are so simple. They are based on common sense. Why is this not being taught to us at high school?
But it’s ok, I know HBr is Hydrogen Bromide… I’ll use that one day!
No matter your history or your circumstance, it’s important to make a decision to want to help yourself and do something about it.
Once you’ve made that decision, it’s about education and discipline.
Education isn’t just for the young, you need to keep educating yourself throughout life. Education in knowing where your money is going, where you’re being taxed or getting charged interest and what options are available to you.
Discipline in sticking to your plan, being able to say ‘not yet’ to those shoes you want, living within your means and not relying on credit.
If you would like to take the first step towards improving your financial situation, go to www.incomeoslutions.com.au/events and register for our First Steps to Financial Success seminar. Topics that are covered include Setting Goals, Managing your Cash Flow, Debt Management, and strategies for building and protecting wealth.
It’s free, no obligation and the purpose is to provide tips and education to people who want it.
What have you got to lose?
Celeste Smith – Marketing Coordinator
Please note: The advice in this article is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.