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Money: Shaping Upbringing and Future


Money has always been a crucial factor in shaping people's upbringing and future. From a young age, our parents teach us the value of money, how to save it, and how to spend it wisely. However, our financial journey does not end with our upbringing. It is a lifelong process that affects almost every aspect of our lives.


How does upbringing shape a child's view on money?

While some families are fortunate enough to not have to worry about money, many parents have to worry about where their next meal will come from or if they can get their children a birthday present. These questions shapes how a child values money and what they appreciate where the well off child may not appreciate the value of money, the poorer child would appreciate the smaller things more. While money is essential in everyday life, it is important for parent to teach their children that money isn't everything and that the work they choose should not just be based on money, but on what they are passionate about.


While there is a stigma around conversations about money it is important for parents to be open to their children about their financial situation and it is good for parents to still speak to their children openly about money. If a child cannot understand the value of money and becomes careless with it it can heavily affect decisions later in life. For example, if a child grows up in a family where money is scarce, they may develop a frugal attitude towards money. They may learn to save and prioritize needs over wants. In contrast, if a child grows up in a family where money is abundant, they may develop a more spendthrift attitude towards money. They may learn to prioritize wants over needs and have less concern about saving. Furthermore, parents' financial behaviour can affect children's attitude towards money. If parents argue or stress over money, their children may develop a negative association with money. On the other hand, if parents manage their finances well and involve their children in financial discussions, their children may develop a positive view of money and financial management.


To empower change around money, we need to start encouraging people to pursue careers they are passionate about. We need to change the narrative around success and focus on fulfilling careers that align with our values. We should also advocate for fair pay and better working conditions to ensure that everyone has the opportunity to pursue their dream career while being compensated fairly for the contribution to society.


Education and employment

One of the most significant ways money shapes our future is through education. Education is an essential factor in determining our future earning potential. The more educated we are, the more likely we are to secure high-paying jobs, and the higher our earning potential becomes. However, not everyone has access to quality education due to financial constraints.


The cost of education has skyrocketed in recent years, and not everyone can afford it. Student loans have become a norm, and most students graduate with a significant amount of debt, which limits their options after graduation. This situation is not only unfair but also restricts the economic mobility of individuals. Despite many students going to uni, many still struggle to find employment in there related fields due to the huge demand for jobs and the competition from other graduates. But are degrees Necessary to generate wealth?


One way to address this issue is through financial education. Financial literacy is an essential life skill that should be taught in schools. The lack of financial education has dire consequences, especially for low-income families. Students who receive financial education are more likely to make informed financial decisions, avoid debt, and save for their future.


Another way money shapes our future is through our spending habits. Our spending habits are influenced by our upbringing, our environment, and our values. Some people spend money to keep up with their peers, while others spend money to achieve a certain lifestyle. However, excessive spending can lead to financial troubles, debt, and a lack of financial stability.


Free education


Over recent years the idea that you have to go to university and get a degree and then work until your 70 to retire has been change with many young people learning new, high demand skills which can be learned from home for free using websites and youtube. For example coding is a very valuable skill that is needed in business now, whether it is as simple as making a website page or creating games.


YouTube has helped people develop financial skills by providing a platform for a vast amount of educational and instructional content related to personal finance, investing, and entrepreneurship. Channels and creators on YouTube offer a wide range of financial advice, including budgeting, saving, debt management, investing, and starting a business. This accessible and free information has enabled people to learn and improve their financial knowledge and skills. Additionally, YouTube's algorithm allows for personalized content recommendations, making it easier for viewers to discover new financial education resources.


Another growing skill people are increasingly learning is how to invest. Again many of these skills can be learnt and practiced online for free with no risk with practice accounts. These free website are teaching people not only how to increase their wealth but also to be financially independent and showing how you don't have to go to university to be successful and build wealth.


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