Hearing the word Gen Z, of course, is already familiar to the ear, right? That’s right, the human generation born between the years until this year is known as the generation whose life has been attached to the ever-increasing development of the times.
Therefore, being Gen Z certainly has many challenges. One of them is about financial knowledge that should be learned from a young age. Of course, this is so that anyone can be better prepared even in the face of a bad situation. So, how important is it for Gen Z to be financially literate? Come on, see the following review!
1. Prices of goods and services are increasing every time
graphic illustration (pexels.com/Burak Kebapci)Without you knowing it, price growth occurs in almost all goods and services in this world. Inevitably, the development of technological sophistication that continues to require research costs that are not small has forced prices to be increased. Not to mention the issue of production costs such as agricultural and plantation goods, which require expensive human labor.
Realizing this, Gen Z should understand very well that almost all goods and services will increase in price every day. Therefore, it is also for this reason that Gen Z should be financially literate from the start. Of course, this is useful so that Gen Z can manage finances easily and avoid being wasteful.
2. No one can guarantee the future
illustration of a woman (pexels.com/Andrea Piacquadio)At every step that continues to face various events, of course we understand that nothing can guarantee our survival. Especially about the future which we cannot predict for certain, therefore preparing everything is the key.
Since nothing can guarantee the future, there are various ways it is important to know. One of them is about managing finances from an early age. If you are used to managing all your income and expenses, you will certainly feel more ‘ready’ to face anything tomorrow.
Also Read: 7 Instagram Accounts That Make Financial Literacy, Follow!
3. Finding money is not easy
Continue reading the article below
Editor’s picks
illustration working hard (pexels.com/Chevanon Photography)Generation Z has always been synonymous with spending on line which is easier to do. Various promo offers and cashback it’s tempting, isn’t it? The money we have will be drained more easily regardless of how much urgent the item to be owned.
Therefore, by starting to be financially literate at a young age, you can actually understand that money should not be wasted. An effective allocation method is needed so that your spending activities are in line with your income and for later savings.
4. Be better prepared for any event
illustration of someone ready (pexels.com/Allan Mas)Before fighting, it’s a good idea to prepare everything, right? That’s what happens, if you are at a young age and are financially literate, you will automatically begin to be moved to immediately determine various preparations for a safe and dreamy future.
If at an early age you understand, you can start to do effective financial management. Separate income and expenses, for alms, investment or savings. Guaranteed this way you feel better prepared for anything.
5. To be wise in spending money
illustration of spending money (pexels.com/Karolina Grabowska)The last point will relate to the previous point, which is number 3. Knowing that the process of finding money coffers is not easy and since childhood we have been financially literate, of course our brain will give a signal at any time when we are going to spend our money.
Can we be reminded again, how important is the item to be used? If it’s not really important, then hold on to the lust. It’s better if the more money you have is allocated for savings or investment costs. With wise steps like this, you have contributed greatly to preparations for a brighter future.
Talking about financial matters, of course, always presents challenges and opportunities that must be considered properly. However, if at a young age you are financially literate, you can be sure that you will also be brought into situations that are more careful in using money.
Also Read: 5 Reasons You Must Be Financially Literate From a Young Age, Anti-Waste!
IDN Times Community is a medium that provides a platform for writing. All written works are the sole responsibility of the author.