5 Things to Get Done Before 18

With most of us reaching the big 18 in a couple of years, here's a list of mindsets and attitudes I find to be of integral foundation to our lives and how we live it in the future - financial flavour added, of course.

1. Have a positive attitude towards money

Understand the ins and outs of money and how it can work for you.

When it comes to money, having a positive attitude towards it is of paramount importance. Negative attitudes towards money will only drive it away.

Don't see money as an entity that brings worries and worries only.

What helps is understanding early on that the goal with money is for you to control it, and not for it to control you (and your spending decisions).

2. Distinguish between assets and liabilities

Assets are entities you own that yields increasing value over time. Liabilities are entities that depreciates in value over time. There's a big difference between them yet many still find themselves within the gray zone of categorization for many items they have on their wishlist.

Devices such as phones, tablets etc. are consumption devices and as such will only depreciate in value in the long term - you're not gaining any monetary value from them in the long run!

Start to value assets more than liabilities and distinguish between them. One brings value, one depletes it.

3. Think long term

Self explanatory, but plan for the long run, not the immediate.

Got your first paycheck? Look into savings/investment accounts instead of buying any consumptive goods.

Distinguish between purchases that might yield more value in the long term e.g. pursuing education, instead of purchases that might give instant gratification, but long term regret.

4. Try everything you possibly can

While we still have the flexibility of youth, let's take up whatever it offers at max capacity! Try out everything you've ever wanted to (while being conscious of the cost of these experiences), and experiment with your interests! Enjoy biking? Take your bike to the highest hill possible! Try different biking tricks! Make a vlog out of it! You get the drift.

Explore your possibilities before the chance to try them expires.

While we still are free from the reigns of responsibility adulthood inevitably holds, make good use of it.

5. Don't worry about money, worry about passion

When it comes to careers or activities that will take up a majority of your time, don't make the decisions to take up those activities due to its monetary reward.

Focus on pursuing interests that are rewarding and fulfilling for you. Find activities you enjoy doing and those of which you wouldn't mind challenging yourself to the highest degree, even if it takes blood, sweat and tears - plus a lot of time on your part!

You could also think about what creates value i.e. makes people's lives easier and work on that too.

Don't worry about money, worry about where your passion lies; don't pursue money, pursue where your passion lies. Chances are, money will follow suit.

Writer's note: Welcome to the #2 short article of many weekly/bi-weekly # issues to come where I share stuff I've found of value over the week! Look forward to it! Subscribe to get notified for future new posts.

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