You know those voices that say we should own a home by 30, take elaborate Instagrammable vacations or buy every round of drinks when we’re out with friends? Ignore them, Singletary advises. Young people should enjoy their money, but not to the point of accumulating debt and financial strife.
“Every time we wish we were in somebody else’s life,” Singletary cautioned, remember “we don’t know what’s going on behind closed doors.” She urges young people to appreciate what they have. “If you went through college, a lot of people never get to college. If you had a job, a lot of people don’t have a job. If you were in an industry where you’re doing a job that you want to do, this is what you wanted to do. You know, all of those are blessings. And you know that phrase, ‘Count your blessings.’ Sounds so trite. But I might tell you, when it comes to your money, if you do that, … you will have more money and more peace.”
And the next time you’re feeling inadequate because “they” said you should be at a particular milestone, such as owning a home, think about whether the voice is coming from a person or institution trying to sell you something — or that otherwise has a stake in the transaction.
“That’s where it becomes important to know to find unbiased sources for your financial information,” Singletary said. “Those are the sources that you should be seeking out.”
