Separate wants from needs – I don’t usually assume that everyone can readily see the difference between what they want and what they need. Wrong assumption leads to misinformed judgment and that can be very disastrous but before it becomes that bad why not sit down with two blank sheets of paper. Make one list for necessary items such as clothes, shoes, lunch, school supplies and medicine, and another list for items youy want, like jewelry, trendy fashions, games and electronics. This exercise would enable you to readily see the difference between what you want and what need. Compare the lists and talk through the differences (with your friends or even parents). You need to identify the fact that you can’t go to school without food, shoes…, but you can go without an iPad or that particular wrist watch.
Say “no” and mean it. Kids figure out at a very young age whether mum or dad changes their mind if they whine enough. Often, they learn if they keep begging, parents will give in. However, many of our parents stick to their “NO” not because they don’t like us but because they really want us to be taught and brought up properly. I would like you to play role of the parent that says “NO” when next you find yourself in such a situations. Your mind would play games with you but you MUST stick to your guns and say NO to the unnecessary.
Practice patience. I’m sure you must have heard this phrase before ‘delayed gratification’. In a time where everyone wants things faster and easier, patience can be a difficult lesson but it’s one that will serve us well for our entire lifetimes. My advice on this is that you should create a “save-for” list at home/school where you can write down a few things you’re saving for or waiting to get, and stick it on your bedroom wall. Patience takes planning.
Earn it. There is this joy and pride in owing something you worked for. I also believe that you manage what you earn well than what is given to you. So if you are certain you “must have” that certain thing, ensure you earn the money to buy it. Putting in some effort to acquire something makes the purchase more satisfying. There are a few ways to do this, take up extra paid labour and monitor yourself by creating a progress chart so you can watch your incremental labour move you closer to your desired goal.
Save now, spend later. There is a saying that goes like “we need to save it for the rainy day”. If we are constantly spending all we have, or trying to spend all you have, nothing will be left when the unexpected — good or bad — arrives.
Each time you receive money, I encourage you to divide it into three “S” piles: spend, save and share. There is no certainty that comes with what rainy days will bring and happy opportunities that you don’t anticipate. Spend some time considering others with less privilege and how you might help.
