The thought of saving for the future can be daunting, especially as a young adult. The importance of saving and investing your money is often lost on the youth as they get caught up in getting their life on track and trying to find their place in the world. 

The thing is the financial habits we pick up when we are younger can be hard to break and can become detrimental to your financial independence in the future.  The best time to start saving was yesterday and its important to realise that the earlier you start saving the greater the rewards will be down the line. 

One major barrier most people have when it comes to saving and investing is that, at face value it seems complicated with all the different jargon and figures being thrown at you.  Saving and investing isn’t just about putting away some of your money for a future emergency or to gain value over time.

Saving can be as simple as creating a budget for yourself and ensuring that you’re being financially responsible.  We invest in things all the time, whether it be investing our time to learn a new skill or form a new relationship.  Investing financially follows the same concepts, you need to decide whether the risks and costs will be worth the reward.

With regards to investing, I used to look at investing as a tool to generate wealth, but over the course of my exposure to investments, I’ve changed my perspective.  Investing your money is a way to preserve your wealth.  The most important thing though is to start early and build on your knowledge.

Do not become discouraged when it comes to your lack of knowledge with regards to saving and investing, everybody was once in the same position as you, but if you’re able to identify the lack of knowledge and have the desire to learn, you will become financially knowledgeable.

The best advice I can give to the youth of South Africa is, start saving early, have a willingness to learn and don’t doubt yourself.  You can and will become financially sound if you’re willing to invest in your future.