Starting from the basics

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In your budgeting and spending, you should concentrate first of all on satisfying your needs, then planning for the future, and then you spend on your current wants. Otherwise, forget about building wealth or even just financial sustainability. 

What is a need then? You can make use of Maslow’s hierarchy of needs to get a clearer picture. Basic needs, such as safety and physiological, are the ones you should really treat as a priority. Needs are the essentials you need for survival – food, clothing, warmth, shelter, sleep. Without having your needs satisfied you risk dying from starvation, exhaustion or cold. 


What if all of these are covered by your parents? Does it mean you can freely spend your pocket money on whatever you feel like? Of course you can! But if you took this course, it means you have something bigger in mind!

You could instead invest in a course, a training or even books to get yourself better prepared for a future career. And even though you may have higher education (or are getting one), education systems nowadays never fully satisfy the needs of the employers. There are always skills you won’t get in a traditional uni, that your future employer expects you to have. Spending money to get these qualifications is one of the best investments!