Personal Finance: The Man & The Economy 

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At every stage in life, there are different personal finance lessons that one must cultivate, a 15-year-old for example would be thinking of maximizing his pocket money, to get the best utility or value for money, while he might not really be exposed to a diverse level of personal finance decision-making, it's interesting to note that when people are financially responsible from a young age they tend to build different layers to how tough and vast they will become.

With each and every failure or success story with regard to the monetary decisions they have made and that has defined who they have become over the years. Financial responsibility is not actually a lesson to be taught, it's not a degree to be acquired, neither with years of economic applications nor even knowledge of monetary theories. In reality monetary theories might not be able to help one in real life.

Most of the concepts of economics a lot of people understand only functions as knowledge that can be consulted but not really dependent on to make real-time choices and decisions. Personal finance is formulated individually, and it stems from building a personality or attitude over a long period of time. Part of being responsible is being disciplined. A lot of people feel that being frugal is being responsible, but this isn't totally true.

It is important to understand that in life, spending purposefully should replace the onus of spending frugally. For example, when a person has a frugal mentality they don't see the extent or need to spend ostentatiously, especially if the need arises to actually do so. People in showbiz for example are ostentatious spenders, but that doesn't mean they're wasteful.

I once saw a video of Rick Ross displaying a collection of over shoes worth over a million dollars, and the ones who engaged called it vanity or wasteful. But the truth is, he owned a brand that made some of those shoes, and he is in showbiz, he wasn't made wealthy by singing alone, part of what earns him his income is displaying flamboyancy and exquisiteness either with clothing or a bling and his audience increases daily.

More like what you'll call living the showbiz life. While some would need to spend heavily to become even wealthier, others might not do that. Personal finance is diverse, it's about management and being frugal is only an aspect of financial responsibility which one may or may not even need to consider depending on their means, how they make these moneys and how they should spend it.


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Like I said, personal finance is a journey, it can be relative, but very distinct as well as unique and hence shouldn't be compared. Take a look at an adult of 32, his personal finance practices will be different and of course from a 65-year-old too. This means that every stage in one's life comes with a different set of financial priority and as people age, they become exposed, especially if they've begun this journey at a really young age.

Nevertheless, not everyone is inclined. Some other absolutely lives their lives having no clue whatsoever. For people to be financially responsible, they must firstly be exposed to a means and the freedom to actually decisions that pertains to these means. Having a job, earning an income, having a retirement or insurance plan, having choices and taking responsibility for making at least the right one on a daily basis.

This is to say that we feel inclined to be responsible because the future is worth preparing for. The major reasons for saving and having a savings is to prepare for the future and take care of unforeseen circumstances or emergencies. There's no limit to how people can choose to be responsible, and it's important to imbue it into young people for then to see it as a lifestyle.

The definition of a rotten society is having a group of individuals who wants to be rich quick but having no plans for these wealths other than to live large. This is why earning the right way makes people more conscious and alert. In other words one's financial responsibilities helps them maintain longevity and constancy in a world where currently are becoming hugely affected by many manipulated economies.



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My name is @Josediccus, a young Nigerian entrepreneur who is a Vlogger, A Psychologist, Poet, Sports Writer/Analyst & Personal Finance Coach. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers


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Yeah planning is always good and appropriate for a better tomorrow in other to save

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The example with shoes kind of reminds me what people are doing with Splinterlands. The card assets themselves are showing their value due to scarcity and utility. To someone who doesn't game though, the cards are worthless. In a way, I like the fact that I am building on top of some of games like Rising Star even if liquidity is an issue and I can see my growth in the earnings I get even if I don't sell the cards.

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Excellent! The way through which value is displayed varies. Splinterlands models is definitely out of this world and it's working relatively well. Keep building on those games, I generally believe that eventually it pays off overtime.

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You are right, the difference isn't about living in frugality. It is knowing our financial responsibilities, and working to build our wealth around them

If we start at a young age to understand this picture, it gets better as we grow old. With this, it's important that we who have finally learned what personal finance means should try to educate the young ones, so that they do not fall into the same financial pit holes as we did.

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Exactly, in addition, frugality is part of it, it's just that it's not everything. Financial responsibility stems from basically understanding oneself, their limits and how far they can go with their money or their finances generally. Thanks for dropping by.

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(Edited)

Exactly, in addition, frugality is part of it, it's just that it's not everything.

I am sorry, my keypad went crazy, I wanted to say this instead 👇👇

You are right, the difference isn't about living in frugality alone.

Financial responsibility stems from basically understanding oneself, their limits and how far they can go with their money or their finances generally.

I totally agree

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I am sorry, my keypad went crazy, I wanted to say this instead 👇👇

That is totally okay, I could deduce what you were trying to say, I actually didn't mean to sound rude whatsoever.

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I love this Post, it very informative, thanks for sharing.

For me, I have always been good with money, I don't judge people's spending habits but most of the time I spend only when necessary, that doesn't mean I don't spend on myself once in a while.

But I don't subscribe to blowing money unnecessarily when you don't really need what you're spending the money on, just to show off.

I go by this saying "if I want to buy something and I can't make the money to buy that thing, 2 time's over from my source of income" within 2 or 4month I don't get involved.

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