Daily Money Minute

Fotolia_54867638_XS_7“Young people need to develop a sense of being responsible with money.” ~Joseph Crosby

Young people are often driven by fashion. They feel the need to fit in with their peer group, so they feel the need to dress like their peer group. However the fashion industry exists ultimately to drive the sales of new clothes. It is an essential part of the clothing industry. It encourages people to buy new clothes constantly, despite the fact that they may have plenty of very good and serviceable clothes in their wardrobe already. Fashion says, “Oh, you can’t wear that anymore, it’s so last year.” And so young people are encouraged to spend their money on things they don’t really need. Next time you’re thinking of buying the latest fashion item, ask yourself this question, “Should I part with my money and make someone else rich or should I start being more responsible with my money and then I could start building wealth for myself.” Line the pockets of other people with your money and you will always be poor. Start taking care of your money and building your own wealth and one day you could be rich. People looking back at photographs taken during their youth usually cringe at the fashions they wore. Dear young reader; do you look back at the fashions your parents wore and think to yourself, “Hey, don’t they look cool?” I rest my case. Don’t be a fashion victim. You will never, ever cringe when you look at a healthy bank balance. Trust me.

© RJ Sutton and Mann Island Media Limited 2014. All Rights Reserved.

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