My mother gave me one of the most memorable pieces of financial advice I’ve received.
She has now passed away, but had a farm upbringing. She married, had six children and was widowed at a young age. She managed to bring us all up with limited income, and a tough, no-nonsense attitude.
When I was eleven, I had just got my first part time job as a paper runner and my mom shared with me her advice for spending.
‘Always ensure you invest a little, and do it often. Compound interest will take care of the investment growth over time and turn it into much more than when you started.’
This started me on a good track at a young age to understand finances and want to help others
Today I am the financial planner with Yellow Brick Road Campbelltown based in the busy area of Macarthur area and I still haven’t forgotten that advice. I now have super, shares and investment properties built up slowly over many years.
Not only do I help my customers understand their finances but I have ensured my three children have learned regular savings and are buying small amounts of shares and additional super for longer term savings.
You can start small but everyone needs to start sooner rather than later.