Money

Relationship with...Money

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3b5821b3ebcf8009a2cd1ce956fdc895
3b5821b3ebcf8009a2cd1ce956fdc895

3 minutes - Article

As you transition to adulthood, take the opportunity to learn about your relationship with money.

This relationship impacts how you spend, save, pay back and make decisions. Managing money can very difficult as a young adult, so be kind to yourself as you grow, learn and make mistakes.

Born budgeter?

“It's not that we magically turn 18 and all of a sudden we are able to know all of these skills,” says Manraj Waraich of the Credit Counselling Society, ““Who's born with amazing money management skills? Nobody is born with amazing money management skills!”

Talking about money is a good first step towards making improvements. People often feel like talking about money is a taboo subject or something that we should keep to ourselves. Manraj says nothing could be further from the truth.

“We have to go out and learn. It's always going to be trial and error. I need to be aware of what my triggers are, what I'm impulsive for, like shopping and figure out how to manage it.”

Anxiety and fear about money?

Aly Sumar of ATB Financial says that money can play a big role in how we feel about ourselves.

“We're all starting somewhere and we're all trying to figure out our own relationship with money,” he says, “We each have our own anxiety and fear about money.”

Aly says that managing money well is something that everyone can learn to do – and can pay off in many different ways.

“Disciplined use of how we manage our money is something that can carry us and guide us in terms of our overall well-being in our life.”

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