What's the hardest lesson you've ever had to learn about money? What’s the most powerful one? For many folks, these lessons come from hard-earned experience. They aren’t taught in a classroom. Instead, many folks go to the school of hard knocks. It’s the learn-as-you-go way to understanding personal finance. And those lessons we pick up can shape how we think about and handle money. They can also stick with us for life.
So, what are the money lessons that are never too early to know?
Are there any that you still have to learn? Or get better at? Let’s find out. These essential finance lessons aren’t typically taught in school, but they’re still incredibly valuable to know as early as possible.
And they can take some people a lifetime to learn.
- Accountability is key
- Pay yourself first
- Money isn't the only thing
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Familiar or foreign, learning these lessons about money isn’t like memorizing a simple fact. It’s not a one-and-done deal. It’s more like honing a life skill. We have to practice life’s important financial lessons to make them actually work for us. And the lessons we need the most can change at any point in life. In fact, even those of us who are pretty savvy with money still need to reconnect with the key lessons of finance from time to time.
Why?
Because new situations and challenges that test us can pop up at any time. After all, in life and finance, things can change quickly. That can mean we end up facing new complex financial choices that we never expected. If or when that happens, you don’t have to learn your next important financial lesson the hard way. And you don’t have to jump into any decision blindly or stand at the crossroads alone.