The top five financial mistakes young people make – and how to avoid them

The top five financial mistakes young people make – and how to avoid them

By Idris Seedat, Manager: Investment Challenge at the Johannesburg Stock Exchange
 
Venturing forth into the ‘big, bad world’ as an adult is exciting, daunting – and expensive.
Not only will you find yourself suddenly having to pay for things like accommodation, food, transport and fuel and a host of other costs you never had to worry about previously, but also that your hard-earned cash doesn’t go nearly as far as you’d like.
 
The reality is that life is expensive and many young adults find themselves being brought down to earth with a bump when they discover just how pricey it can be. The problem is that many young adults are simply not equipped to make smart financial choices and end up making all-too-common mistakes that can cost them dearly in the long run. Here are some of these common mistakes and how you can avoid them.  

Studying International Management Image source: istockphoto.com

Studying International Management Image source: istockphoto.com
 
by Floyd Kühner
 
Floyd Kühner talks about the core essentials of studying International Management – a degree he has pursued with a fresh intent to gain global experience.

In my opinion it is essential that students are able to have some courses included in their studies focussed in the field of commerce or business – especially in terms of how a business is run.
 
From my understanding, basic business concepts highlight the processes of organisations, operational efficiency and the calculation of expenses and gains. For me this is knowledge or a way of thinking that can be applied to so many different aspects outside of business.

The University of Dayton Bicycle Program

The University of Dayton Bicycle Program

– and the return of the bicycle as an eco-friendly solution…

The University of Dayton, a top-10 Catholic research university in the U.S.,  overturned Cambridge University in our selection of the university of the year for 2013. Whilst Cambridge University defeated Oxford University in the annual boat race in 2012 (with the latter winning it back in 2013). It was the University of Dayton that received our attention with their Bicycle Program.  

The Challenging Adventures of Careers and Education – 2013 adventures leading into an interesting 2014 *Image source: iStockphoto.com

The Challenging Adventures of Careers and Education – 2013 adventures leading into an interesting 2014 *Image source: iStockphoto.com
 
2013 adventures leading into an interesting 2014
Two setups (in South Africa) pushing forward brain power and smart thinking as a means of a challenge!  
 
-The JSE Liberty Investment Challenge – creating a market place for tomorrows trading legends. 2013 proved a competitive challenge, 2014 is expected to better this! Also check out the challenges dedicated schools website.
 
-The International Hotel Schools Boot Camp – a bursary challenge for the budding hospitality champion. Dynamic and out the box, this has become an annual fixture in hospitality industry in harnessing future talent!

The cost of education *Image source: http://www.istockphoto.com/ Copyright: KenDrysdale (Kenneth Drysdale)

The cost of education* *Image source: http://www.istockphoto.com/ Copyright: KenDrysdale (Kenneth Drysdale)

Financing a career or an education is challenging. It is tough pursuing a world-class specialization and the expenses that come with it do add up.  

However there are some fantastic setups powering financial solutions for individuals. From scholars seeking achievement at school level and students in need of tuition assistance. To of course the working individual wanting to fine tune their career - in this case looking for a fellowship of sorts. FirstStep.me has picked ten of the most promising, well organised, popular and of course stable setups that have shown through their programs they will both be creating leaders, innovators and change makers!