4 Financial Hurdles Adults Face

Adulthood is a scam; most young people will say. If only we knew the responsibilities that presented themselves with adulthood most of us would opt for the opposite. Most of these responsibilities we wish we could escape are financial. Expenses such as rent, monthly utility bills, school fees, medical bills, and the list are endless.

Financial Hurdles Adults Face

Some of the financial hurdles we face as young people we need to overcome include.

Financial Illiteracy

The subject of personal finance is not a requirement in our basic and high schools. The closer most children come to the topic of money is at home. The ripple effect of not having proper financial education in our early years is a principal cause of our financial challenges today. If we do not make a conscious effort to learn the topic of personal finance, we will earn money, but it will never be enough; the ‘rat race’ may never end.


‘Being in control of your finances is a great stress reliever’; our inability to manage our finances properly will translate to borrowing to pay for some of our expenses. But if we yearn for a future free of debts and financial stress, we must know how to manage existing debts rather than ignoring them and try as much as possible to avoid taking on new debts.

Poor Investment Decisions

Investing is the science of making money. You must be strategic and always do proper due diligence before you invest in anything. If it sounds too good to be true, it probably is. Whether it is an investment fund, a business, or a property you wish to invest in, always seek advice from a professional before. Do not put your money in investments you do not understand. Read more here.

Not Having A Budget

Most young people, do not have personal budgets. Every month, they earn, they spend, and the cycle continues. The 50-30-20 approach to budgeting shows how to distribute your income. 50% of your income should be for your necessities such as food, rent, and utilities. 30% for your wants. i.e., entertainment, vacations, monthly subscriptions, and 20% for your savings, debt repayment, and retirement funds.

Financial Hurdles Adults Face

In the words of Dave Ramsey, Through knowledge and discipline, financial peace is possible for all of us.

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