The young investor It is quite surprising in this day and age that we haven’t seen the introduction of a personal finance course into the secondary school system, yes some students will pick up a few of the basics via leaving certificate business or accounting but the fundamental core components of personal are nowhere to be seen. Yes in an awful lot of cases good parenting will help develop some basic knowledge of personal finance but at the time it can be painful to listen too, and you usually switch off after 2 seconds However the economic environment has changed dramatically over the last decade, previously if you had a savings or deposit account the bank would be providing you with an attractive savings rate and you would be happy getting your 3-4% on top of your savings. It was safe,you knew where your money was and exactly what you were getting back from it, if you kept it growing over a period of time you would hopefully have enough money to pay for your holiday abroad, maybe buy your first car or if you waited long enough you may even have accumulated enough money to place a deposit on your first home. Fast forward a few years and that 3-4% no longer applies, that savings account isn’t growing the way it used to, the banks lending requirements have become more strict that holiday abroad or that first car seem like a long way away. So what is the best course of action for the young investor to adapt to the external environment? These are the things that you should probably be taught in school, in order for you to make the correct decisions with your first set of wages. Over the course of the next eight weeks I am going to go through each of the following topics and hopefully you will be in a better to dictate your financial future. Self Control Take Control of your own financial future Know where your money goes Emergency Fund Savings for Retirement Getting to grips with Taxes Guard your health Getting homebuyer ready
