Demystifying money: A young adult's journey to freedom

An article I read quoted Scott Galloway, who provocatively claimed that "it was smart to be born rich." Not because anyone can choose their birthplace, but because the wealthy tend to talk about money openly. Financial knowledge flows freely in such circles, making money less of a mystery and more of a tool.

Interestingly, Galloway also noted that wealthier families often view academics with flexibility. Stellar grades aren’t treated as life-or-death—they are important, but not the sole determinant of one’s future. This mindset starkly contrasts with other socioeconomic groups, where academic success is sometimes seen as the only pathway to security and opportunity.

Grappling with Money: My Early Adulting Journey

For much of my early adult life, money felt elusive. I couldn’t fully grasp its purpose, how to keep it, or how to grow it. After nearly five years in the adult world, I’ve finally begun to see money for what it is: a tool and a means to freedom. But getting here was a journey fraught with lessons and realizations.

Looking back, I often wonder why fundamental financial concepts weren’t taught earlier in life. We spent years mastering complex math, science, and literature, but money—a critical aspect of survival and freedom—was left out of the curriculum. This lack of preparation leaves many young adults feeling shortchanged as they enter the "real world."

Was financial literacy deemed too complex, or did society simply overlook its importance? The saying “Adulting is a scam” often feels painfully accurate. While firsthand experience can be invaluable, does financial literacy really need to be a baptism-by-fire lesson? Many of us entered adulthood flatfooted and ill-prepared, and it swallowed us whole.

Lessons from the Wealthy: Opportunities Beyond Academics

Reflecting on stories from friends whose parents empowered them financially, I’ve come to appreciate the role of early exposure to financial tools and entrepreneurship. Here are a few examples:

• One friend’s father opened a car wash for him while he was still in university. It wasn’t just a business but a form of grounding, providing discipline and purpose in a period of life filled with potential distractions.
• Another friend was gifted a spa and barbershop, setting him on a path of entrepreneurship.
• A girlfriend of mine had a restaurant opened for her before finishing her degree because her parents recognized she couldn’t rely on the elusive job market.

These weren’t merely financial gifts; they were life lessons in responsibility and independence. They underscore Galloway’s point: being born into wealth often comes with opportunities to learn about money in practical, impactful ways.

The Missing Pieces: Practical Financial Education

For years, my relationship with money was unstructured. Living under my parents’ roof spared me from financial strain, but I often think about peers who faced the high cost of living independently. For many, concepts like savings accounts, SACCOs, money market funds (MMFs), and certificates of deposit feel like distant luxuries amidst pressing day-to-day challenges.

However, financial literacy isn’t a luxury; it’s a necessity. It’s about learning how to convert skills or services into income, how to create value, and how to turn that value into tangible results. The education system and societal structures often miss the mark, failing to teach young people the practicalities of managing and growing money. This gap perpetuates a cycle of financial struggle.

A Blind Spot: From My Perspective

While financial literacy is gaining attention as a vital skill, I believe there’s an equally critical, yet often overlooked, component: learning how to sell. The ability to effectively sell our solutions, services, tools, and even ourselves is indispensable. Bridging the gap between theoretical knowledge and practical application is essential, yet it remains a significant challenge for many.

This gap represents a major blind spot. To address it, we must focus on developing skills that are not only relevant but also practical and aligned with current needs. By doing so, we can make conversations around money more meaningful and impactful for young people, equipping them with the tools they need to thrive in the real world.

Moving Forward: Taking Responsibility for Financial Growth

While socioeconomic circumstances influence financial literacy, individual responsibility is key. To be free, one must first desire freedom and take personal steps to achieve it. Learning about money and by extension - selling, is a lifelong journey, but the earlier we start, the sooner we can harness their power.

Money, at its core, isn’t about opulence or greed—it’s about freedom. Freedom to choose, to create, and to live fully. Let’s keep talking about it!

Happy financial literacy and freedom in life!