This week, we asked the Invstr Community about their early relationship was to money management. The result, taking almost half the votes, was the 46 percent of Invstrs who were never taught money skills, and wish they had started young. Financial responsibility is arguably one of the most underestimated, necessary abilities needed for adulthood. Earning, saving, and investing money is a vital skill that helps individuals plan for their future, retirement, and their children’s lives; this makes it quite interesting to see that the majority of Invstr’s were never taught how to manage their money. In second place is the 27 percent of Invstrs who claimed that they were taught how to manage their money, and now they will be an investor for life. A little over a quarter were fortunate to learn money skills, and specifically, how saved money can be put to work for different purposes. When learning the basics of financial fitness, one will understand the significance of investing and how it can help you build your generational wealth.
At a close third place, we have none other than the 24 percent of Invstrs who knew about these skills but never put them to practice. Several times, people can become dissuaded from investing for numerous reasons. Whether it is they feel they don’t have enough money to invest or they don’t know where to start, the process can feel a bit overwhelming at first. With a confident mindset and the tools that Invstr provides, one can learn about the basics of investing in Invstr Academy and even start putting that knowledge to good use through Fantasy Finance, growing to a comfortable level to where they can put just $5 into their Invstr+ account. Lastly, we have the 3% minority of small, but impactful Invstr’s who not only excel at their own financial responsibility but have made it a habit to teach others around them the importance of investing. Although it can seem small, the small push you give to beginners around you can mean a lot, starting their careers off on the right track to healthy finances that can last them decades.
What do you think about the importance of learning money skills at an early age? Have fun and see you next time with more poll results!
- The Invstr Team 🙂