To become an adult means you start assuming adult roles, take up various responsibilities, define career paths, invest, identify goals and priorities to properly prepare for the future.

However, a great number of the youth have failed to establish the relevant financial management skills, and this poses a significant risk to their desired financial stability. 

Most people within the age bracket of 18–30 have no idea what they have to do at this stage to secure a decent future for themselves and their families.  

From drinking sprees, to extravagant lifestyles to acquisition of luxury items often takes center stage in their lives driving them away from the path to realising their dreams.  

Most of these You Only Live Once (YOLO) moments then replace investment as some of them glimpse at a bleak future by losing jobs, getting evicted, hunger pangs and depression.

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Should you find yourself in that predicament, here are some drastic measures you can take to mitigate any further sinking into the financial abyss and back to the path to prosperity;

1. Have a plan 

Plan for a successful future because failure to plan is the easiest recipe for failure.

Set manageable goals and put them down in writing.  

Plan meticulously on how to achieve each goal by attaching timelines for evaluation, then execute your plan. 

2. Budget 

Always draw an intentional budget whenever you get money and strictly stick to it as these

are guidelines that will inform your expenditure.

You also need to develop a culture of following your money to know where you spend them. Following your money means accounting for every single coin spent in the month.  

Following your money will inform your budget and help monitor your spending habits. 

3. Self-Organise 

Organise your life by priority; learn to differentiate your needs from your wants and then rank them in terms of importance, urgency, time and resources available.

4. Get Tips

Borrow financial tips from experienced or successful individuals and try to put them into practice.  

Read a lot of books on personal finance and wealth building to help you manage your cash.

Interact with experienced or successful people in your society and ask the relevant questions.

4. Constantly Learn

Utilise every chance you get to learn something new and do not limit yourself to your area of comfort.

Expand your skills set as much as possible because that will not only make you knowledgeable but also marketable. 

5. Invest Wisely 

Buy property that will generate income for you or establish a business that will supplement your regular income.

Financial success is achievable and you have a chance at it once you decide to turn around and pursue it.  

What you must do is to make the necessary adjustments, stick to your plan, make informed decisions and spend money wisely.