Economic Adulthood

The world we live in revolves around money, whether we acknowledge it or not. Joint families were common till a decade ago, and responsibilities were shared among them. Right from agriculture, fishing, and other rural economies, almost everyone put in their work. For decades, parents have taught their kids the importance of earning to sustain life.

In modern days, nuclear families are the norm. More responsibilities now. Money is valued more now. Lifestyles are increasing beyond the means. The very purpose of educating a child is to make the child employable, earn, & take care of their financial future.

Adulthood is not just an age. It comes with social roles and normative expectations like the ability to make decisions, responsibilities, and self-reliance in life. The majority revolves around money. From this stage, they face real-life financial matters like earning, managing expenses, budgeting, fulfilling needs & wants, investments, protection, and more. We call this life phase economic adulthood. Every aspect of money matters is deeply interrelated. Understanding the basics of personal financial management is key to successful economic adulthood.