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Financial Maturity – “I know What I am doing”

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Very less has been written on this topic so far now. Also, the definition will be subjective once you hear the term “financial maturity”. Everyone will have their own version and it’s okay. In reality, financial maturity means, “I know What I am doing with my Money”. There is enough attitude in those lines, which revolves around a person’s financial life. Sadly, we are over-confident and we don’t know what we are doing with our money. Do not make a mistake to compare the financial maturity with frugality, both of them are different. A person who understands how his decision affects his personal finance is Financially mature. He might spend money on expensive laptops or business class flights, furthermore, she might not spend money on lavishness and only shell out money out of her purse whenever deemed necessary. It’s hard to understand this, but the person in charge will be the best person to know his/her circumstances and take the call accordingly.

Consequently, financial freedom goes hand in hand with financial maturity. The level of your financial maturity will decide how soon you will achieve financial freedom or the level of your financial freedom will affect the maturity of your financial decisions. But one thing is evident as I said above, the person will weigh the advantages and disadvantages of spending and if and only he/she will see the positive influence of the said expenses then only he/she will be ready to incur the same.

Financial Maturity doesn’t have anything to do with the age group. People in their 40’s make wrong decisions based on instant satisfaction and society status without weighing in the opportunity cost. Furthermore, people in 20’s with their first salary in hand will make the wise decision to purchase a medical insurance for them. Financial maturity comes with experience and balanced head on your shoulder, the more sooner you will attain it the better it is for you.

It’s not a wholesome game either, sometimes it’s best to replace the wise head with a stupid head to enjoy the life with your loved one. The game is more about the individual task rather than the whole plot and you should also focus on the individual task and enjoy the game. So

what’s your idea of financial maturity? You can add your thoughts in the comment section below.

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