In addition to financial IQ, financial discipline at an early age is the "missing key" to effective planning for securing your financial future.
While the young man in this article may be on the "extreme end" of it, learning to delay one's personal gratification often works when coupled with compounding interest and wise investment choices. I have often mentioned and taught my kids the mantra to make every effort to "Avoid spending your tomorrows today if you still want to have tomorrows there waiting for you".
URL: Man who only spent S$500 monthly for 6 years says: "Don't let your lifestyle inflate when you just begin working" - Singapore News (theindependent.sg)
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