Some of the public holidays that we celebrate and so many of our memorials and statues represent moments in history when people stood up for their rights and freedom to choose. Freedom of choice is a crucial basic human aspiration, whether it had to do with the right to live in a certain area, vote, or have access to equal opportunities.
Freedom of choice is also crucial to living in our wealthspace. When we make a choice, we need to carry the responsibility that comes along with that choice. The more freedoms we have, the more responsibility we have. Learning to talk about them and engage in ongoing conversations helps us to make better choices and enjoy more freedom.
Here are three financial freedoms to think about this Youth Day.
Freedom to know
The Soweto Uprising (celebrated on June 16th) began at a school in 1976, reminding us of the power and value of education. Education is vital to expanding our horizons and changing the paradigms that other people have given us. At WellsFaber, we strongly support the notion that education is an investment that pays out innumerable returns.
Freedom to speak
We also strongly encourage our clients to speak up when they come across something they don’t understand along their financial education journey. Use your freedom and speak openly with our team and further your understanding of all the moving parts of money management and financial planning. It’s also empowering to encourage your family and friends to speak openly about their financial education and choices. We learn the most when we’re in a strong community, and effective communication underpins all healthy relationships.
Freedom to choose
Don’t just go with what you’re first presented with. Ask questions and explore choices to have exactly the portfolio you want and will best serve your needs. This is why transparent, honest and independent financial advice is so important – to help you know what is best for you and give you access to it so you can plan the financial future of your dreams.
Our choices and freedoms help us develop our deeper identity and then further express who we are. We need to share these with the people we love so that they, too, can be empowered in their choices and freedoms. Financial freedom is a vital stepping stone to financial independence and is a skill we need to work on throughout our lives.