by Samuel Ngari,
What comes to your mind on the issue of financial or money independence as a student? At which age should one be financially stable? Should you blame your parents or you or your caregivers when met with financial difficulties as university student? In this article we answer all these questions.
Some students may feel the need to blame their parents for having not yet gained financial independence at a certain age or for having neglected them financially. They might argue that its their parent’s responsibility to continue supporting them until monetary freedom.
Sena Dickson is a second-year student at Chuka University and he is pursuing journalism and mass communication. He narrates his educational journey and financial struggles.
“I can say that the journey has been tough and my educational journey has been challenging but that has propelled me to making better life choices. I grew up in a nomadic home where our source of food supply and life expenses solely depended on our livestock. My father has married four wives and my mother is the third wife among the four wives. My siblings are thirty-five and I am my mother’s third child. Saying that our family is large is an understatement and that whole population depending on my father is no joke.
Unloved children were usually taken to school in our nomadic settings, since they believed that education is a waste of time and one was perceived as a fool for being in school. My father’s lack of paternal love pushed him to accepting my mother’s request to send me to school.
That came with its own challenges. Firstly. I had no uniform and I wore a long shirt and pair of shorts to at least cover my privates. Food was another issue but thanks to my mom who once in a while prepared some porridge for me, not to mention the heart-wrenching three kilometers I had to walk to reach school. My generous mother used to escort me. The school was just one building made of wood and could only hold a capacity of 60 students meaning even learning materials were scanty.
Anyways, to cut to the chase I do blame my father for neglecting me financially. Through primary school I really suffered and even at some points falling sick and he showed no remorse. I did my K.C.P.E and acquired 330 marks and enrolled in high school. I conquered all the barriers and in my final exams I got an A grade.
This without a doubt gave me a chance to have a slot in the university and ironically impressed my father. He seemed welcoming for the first time in my life. Although, now I have forgiven him I still believe one has a right to blame their parents on the issue of money independence”. End of quote.
Ronald Mwangi, a fourth student in the university of Nairobi who is also pursuing journalism speaks on economic independence as young adult and also gives his insights on the issue of one blaming their parents on financial independence.
Economic independence as young adult especially between 20 and 24, is a situation where one is in reasonable standards where they are able to afford basic amenities and have spare amounts of money to save or expend on their individual luxuries. Independence to me implies a situation where they are not wholly or partially reliant on any secondary sources to fund their lifestyle.
Blaming parents in this case implies there's responsibility on one party. Our parents have a duty to ensure that we have comfortable living standards. They have a responsibility to feed us, pay for our school fees, clothe us and even go out their ways to see us smile. But, when one gets to a point where they are wholly capable of generating some income, then the blame becomes invalid. This question may carry some emotions to it. Feelings of culpability on the parents’ end. One must try to be rational in how they address it.
Young adults should not feel entitled to job networks either by their parents’ connections but should establish their own career paths. Overdependence makes you lazy. Other people have their own problems going on the same as you. Go out of your way and broker those connections yourself. Much more pleasant networks will be forged that way. If you have reliable sources that can get you into jobs a lot quicker, that’s fortunate of you and it's best to capitalize on that. However, be sure to keep your cool and remain humble. Watch out not to be arrogant because things came easier for you. It's very condescending.
Do you the current generation of our youths are lazy or they are unfairly labelled as lazy? I think labeling a whole generation of people because of the perceived actions of a portion of some individuals within that demographic is inherently biased and very stereotypical. Gen Z’s have proven to be remarkably creative and adaptive. The argument is often based around the consumption of Internet materials and how dithering it has made many seem. It is however, true and important to note that this very trend sure has made many ambitionless. It may in some sense be a valid inference and it takes an individual’s will to go out and grind.
Societal and economic factors influence the financial situations of young adults today, compared to personal choices and actions. Peer influence is a well-studied phenomenon. Should I see an agemate- one I probably know or don't living large, I will be envious of their situation and probably make poor financial choices trying to match their lifestyle. It is crucial to understand that our financial decisions and situations can be subject to economic elements too. Prices often change and your resources being limited you are forced to make tough choices to reduce your spending and maintaining your expenditure. Personal choices have greater influence to our choices with regards to money at hand. Prudent decisions are crucial. It is best to remain frugal and not attempt to impress anyone.
Choices regarding finances are learnt and experienced. You may be privileged but still be quite extravagant, or maybe lack discipline. If you have Privilege or any opportunity, you're in so much luck. Those who are not privileged with opportunities have to work extra harder to make ends meet. Either way, it comes down to how financially literate you are and that’s the role I believe privilege and opportunity play in achieving economic independence for young adults.
How do you navigate the balance between seeking help from your parents and striving for independence in your financial life? Communication, is important sounds cliché but undisputed. There's no shame in not being able to buy something on your own nor in asking your parents for some level of assistance. Be reasonable however. Do you need it so badly that you would want them to purchase it for you or you have to dig so deep in your pockets for it? For instance, someone who has been earning sure has stories of when they almost went broke and how these moments strengthened their resolve to work harder or make tougher choices next time, they were to receive their next pay slip.
What I would tell my fellow youths is to dream big dreams. Time for the youths seem only like a blur. Just needing to iron out a few wrinkles and everything will be fine for them. It's a process of resolve and a persistent determination. You know about SMART goals. Seek not to compete but to grow yourself, not just growth but incremental growth. Do not forget to celebrate every win no matter how small.
It is also important for young people to develop their own skills and networks rather than relying on family connections for job opportunities. Skills and capacity building are the foundations to self-growth and pave the way for greater opportunities in the future. In psychology, there's a phenomenon called the reciprocity effect, a situation where you feel indebted to someone for a deed/favor they made for you. The situation that gave you the 'great leap forward'. (This mindset is also what contributes to the Black Tax situation which still exists today) Black tax in simple terms is a mentality held by black people, who believe that if a person is on a higher ladder than others, they should be in a position to help those below them especially in families.
It's best to grow and hone your own niches, be proud of them and go after opportunities that align with your rubric.
Financial education, is crucial among the young adults to know how to make the best use of their money and avenues for investment. They also need to listen to their peers and parents on the best ways to manage their finances. We might be dissimilar financially but be smart enough to know what is of primary concern and what is not necessary at the moment.
photo courtesy of Kues 1 on freepik
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