If you’re of a certain age, YOLO needs no translation. For the rest of us, personal finance writer Jason Vitug has helpfully spelled it out in the title of his latest book: You Only Live Once.
Vitug is American, as is his publisher John Wiley & Sons Inc. but, as is often the case, the basic principles transcend borders.
Vitug was a credit union executive who has turned financial guru and now runs the Phroogal website. He urges finding financial freedom as soon as you can in your financial journey. Read More…
YOLO! lol i never heard of this term until now. Tells you how old i am 🙁 Anyway, my thoughts. I remember when i was young i had this YOLO attitude and personally as i look back i feel it was not the best mentality. I ended up having to work an extra 10 years just to save enough for my retirement.
Ok yes, it was fun but if i had just moderately saved and had fun it would have been a win-win. Now i know. Don’t have kids so can’t pass my experience to them.
Canadians still carry one of the highest debts in the world. Most of it tied in their mortgages and credit cards. Seems like most are yolo already.
Everyone should live life happy and without concern over finance. It’s all about balance. Budgeting and planning. It’s really quite simple.
The only ones who will be grumpy about this meme are the eldest of the bunch. Time has passed them and so only look back on regrets and things that could have been done when in their youth and so when they see the young having fun it just makes them want to dish advice about being more responsible. Meh, yolo!
It’s this kind of thinking that damages a generation into becoming irresponsible, lazy, dependents. It’s a horrible word. We should make simple financing a priority in school curriculum.
That term is so last year for my generation. Because it’s an always on world and we have heavy distractions from Netflix to Facebook its no surprise why we are less focused on reducing debt and living for the now.
I must be living under a rock i just learned what Y.O.L.O stands for. I thought it was just a silly gibberish word used by my children. Didn’t know it actually had a meaning. 🙁
Save more than you spend, invest early and frequently, pay off debt and use credit sparingly, build assets, and create passive income.
Easier said than done. Where does one begin? I suppose it all starts with saving a little?
I’m still in school and everywhere there are a lot of banks handing us free credit cards. Getting us hooking on debt early. It’s stuff like this that make it hard to want to save and plan.
Bah, its always been the same in every generation. When you’re young and know you’re invincible it only is a logical thing to also want to live fast and free.
When you live with mommy and daddy for 18 years of your life i dare you find a sizeable number of Canadians who didn’t have this mindset of yolo.