Do you believe in only living for today and prefer not to think about your tomorrow?

Are you a twenty five years old who still depends on his parents to meet a majority of his expenses?

Do you believe that buying a house is a waste of money because the sky is the only roof you need?

Do you prefer to spend today rather than save and invest for tomorrow?

Does your future mean the following weekend’s plans?

If your answer to these questions is yes, then you are at risk of being tagged a “dependennial”. A millennial who will in the future depend upon family or society to meet living expenses due to a lack of resources.

Some might argue that there is really nothing wrong with living in the moment. After all, being a worry wart is no good. That might be true. However, it is important to understand that the future does eventually become the present. Thus, saving and investing for the future is integral to enjoying your present.

While money can mean different things to different people, it serves the same purpose for everyone i.e., it acts as a medium of transaction. Since there is no such thing as a free lunch, it is important that everyone chooses to save and invest their money – this is the key to your independence.

Why is it important to save and invest money?

• The future is uncertain – nobody really knows what tomorrow holds for us. Every individual’s life goes through periods of peaks and troughs. The money that you save and invest can be your companion during these periods.

• It gives us the power of choice – having the security of a sufficiently large investment portfolio puts the power of choice in the hands of the individual. Do not let money, or the lack of, stand in the way of your dreams.

• Our needs keep changing – just as the future is uncertain, so are our needs. What might hold maximum priority at the age of twenty-five might become entirely insignificant at the age of forty. Judicious investments have the power to cater to our changing needs.

• For the sake of posterity – save for your children’s future so that they have the luxury of choice.

If you are a “dependennial” then it is time that you recognise the importance of savings and investment for the sake of your future.