Do Twenty Somethings Have Any Business Taking Out Loans?
Bring up the word loan and it gives our parents’ generation the heebie jeebies. As for us twenty somethings, we’re inconsistent with our own feelings towards taking a loan.
So what does a loan mean to the twenty-somethings?
Do we think of it like a chunk of money our friends or parents lend us to get us through a tough month? Are loans just an irresponsible way to get some cash to move us into a lifestyle we can’t afford yet?
Well that’s just the thing with financial inclusivity and the gaps that come with it. Take the average urban middle class kid who has their first job. They’re smack in the middle of the world that tells them material wealth is the only indicator of success.
See that’s the thing. If the world has given you enough privilege to have had an education and a job, don’t we as a generation owe our spending to exploring ourselves? Can’t some of the money we use be investments for expressing and learning who we are? The twenties are the adolescence of adulthood, we’re finding our footing and trying our hardest to see what values we stand for. In the middle of it all, we also want to get that job that let’s us ‘live our passion’.
But your passion is something that can’t be identified by simply wanting it. It’s a process of understanding how your unique abilities fit in this world. You’ll be 48 and still be finding what your passions are. And that’s why planning your money to explore yourself instead of living out the expectations of socially sanctioned success is the most important thing you can do to set you up for your thirties and beyond.
We think these 3 things are worth considering when it comes to taking out a loan.
(1) Solo Travel
There are no two ways about this. Taking a trip by yourself will change your perspective. You’ll observe things you normally would not, you’ll eat differently and you’ll talk to strangers. You’ll be travelling at your own pace with no agenda. Solo travelling means no family drama or fighting over what your friends want to do on your trip. Solo travelling let’s you be who you are in the most natural state: vulnerable in a new place, and vulnerability lets you understand and express yourself in ways you never thought possible. Choose a place more random, enjoy the planning. Then take the trip and let go of your expectations. Solo travelling isn’t an indulgence. It’s a life choice, one that will build an open mind, emotional intelligence and communication skills. These are the very qualities that let you evolve and make you comfortable in your own skin.
(2) ‘Risky’ Equipment
What’s that ‘risky’ ‘unstable’ path in life you want to take one day? Maybe you want to be a photographer one day, or take that screenwriting class. Or spend a couple of months taking a yoga certification class ,because one day you want to have your own yoga school. Maybe you dream about having your own design company. You need the money to buy that time or thing to let you explore it in the first place. This isn’t a splurge on clothes or irresponsible spending at the bar every weekend. No, this is thoughtful money going into that ‘gut’ passion you want to explore. And maybe, it’s something that doesn’t work out or you find out it’s not as fun or cool as you thought it would be. Won’t that still be an amazing experience? No matter the end result the truth is you made the investment (both time and money) on understanding yourself a little bit more and taking that chance. You win either way.
(3) Reintroducing yourself to your parents
We’re all grown up and have jobs. Mom and dad are happy. But who has their child grown up to be? What are the things you want to better articulate to your parents? This is the one time you have a chance to get to know your parents as people and not parents. It’s also a chance for them to get to know you for who you are and who you want to become. A thoughtful loan that plans a holiday to a place that your mom always wanted to go to can make for a unique bonding experience. Investing in a class or workshop with your father or an aunt you are super close to can help you do something unusual and learn together. These things will not only make amazing memories but will capture turning point realisations together. This could be the time where you reintroduced yourself to the people who brought you up. Moments that will give you confidence to go forth and conquer the world on your own terms.
So, what’s in a loan? A chunk of money that will get you into trouble? Can be. But done right, it can give you the opportunity to make you see past the rigid ideas of happiness and success. Done right, it can help you unfold your own story with stunning clarity. What would you invest in?
