Human lives are considered to be divided into various stages based on our biological age. Important 3 stages are Childhood, Adolescence, and Adulthood. During all these 3 stages our requirements in terms of life management are different.
During childhood it is important to cultivate and develop basic things of a child; like building his/her immunity, creating a strong education foundation and making a child rich with good ‘Sanskars’.
During Adolescence, it would be important to build on strong foundations created during the childhood. During this stage, we start planning for the ‘Future’. Teenagers work on higher education alternatives. Graduates decide the career options and so on.
During Adulthood, apart from taking care of our own family, we plan to do something for others. We live for our family and society. We like to create something which creates our identity.
Our financial lives are no different than our real lives. As we have 3 stages of real life, we have 3 stages of financial life too. These 3 stages are-
- Childhood = Foundation Stage (Beginner)
- Adolescence = Goal Planning Stage
- Adulthood = Wealth Creation Stage
More about all these 3 stages in 3 different blogs. Do watch this video for more on this topic.