“They convince themselves, and it becomes like a self-fulfilling prophecy,” Foster said.<\/p>\n
She listed three things people can do to change that.<\/p>\n
1. Ditch your ‘I’m not good with money’ vocab<\/p>\n
Foster said the language we use when talking about money makes all the difference to our spending habits.<\/p>\n
“Young people pick up the vocab and the emotion that their families have, and so their minds are set from such a young age,” she said, adding that often they end up “fearing money.”<\/p>\n
Foster learned about finance through her training to become an accountant<\/a>, but said you don’t need certain training to understand money.<\/p>\n Before jumping into investing, you should even just start by downloading some trading apps and having a look at how they work, Foster said.<\/p>\n 2. Don’t keep all your savings in a savings account<\/p>\n Holding all of your money in a checking account is “literally handing money over to banks,” she said.<\/p>\n Foster said your savings account should have enough to cover three months of living expenses, but no more than 12.<\/p>\n Related stories<\/p>\n Business Insider tells the innovative stories you want to know<\/p>\n Business Insider tells the innovative stories you want to know<\/p>\n When it’s sitting in a bank, you’re wasting your money because inflation will eat into its value, she said.<\/p>\n Foster said people could invest in stocks related to fields they are interested in. She gave the example of someone who is interested in Formula One investing in a stock like Ferrari. For the long term, Foster recommended people look at index funds, such as the S&P 500<\/a>.<\/p>\n 3. Think about your retirement now<\/p>\n “I think planning for our future selves is where we always have to take an active role,” she said.<\/p>\n![\"\"\/](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/09\/placeholder.png\")
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