By Alexis Panayis

I still remember the day my friends suggested that we organise a trip to watch the most exciting football match in the world!

It had always been a dream of mine to watch it. But when they proposed the idea, I was reluctant. There was a major obstacle: money.

As a 19-year-old Cypriot university student, living in my parents’ home in Nicosia, I did not want to be a financial burden on them. Therefore, I had to figure out a way to save up, so I could cover the cost of the trip without asking for additional money.

It was then that I realised that not buying coffee and appreciating my mother’s cooking a bit more was simply not enough. And, as a result, I decided to start my first part-time job…

Taking on my first minimum-wage occupation was a big change. Suddenly, I had to manage my time more efficiently, learn to stand for long hours, and deal with difficult customers. All while knowing I would have to return the next day and do it all over again.

It was exhausting! But the feeling of reward when I received my first paycheck made it all worthwhile.

A few months later, I returned from that unforgettable trip. It was, truly, a once-in-a-lifetime experience. More importantly, however, I had learned a valuable financial lesson…

When you set financial goals, work has meaning and it gives you motivation. In addition, it encourages better management and discipline with expenses. When you work to get your income, you make cautious decisions and reduce impulse purchases because you acknowledge how money is earned.

Saving, I learnt, is important. But it should not hold you back from doing things you love or making memories with your loved ones.

Money is not the goal, money is a tool to help you achieve your goals.

 ‘Cyprus’ Youth Talk Money’ is a Cyprus Mail series developed in collaboration with the University of Cyprus as part of the Financial Literacy Initiative, supported by XM. New student articles are published every Tuesday.

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Alexis Panayis is a first year student in the Department of Accounting and Finance at the University of Cyprus