By Maria Manelova

As a final-year student in Cyprus, I am still navigating the confusing world of money management.

It’s a constant dilemma!

Do we live our student life to the full because we only live once? Or should we stay cautious now to make life easier later?

For many of us, the importance of money only clicks once we stop being dependent on our parents. If you become independent at 20, that is essentially your ‘Year One’ in the real world.

Unfortunately, early mistakes in budget management can be severe. I know people who’ve had to postpone their dreams of a master’s degree or a new business because they weren’t prepared for the scary reality of financial side of life.

Our generation is frequently swayed by ‘Finfluencers’ on social media, who promise quick wealth. We often fall for trends such as betting on cryptocurrencies before we even know how to organise a basic budget.

This lack of financial literacy isn’t just a personal issue; it leads to higher stress and less innovation, which eventually slows down our whole economy.

I used to think of money as an obstacle to jump over just to get to the ‘good life’.

I’ve since realised that money isn’t a barrier, it is a tool. Whether you have a lot or a little, the real secret is learning how to make it work for you.

The future is in our own hands. And to leave an impact without being discouraged, we must be equipped with more than just big dreams and creativity – we need practical knowledge.

Maybe, talking more openly about money is the first step to turn a source of stress into a source of strength.

‘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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Maria Manelova is a fourth year student in the Department of Accounting at the University of Cyprus