Money know-how can come from anyone, young or old. When it comes to financial wisdom, author and speaker Kylie Travers has taken her lead from the previous generation.

Get serious about saving

You can’t avoid it. To get on top of your finances you need to save and to save means you have to have financial discipline. Kylie was taught by her parents and grandparents that if you want to look forward to a better financial future, you need to take a serious approach to saving.

“My parents raised me to save money, set big goals, work hard and think about the future,” says Kylie. “They were both very open about money and my Dad gave me a copy of “The Richest Man in Babylon” by George S. Clason to read when I was just 12. So I learnt early about what you could do with money if you were prepared to save. My parents invested in shares and property and that helped me realise how much more freedom you have with other sources of income, apart from your earnings or salary.”

Seek out advice – especially from experts

Kylie has enjoyed the benefits of family advice on their finances. Several of Kylie’s uncles ran businesses, which has given her plenty of advice and real experiences to draw on when setting up her own company and brand. But she was quick to learn that well meaning friends and family will only take you so far. “I didn’t just rely on my own knowledge or what friends were saying,” says Kylie. “I engaged a lawyer I could trust to help me in my business and personal affairs and through them, found an accountant and financial planner. Their advice has been essential for expanding my business.”

Plan for tomorrow, live for the now

Although baby boomers are often praised for keeping a tight hold on their purse strings, perhaps they have something to learn from the millennial trend for living in the moment. Something else Kylie learnt from her grandparents was how much you could be missing out on if you only plan and save for the future. “I had one set of grandparents who lost everything and struggled to live on the aged pension when they retired,” she says. “My other grandparents planned carefully for a long and happy retirement but they both died at 63. So they didn’t have the chance to enjoy all those savings they’d worked so hard for. My Mum also died very young at 37. While I might be careful with my finances and make sure my daughters and I will be provided for, I also take time to enjoy what I already have.”

Everyone has something to offer

Kylie has a live in the moment approach, particularly when it comes to offering the best of yourself to others. “Don’t underestimate the impact you can have on people you encounter in the world,” is her advice to the rest of her generation. “By bringing a bit of fun and positive energy you can help people feel motivated to succeed in a world that seems full of constraints and obstacles.”

Kylie also advises young people to keep an open mind. She appreciates just how much the financial wisdom of her parents, uncles and grandparents helped her make positive decisions for her finances. “The basics of finance have stayed the same,” she says. “Digital has changed how we manage our money day-to-day and there’s plenty more information available, but the principles are just the same. And that’s why it’s worth listening to a generation who’ve already been through the same challenges we face – trying to find a way to live our dreams, with the money we need to do that.”

We here at Quill can offer expert advice to help you make the most of your finances today, and into the future.