If we were taught certain key lessons about money and personal finance during childhood, we probably would have been millionaires by now! Yes, millionaires.

Remember when we use to get some pesewas for cleaning rooms, running errands and so on. What about getting the cedi notes for giving direction to strangers and doing many other things?

All we probably knew then was spending the little money we got on things we wanted to acquire and enjoy; toys, video games, sweets. We never thought of saving then. By saving the 20 or 50 pesewas for months could have cultivated very useful personal finance habits.

As children, we learn to spend and as adults, we learn to save. That is a general thing known to almost everyone but it is unfortunate. Through all of this, we, unfortunately, didn’t learn how to manage our day-to-day personal finances.

Here are five money lessons we should have learned during childhood. Lessons that could have made you a millionaire by now. It is not too late.

1) Know what you can afford

It is always better to be realistic and truthful to yourself about what you can afford. Although it is hard to do that daily. Really consider what you have and live a lifestyle according to your salary or income.

Live within your means. Mostly the problem arises when we are to make choice. The first lesson, know what you can afford and live within your means.

2) Make Savings a priority, not an afterthought

Growing up, we realize we think more about using any little money we get on one thing or the other without actually considering saving part of what we get. Now, we are either thinking of buying a house, car, going to watch the latest movies among other spending.

Amidst these plans, we do not prioritize a savings account. It is no surprise we don’t, because it is quite difficult to do, especially when we have a lot to spend on and less money. The solution is; always allocate certain percentages of all your incomes on the things you want to buy or acquire. Also, prioritize your needs or wants so that you allocate a higher percentage of your earnings to them, then set an amount to be saved.

3) Deal with debt, quickly

Whenever we get into debt, we sometimes do not prioritize paying it off quickly, therefore, ending up costing ourselves hundreds or thousands more in interest. Have you realized it feels difficult to pay off debts than paying for what your want or need upfront? Even more when the payment of debt is delayed? Being in debt is never a great idea. However, if you are saddled with debt, deal with the debt as quickly as possible. That is the greatest strategy.

4) For what you didn’t learn about money, ask

Ignorance about finances can cost you a lot. You would not want to be a pauper. Therefore, ask all you want to know about money and finances. Even among friends, in school, over the internet. Just do it. Do your best to ask about what you do not know about money and get knowledge about it. Knowledge is power. What about personal finances and money can save you a whole lot of struggles. Funny enough, if you refuse to ask questions about money, you end up losing, even more money.

Do a lot of research about money. It is to your advantage if you have so much information at your fingertips, personal finance websites and tools like Credit Karma, LearnVest, Bundle and The Motley Fool can help you understand and manage money. There is no longer any excuse.

Bonus tip: It is extremely important to learn how to bargain. It is a great personal finance tip. You must have a good bargaining power. You can buy items below advertised prices if you have great power to bargain. It is not about being stingy but being wise about your personal finance and spending. Do not wait to be taught about money and personal finance. We all need to question, challenge, and learn about it to empower ourselves each and every day to keep the dream of becoming a richer and prosperous alive!