YOLO stands for “You Only Live Once”. This means that if you can do it now, do not hesitate. YOLO is like a mantra to increase confidence in self-worth and resilience in the face of life's uncertainties. It is in line with the goal of modern education, creating a generation of global citizens with unique personalities, creativity, passion, and entrepreneurial spirit. 


Nevertheless, this idea could deceive individuals into thinking they must "live life to the fullest" or "live in the moment" without deliberately planning a budget. People would probably think that living in the moment leads to more happiness because there is no way to predict what will happen tomorrow. As a result, the YOLO way of thinking still brings some disadvantages. 

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The belief that "You only live once" can lead to a lack of responsibility in facing the consequences of your actions and breaking the norms. A young male is willing to drink alcohol, use drugs, and then race to cause serious accidents; YOLO girls can be ready to be naked when euphoric after a soccer game and indulge in one-night stands... Without proper assessment and attention, the pursuit of risky experiences can be dangerous to oneself and others.

Unstable finances

Because debit and credit cards are so widely used, the problem of a large number of youngsters not knowing exactly what they spend their money on is made worse. Young people become addicted to shopping and shop on trends, following one-way advertising from influencers to satisfy immediate experiences, not what they need. Therefore, many of them are always in a state of financial imbalance. They also borrow in advance to spend, and in times of social crisis like COVID-19, there is nothing left to live for.

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Insufficient planning for the future

The Yolo way of life might make it difficult to maintain orientation and focus. Enjoying every moment is able to make the young lose their ability to plan and work towards a larger goal. This can affect personal growth and career success.

Young people must comprehend that although "you only live once," it must be a meaningful life lived in the right way. To take advantage of YOLO lifestyle, enjoy every moment in life, and avoid being out of control,  keep some of the following in mind. 

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Set a goal and create a life plan 

If we live a YOLO life without preparation, there will be so many unpredictable circumstances we can not handle. Therefore, having a plan for our life is one of the most effective strategies to attain what we truly want. You can refer to “The 4 Burners Theory” in order to figure out how to manage so much ambition we are all chasing. 

Keep an eye on your expenditure

The purpose of tracking your expenses is to increase self-awareness, not as a punishment. A budget is not meant to be restricting; rather, it should help you spend money sensibly on the things that matter to you the most. Your spending decisions will become more prioritized if you know how much money is left over after taxes and savings.



Source: Zyald