I'm 23 and I can confidently say I have more money in my savings account than what many Americans probably make in a year. I've been saving and investing for many years now and the best I can say is: Live below your means. Budget, budget budget.
I barely use my credit card. I don't buy things I can't afford. I follow my budget strictly 99% of the time so that when I do want that new outfit or that new watch or pair of shoes I can get it. When my girl wants a new outfit or a piece of jewelry I can buy it. When my brother asked me for money to help put my niece through private school I was able to give it to him. Money doesn't buy happiness but goddam it's nice when you don't have to worry about it.
I don't really use any of the penny pinching techniques shell is talking about but then again I don't have children or a house or school loans to pay back. I pretty much only support myself and help out with my niece which is a freedom that I know many people don't have.
I always encourage people to examine where they spend there money. Ask yourself the tough questions... Do you need that $140 a month Verizon phone bill? Do you need the newest phone every time one comes out? Do you need that new car that you clearly cannot afford and that you'll be paying off for the next 7 years? Do you need to move to that nice neighborhood across town when you still have a 10 year mortgage on your current home? Do you need to depend on credit cards? Do you need to eat out twice a week? Do you need to stop at Starbucks every morning for a latte? Do you even need to drink coffee? Or tea? Or pop? Chances are you can cut more things out of your budget than you may think. If you want to get ahead financially, it takes sacrifice.
We go through our whole lives with people trying to convince us to buy this and that and while we will all be influenced by advertising to some extent no matter what it feels much better to at least try and make a conscious decision about where you spend your money. Most people just spend their money aimlessly without realizing why and it's honestly silly. It takes sacrifice and discipline, but learning to live through a budget is honestly the smartest way to go.
I think it's awesome you made this thread and I hope everyone reads it! Who knows how different the world be if everyone spent their money wisely...
I barely use my credit card. I don't buy things I can't afford. I follow my budget strictly 99% of the time so that when I do want that new outfit or that new watch or pair of shoes I can get it. When my girl wants a new outfit or a piece of jewelry I can buy it. When my brother asked me for money to help put my niece through private school I was able to give it to him. Money doesn't buy happiness but goddam it's nice when you don't have to worry about it.
I don't really use any of the penny pinching techniques shell is talking about but then again I don't have children or a house or school loans to pay back. I pretty much only support myself and help out with my niece which is a freedom that I know many people don't have.
I always encourage people to examine where they spend there money. Ask yourself the tough questions... Do you need that $140 a month Verizon phone bill? Do you need the newest phone every time one comes out? Do you need that new car that you clearly cannot afford and that you'll be paying off for the next 7 years? Do you need to move to that nice neighborhood across town when you still have a 10 year mortgage on your current home? Do you need to depend on credit cards? Do you need to eat out twice a week? Do you need to stop at Starbucks every morning for a latte? Do you even need to drink coffee? Or tea? Or pop? Chances are you can cut more things out of your budget than you may think. If you want to get ahead financially, it takes sacrifice.
We go through our whole lives with people trying to convince us to buy this and that and while we will all be influenced by advertising to some extent no matter what it feels much better to at least try and make a conscious decision about where you spend your money. Most people just spend their money aimlessly without realizing why and it's honestly silly. It takes sacrifice and discipline, but learning to live through a budget is honestly the smartest way to go.
I think it's awesome you made this thread and I hope everyone reads it! Who knows how different the world be if everyone spent their money wisely...
“Love is the only bow on Life’s dark cloud. It is the morning and the evening star. It shines upon the babe, and sheds its radiance on the quiet tomb. It is the mother of art, inspirer of poet, patriot and philosopher.
It is the air and light of every heart – builder of every home, kindler of every fire on every hearth. It was the first to dream of immortality. It fills the world with melody – for music is the voice of love.
Love is the magician, the enchanter, that changes worthless things to Joy, and makes royal kings and queens of common clay. It is the perfume of that wondrous flower, the heart, and without that sacred passion, that divine swoon, we are less than beasts; but with it, earth is heaven, and we are gods.” - Robert. G. Ingersoll
It is the air and light of every heart – builder of every home, kindler of every fire on every hearth. It was the first to dream of immortality. It fills the world with melody – for music is the voice of love.
Love is the magician, the enchanter, that changes worthless things to Joy, and makes royal kings and queens of common clay. It is the perfume of that wondrous flower, the heart, and without that sacred passion, that divine swoon, we are less than beasts; but with it, earth is heaven, and we are gods.” - Robert. G. Ingersoll
