*Money doesnt grow on trees*!!!!!!!!!! (Well technically it does since the pulp is used to make the paper which is used to make the money) I dare you to tell this to an infuriated parent who has to find money to pay for some fee or other for you. Good luck and its been real knowing you (whoever you are).
Since childhood, my parents have tried to instill the spirit of saving/conserving in me. I remember the many piggy banks etc. but the major financial decisions they made. I knew from early on that I had an investment portfolio and had no idea (and still to this day do not really have a hold on that) what that means. I just know it is a good thing and I plan to do the same for my kids as soon as they pop out. I am not sure I truly GRASP how important money is yet though.
Since childhood, my parents have tried to instill the spirit of saving/conserving in me. I remember the many piggy banks etc. but the major financial decisions they made. I knew from early on that I had an investment portfolio and had no idea (and still to this day do not really have a hold on that) what that means. I just know it is a good thing and I plan to do the same for my kids as soon as they pop out. I am not sure I truly GRASP how important money is yet though.
How much do we as a generation know and value investments? Lets be honest, in the credit society most of us find ourselves in, it is highly unusual to find average people who are living without some sort of debt, student loan, credit card etc. In that kind of society, where do you honestly expect people to find money to invest? It is even a big feat in such societies to have a savings account.
I was reading an article on student loans in America yesterday where one guy talked about being 52 and being about 150,000 still in debt. He didnt expect to dent that amount by the time of his death thanks to the interest that such a debt would accrue. Our parents generation of working hard, saving and investing seems to be a thing of the past. People have lost faith in the big companies they used to "blindly" trust their money to and thanks to the recession, there is no money to "trust" anyways. By the time you are done paying for you, there is nothing left!!!
So lets not even talk about investments and look at debt instead. I feel that the attitudes that we have learned as a generation also plays a role in how we spend/save our money. Ours seems to be a society of credit instant gratification where people feel like if they want it bad enough, they can put it on the credit card and worry about it later. I heard many a story of young graduates who were hired before the recession hit and were living their lives as if they had seen the money from the jobs and then got fired (or let go). Where do you find the money then to pay for everything you put on credit thinking you would work and pay back?
So lets not even talk about investments and look at debt instead. I feel that the attitudes that we have learned as a generation also plays a role in how we spend/save our money. Ours seems to be a society of credit instant gratification where people feel like if they want it bad enough, they can put it on the credit card and worry about it later. I heard many a story of young graduates who were hired before the recession hit and were living their lives as if they had seen the money from the jobs and then got fired (or let go). Where do you find the money then to pay for everything you put on credit thinking you would work and pay back?
I have lived that life too, counting my chickens before they were hatched and spending money I didnt have believing and willing this money to show up some way some how. Though I learned a lot from being in debt, it is something I do not wish on anyone else and something I hope I can spare my children from going through because the anguish of owing someone (who is intent on harassing you to collect) is not worth it.
I know better now( I think), even though I do the sporadic spending on people I like because I think they would like something or the other, now I do it with my money in mind. Yes maybe my boyfriend would really love a Harley or a new car, can I afford to get one for him? No...should I try to get one for him? No I cannot afford it, its that simple. I want this latest bcbg bandage skirt which has been reduced from $550 to $50, can I afford it right now? No, should I put it on credit No because it is not a necessity.
I am trying to stop with my impulsiveness and think long term in terms of my spending and saving. Unlike most people I am in a very fortunate place where I do not have student loans and loads and loads of credit card bills to worry about. I need to stop thinking of the now and focus more on the later, but this is also a work in progress :)..do you save? do you have any investments? do you truly know the worth of money or like me are you a true money understanding virgin?
A penny here, and a dollar there, placed at interest, goes on accumulating, and in this way the desired result is attained. It requires some training, perhaps, to accomplish this economy, but when once used to it, you will find there is more satisfaction in rational saving than in irrational spending. ~ The Art of Money Getting, by P. T. Barnum
No comments:
Post a Comment