Video Games. New clothes. Booze. Movies and pizza. There’s plenty of stuff to spend your cash on, and you may find that money doesn’t go as far as you’d like. Plus, there’s the stress about buying that latest gadget and all the expenses that go along with it. And what about college? It’s not unusual for college students to begin worrying about how they are going to foot the bill for the many expenses that are on the horizon. The good news is that you can make a plan for your money that will keep financial stress to a minimum. That plan is called a savings program, and we’ve got good reasons why saving beats spending.
To understand the reason saving beats spending, you first have to understand that forming a savings plan for your cash will teach you how to get savvy with your bucks. Unfortunately, many people make it into adulthood without much information about how to manage their money, and before they know it, they are swimming in debt and living in constant fear that their finances could blow sky high at any moment. Have you ever seen anyone dealing with severe financial stress? It’s an intense experience to say the least. If you get wise to managing and saving your cash now, you will be on the road to sound money dealings by the time you land your first real job. Say goodbye to money stress and hello to financial freedom!
For most college students, a car is the first major purchase in their lives. Hey, you need wheels to get to school and to the movies on Friday night, right? But those wheels cost a lot of pretty pennies that you don’t have. The answer? You could beg and plead with Mom and Dad for the cash, but chances are your folks are just as strapped in this economy as everyone else. It’s time to learn to stand on your own two feet with a savings plan that will help you finance the wheels – and the insurance and gas that goes along with them. Saving for big purchases is a huge lesson for the rest of your life as you learn discipline, patience and brilliant money management skills.
Some say that money makes the world go around and others say it’s the root of all evil. The truth about why savings beats spending is that money is simply a tool – a means to an end, if you will. Use it wisely and save it responsibly, and it will reward you tenfold by meeting your needs and helping you prepare for a future of financial security.