Aside from using money for basic needs, money can also buy happiness by allowing one to buy time, live life to the fullest, and live freely without having to worries. First of all, money can buy you time, time is definite and stubborn, meaning that time time is constantly moving forwards and does not stop for anything. There is only so much of it, and no matter how long we complain about not having enough, it will never give us a 25 hour day even when we turn in our request for more time to finish a project before the deadline. According to an article in the Time magazine Dan Gilbert, Harvard University psychology professor said, “ Use your money to buy moments and not stuff, the key is to spend your money on experiences and not material things. Memories of people, places and activities, however, never get old.” Also to buy time means to use your money on things that will save
Even if you don’t lose your job, you may need to take a big step higher in your life or your career, like starting your own business. That extra cash stacked away will definitely be of great use. Continue to save and if you never used to saving before, you start doing that now! It is very
However, throughout money literacy, one learns that more money is never the solution. More money will lead to more expenses like for example when someone wins the lottery. The statistics show that 70% of the people who win the lottery end up declaring bankruptcy (Teresa Dixon Murray). The best solutions are: pay as soon as possible expenses like student, mortgage, auto, and credit card debts which are the biggest debts and average worker has. Try to stay loans free unless you find it imperative to have it because as Nathan W. Morris once said: “Every time you borrow money, you're robbing your future self.” You may be happy with what you just bought with the loan but you will have to spend your future paying for it.
Whether a family is starting a family or growing one, money for the future needs to be set aside. Though that many years seems like a lot a family needs to plan for all of that. The expense of having children is a very fast way to drop under the poverty level. Knowing how much time you have to save money for children is given to you with the pill. In order to stay above poverty, you must save money for children with the money made from your job.
Introduction “If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.” Brigham Young, JD 11:201 I believe Brigham Young is very correct here when he says it takes a wise man to use that money to his advantage. I believe many people in this world today do not know how to properly use and invest their money. Many people even know what to do they just don’t know where to start. After reading Dave Ramsey’s: The Total Money Makeover, I learned ways to save and invest money that I never knew before.
The older generations got taught how to save money and how to live a college life that would make them get through college with a little less debt. Now if we give them free college they won’t know how debts work and how to coop with them. College debt can teach the younger generation how to save their money and spend it wisely instead of just spending it on the newest video game console that just came out etc. To bring this to a personal level my parents told me once I got a job that I need to start saving most of the money I earned for college since they didn’t want me to have as much debt as they did coming out of college (they are still paying it today). If they didn’t tell me that I might have just went off and spent it all on objects that I didn’t need and also now I know to save money even after college for things like a new car or house once I get to that stage in my life.
Global recession is an extended period where there is an economic decline all over the world. It affects millions to billions of people and it has hit the poor countries the hardest. Why does global recession matter, though? Global recession matters because it slows down the growth of the world and the people living in it. It also effects banks and creates higher numbers of unemployment.
If they don’t pay bills than they can end up being homeless, and if they can’t afford the food they can’t survive. This reminds me of an article I read on talkpoverty.com. They suggested that with the 170 billion in economic saving the government can pay for over 11 million jobs at a salary of $15,000 per year. I 100% agree with this idea. This can help save so many lives of people that are suffering from poverty.
So, if you have not got it, you cannot spend it. Decide in advance how much you can afford and get the cash out, and take nothing else with you and obviously no credit card. Clearly, you have you apply some self-control when deciding how much to take with you. By the time, you are already committed to staying within your budget. The biggest part of spending less without being miserable is to change your mindset.