When I was in high school I took a Home-Economics class, which taught me all about budgeting a bank account. However, as I grew up, I realized that it wasn’t as easy as it seemed. I went out on my own, and realization set in. If I wanted something, I would have to save for it. My ‘job’ money wasn’t the same as ‘chore ‘money growing up. I had real bills to pay, so if I wanted a special shirt, I had to pay for it.
Next, the credit cards came flowing in through the mail. I was able to keep everything current (bills, credit cards, etc.) until one day, car problems happened, and I didn’t have a savings because I wanted the “right now”. Oh the things you learn as you mature. I ended up having to use those credit cards, I never should have gotten, for real needs because I didn’t put money back. I ended up in a situation of needing help with debt management.
Luckily for me I wasn’t too far in, so there was an end in sight. However, I did need help keeping a float. I went with a local credit counseling agency and they really helped me get back on track, and I have been in a better place since then. It made me realize an important lesson that I want to really pour into my kids….
It’s nice to have what you want when you want it, but it’s not always best to do that. You have to work for what you want and having a backup (or savings) is much more important than the want you have right now. Save first and get later. Now I budget and get extras when we can, and it really does make it much sweeter!
*This post made possible by Joe Restivo. Thoughts are my own. For more information please see my disclosure