1. Resources Affect Choices
Money is important to your future and your peace of mind. Money can help pay for higher education, which opens the door to many career opportunities. Having money can prevent worry and stress about paying bills and having a safe place to live. Saving money can improve both your financial and emotional well-being. Having good habits with money can allow you to help your family in times of need and improve quality of life. Maintaining good financial habits can help you in three main ways.
- First, the jobs you have now and the money you make can influence your future. Even if you’re mowing lawns or filing papers, you’re learning skills like scheduling your time, working with people, and handling the money you earn. What you do with the money also affects your future. For example, if you save money and buy a reliable car, you can apply for jobs that require a commute. If you save money to pay for higher education, you open the door to careers that can give you a lifetime of greater satisfaction and higher income. If you’re disciplined about saving money, you’ll have more money for the fun things in life.
- Second, think about how you feel when you are out of money. Most of us feel anxious or nervous. Learning to save and manage your money can prevent or reduce stress. Think about how you would feel if you didn’t have the money needed to purchase a car, pay college tuition, pay rent, or make a mortgage payment on your home. You would feel anxious and frustrated, right? With sufficient resources, you will know that you have money for the things you need.
- Third, if you are able to build up extra money by saving and investing, you can share the wealth. People like to spend money on themselves and their families, but it feels good to give away money, too. Think of how much you enjoy giving a gift to someone you love. That same feeling is available when you have enough to feel comfortable sharing with people who may need your help or donating to a cause you support.
Can you remember any times that you wanted to buy something important but didn’t have enough money? You’d be quite unique if you can’t. If you had planned ahead, maybe you would have been able to purchase those items. And, that’s what we want you to begin to do – plan ahead more. Resist the urge to spend so much now, leaving more money available to do things that are more important to your future and to both your financial and mental well-being.
Using this table, think of just one example each of how you could influence your future, relieve stress, and share the wealth.
||How Would This Help?
|Influence My Future
||Example: Save and buy a reliable car.
||Example: Can commute better to job.
|Relieve My Stress
||Example: Save to make larger credit card payments.
||Example: Stop worrying about loss of credit.
|Consider Sharing My "Wealth"
||Example: Save and give to the Red Cross.
||Example: Feel I've helped people less fortunate than I am.