I am often at war with myself when it comes to my finances- something the average 18 year old probably shouldn't think about. I constantly think, "Should I reinvest this? Save for the upcoming college season? Buy a better car?" when I think about buying things. Even a simple cheeseburger from McDonald's can add up over time. The worst part is girlfriends and hobbies, such as guitar playing. Between the two, I can easily spend $100-$200+ a month. What do you guys do with the guilt of spending profit money on pleasure? Or is it even existent with you? Do share your stories!
Profit & pleasure, I like investment,and i like to save money to invest stocks,or books.that will bring me profit with pleasure .When i own enough money,i would like to buy a good car or something like that,but not right now.
A month ago today I got my driver's license, so I've been going out almost every night with my friends. Since then I've spent $600 on petrol & food (mostly McDonalds) - it's painful seeing the money disappear, particularly considering that it could've been invested into site advertising which could've brought me a whole lot more in return.
I don't agree with you folks .. for me , I make money to spend that money,I don't like saving it or so.It's the beauty of money to be spent.
You should always reinvest a part of your earnings, save some of it and of course, don't forget to reward yourself by spending some for pleasure. --Joe
I spend a lot I don't do like you if i whant to relax and pleasure i'm do ing it no mather how mutch costs or if i can aford But evry month i put some money for savings
Realize that most people on this board (and in life) will not retire, because they can't afford it or they will retire in a state of poorness. You should be taking at least a small portion of your earnings and letting it work for you. Even $100 a month will make a difference in your 40s and 50s. I know, it's hard to imagine. When I was younger, I would spend money like crazy. I'd go on a vacation and drop 20k (all cash). I'd spend thousands on computer stuff. I'd hit Best Buy almost daily looking for something else to buy (think I had a 3-5k a month habit there at one point). But you know what? That stuff wears down and dies off. What if I were to take just 100k more ten years ago and put it in an investment portfolio, what would it be worth today? At some point, if you're lucky, you'll realize that all the low-level crap most people buy and have isn't worth your money. I can walk out of my home right now and drop thousands on the latest TV. So, what do I have? A 36-inch regular TV that I bought 3 years ago. It's a JVC. It works and it didn't cost me much (about $500 on sale). When all my friends (when I was younger) were heading off to jobs, I was getting dressed for my Tee Time. At some point, you need to sit down and ask yourself just what's important. Today, I'm tighter than anything with my money and I still enjoy life. One of the things that changed me was Warren Buffet. He has a few more bucks than me (ahahaha). If you know about him, you know how much he has. Yet, he isn't flashy. He doesn't have the latest and greatest of everything and he enjoys life. I'm sure you can find a way to put even $100 away. And no, not for a rainy day. Put it away for a better life. You're young. Take risks. You just might turn a little bit of money into a bunch of money. Whatever you do, don't put your money in a crappy savings account unless it's very temporary. Make your money work. Pay yourself first. You've heard it over and over. It doesn't mean go out to the movies, buy music and so forth. It means taking a % of your earnings and investing it, so your money makes you money. Good luck!