Sunday, April 26, 2020

People tend to spend more money than what they make Essays

Out on the streets there are people well dressed and driving late model or imported cars. One might think that they have a high paying job in a good company. But odds are they are probably struggling financially like most people out there. People seem to spend more money than what they make. But there are methods for starting good financial habits at an early age. Buying a toddler their first piggy bank is an easy way to start. Another way is making kids earn their own money versus getting an allowance. It is also good to have teenagers pitch in for their cell phone bill or Internet usage. This way they won?t demand more than what could be given to them. One of the biggest concerns is that there isn?t enough education on finances. When high school students graduate they should be somewhat conscious on financial stability. Also a financial class should be added to the general requirements in college. Society doesn?t realize the importance of having money saved for an emergency. Not even banks have knowledge on how to manage a country?s economy. Most adults go into the real world without a clue on how to manage their finances. They often think that a credit card is used for buying anything they want. At time adults will be irresponsible by not paying their bills on time. People also make the mistake of getting extremely large loans that later cannot be paid off. Then when the day comes when they want to have a family, they don?t have anything to offer to their partners. The situation turns worst when their significant other likes to spend excessively. Some spouses are high maintenance and spend money they don?t have on cosmetic surgeries. They often buy name brand clothes, shoes and accessories they can?t afford. People also fall into the trend of wanting to own the latest technology, which is not cheap. Then they fall into debt, which eventually makes them file for bankruptcy. Though times are tough right now, it might be a good time to make a fresh start. From getting financially educated to changing their way of life. Maybe trying to invest now will help people so they can cash in later and spend without regrets. Thinking about their future would be a safe way to go.

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