UNITED STATES—Why don’t we as Americans plan more for our future? This is a worrying trend, but we need to understand that now is the time to save because with inflation and so many other things on the rise right now, this problem needs to be solved NOW and NOT later. The prices of goods do not fall, they rise and continue to rise.
Have you been to the grocery store? It’s so frustrating to see the price/cost of food these days. Frankly, it’s ridiculous, but we Americans keep spending like there’s no tomorrow, but guess what’s tomorrow. You might not be promised it (it’s something I think we all know all too well), but for most of us, we’ll see tomorrow and you want to be prepared for it. It’s time to start thinking about that 401K, that IRA, that savings account, stocks and bonds, investments, and so many other opportunities to save funds.
Money is a weird commodity because everyone wants it, and we’ll do almost anything to get more of it, but at the same time we find ways to spend it as fast as we get it. My parents have a saying, “That money burns a hole in your pocket.” It was a way of saying that I couldn’t stop spending the money I had, and as a child and young adult, I didn’t think about it at all.
However, as you get older and you begin to realize that there are things you want to achieve and accomplish, you realize that you need to do more and save more to have those things to live a sustainable life. Maintaining a home because there will always be unforeseen expenses that you will have to pay. You also have to worry about bills. As long as you live, you will always have bills to pay. They won’t just vanish and vanish into thin air. Can you reduce some of your bills? Absolutely, but they will always be there.
There’s no worse feeling than getting paid after a long week, two weeks, or a month of work and realizing it’s all gone because you spent a little more than you expected and now you’re flat after invoices have been paid. It’s not a good feeling at all in America, but it’s a direct result of you not saving a little money on the previous paycheck or the previous weeks you would NOT be in this situation. We didn’t think about the future, and because of that, you’re now in this weird pickle you hoped you wouldn’t be placed in in America.
So what can you do to change this mindset and stress? You set aside a little each week or each time you get paid. Ten percent is a decent amount, or all you can afford to hide from your take home pay is people’s earnings. When that money adds up, you are able to buy that big item you’ve been coveting and not worry about whether you have enough money. It also gives you the opportunity to understand the importance of delayed gratification versus instant gratification. We live in this world where we want everything to be fast and rushed.
Money teaches us a valuable lesson: patience is a virtue. Saving isn’t easy, but it has more long-term benefits than you might imagine.