Many parents didn’t teach this either.
As you know, I try to keep link-only blogs to a minimum. I was also considering doing a short series on personal finance. A simple plan, and so forth. This pretty much covers all the big points. READ THEM.
I’ve recently become fairly frugal. People ask me how I can do that? They want to spend the money they earn so they can enjoy it. If they weren’t earning money to enjoy it, then what’s the point of earning money. Well, they’re assuming that the money I put away gives me nothing in return. It gives me a sense of security (so rare in this world), and it will return me many fold later on. Often, those same people who tell me they want to enjoy their money then have trouble paying their bills and spend much, much, more of their time and energy worrying about financial matters.
A dollar I spend today could turn into 50 dollars down the road. In a sense, I’m stopping my older self from enjoying FIFTY dollars in relation to the one dollar I have today. That just isn’t fair, to me, and I use that make sure I stick to my plan. I don’t want to work the rest of my life. A thousand dollars saved and invested today will yield around 75-80 grand by the time I retire (investment period of 45 years). More money, yields more return. The earlier I start, the earlier I can retire and actually enjoy my money and my life.