Saving Will Save You
Stress, frustration, and anger are feelings we don’t want in our life. Spending money recklessly can lead to debt and can make you feel this way. No one desires to go down that road. Everyone pictures themselves in the future having a fulfilled life with everything they can dream of. But that dream can shatter. The Think.Tank.Challenge had made me realize how simple it is to save money and how it can save one in life’s challenges.
The lesson opened my eyes and guided me to reflect my use on money. Every week I go to the store and buy two bags of chips. There isn’t a valid reason why I do, it just has become a habit costing me about $5 each week. Logically, if I were to save the money and put it into a banking account, not only will I be saving money for the future, it would also grow over time too. In a year, I would be wasting about $260. It may seem like a small amount of money, but saving it and letting the money grow will be worth it in the long run. The money I save instead of buying chips can be used for emergencies and myriads of issues. The lesson influenced me to save my money so I can be prepared for obstacles, such as an unexpected car repair. Saving money is something I can do now, and I don’t need to wait until I’m out of high school to start saving.
Hard times in life always come and they go. How often they come is a mystery but being prepared for them will help you in the long run. College is upon me fairly soon, but sitting around won’t help. By saving money, earning money, and applying for scholarships will help me pay off my tuition. However, the Think.Tank.Challenge taught me that if I don’t start soon, I may be graduating from college with a heavy burden of debt in my hands. Saving soon will help pay off debt quicker because I have money saved. On the other hand, not saving will make life more challenging and a struggle. In the far future, I personally would like to have an early retirement, but as of right now many millennials aren’t able to. Because they didn’t save early, or don’t have enough money to sustain themselves for retirement. The average living cost is $47,324 a year. For example, assuming you retire at age 60, you would need $473,240 to support yourself for 10 years. This money doesn’t come from thin air, but from savings. The lesson inspired me to start saving and spend my money wisely. Saving can’t hurt you, it can only benefit you.
The Think.Tank.Challenge believes that saving is almost like a cheat in life. Its workshop inspired me to look ahead and save for future occasions. Storing money for college, a new car, and emergencies are ways one can spend the money they save. If you don’t save, then what other way can help you be successful?