Edgar H. – Lakewood High School

Money Saving & the Future

Often we are flustered with the idea of money as it has been an essential part of our life ever since we could count. Most of the time money is spent to buy necessities and the things we want to have, but so little is saved. This is the reality for the majority of young people who can’t seem to save because of so many desires they have. In my case the lessons I have grown up with and the new found ideas presented by the Think.Tank.Challenge have helped me save up money over time for long term goals or for big desires. My choices with money have helped me be able to develop a consciousness of my spending, a format to save money for goals, and most recently fund my own company.

Majority of us forget how much we spend or don’t really give much attention to receipts because often we tend to know how much we are spending. When shopping I often find myself spending and not really remembering how it all is adding up until I get a chance to see my bank account. That was how I used to be, but with the implementation of certain ideas over the years I have been able to have conscious memory of how much 1 am spending. “It’s not how much money you make, but how much money you keep,” this was a quote said during the presentation that resonated with me because of my shopping habits. I tend to make a pretty good amount and that leads me to spend without stinginess of my money, but by adding this idea to my spending it changes the game completely. I am more often finding myself looking at how much I have spent and on what in order to make my money reach longer and that way I can save more over time.

Moving on to the challenging topic of how to save money, this is very hard for us young people because we require a lot of things or want a lot. As l am I like to spend but saving brings a feeling of success and appreciation for how you earn it. The moment one opens their bank account and sees that they have a high amount of money in their savings is a feeling of accomplishment. Saving for the future is a gift for you but one must work towards it by sacrificing spending. In order to sacrifice spending once again the main idea to be implemented like I did is that, “we spend what is left after saving instead of saving what is left after spending.” This is a format that truly works in the short term and long term, as is proven by the effects it has had on my life as soon is to be described.

In the winter of 2016 I was able to begin my own brand of clothes with little savings that had been building up by using these ideas to reach my goals. I began with as little as fifty dollars and have been able to profit tremendously over the last four months. The lessons I implemented into my lifestyle were able to work rapidly in order to help me reach goals I had set for myself a long time ago. To this day J am proud to say that out of every shirt sold a profit is saved up immediately for future use for my education, business, or even necessities. Saving money for the future can seem like a hassle because as teens often we spend money the moment it reaches our hand. However, applying some restraint can truly change the future for many of us and it should be something many of us should try.