Miles B. – Gilbert High School


Many people believe that they will die early, as did Bangambiki Habyarimana, who said, “I used to say why save money if I’ll die tomorrow, I haven’t died yet and I have nothing to survive on.” Decisions with money will greatly impact its holder’s future, so you could choose to save money or not to, but I choose to make sound financial decisions. These sound financial decisions will ensure that I will be able to live the lifestyle I want and be free of money worries.

One way that I can save money for the future is by using budgeting apps, which can be found on my cell phone. I will use the budgeting apps to calculate how much I will spend on bills and how much money will be left over. These apps enable me to calculate my fixed cost like rent or a car payment. I am also able to calculate my variable costs, for example dinner, or for a shopping trip. I will personally use it to calculate how much spending money I would have after paying rent and a car payment.

Another way to save is to set up automatic transfers to a savings account. If I know approximately how much I make each paycheck, then I could set up a certain amount to be transferred over to my savings account. By setting up a savings account I could prepare for a financial disaster, such as the loss of a job or a personal injury. I could also use that money for my wants as well. However, I personally would use the usefulness of the saving account as a college fund.

Another way that I could save money is to avoid overdrawing my bank account. If I overdraw there is a possibility of a fee that I will have to pay. I won’t be able to save money if I’m constantly paying overdraft fees.

If I set long term goals while I am young, I’ll be able to accomplish my goals quicker. Let’s say that I have a long term goal of buying my own home, I’ll start saving now and having a better chance of affording my dream home. Since I’ll be starting considerably early, I could also build up my credit to add to my chance of owning my dream home. I could also use the system of setting long term saving goals on pleasure things like a vacation.

That is why it is important to save money now, so I could enjoy my life in the future. By slowly saving money by using a budgeting application to organize my expenses I will have some spending money left over. I can add the money that I saved to the money that I have saved in my savings account by setting up automatic transfers. Also by doing that I can achieve my long term goals faster, just by saving a little every day I will thank myself later in life. I’ve made up my mind, and I will choose to save money. What will you choose to do?