Live For Today Statement??

Question

For a 1 page essay, I have to explain this statement

as LIVE FOR TODAY by Economically.

meaning .. To save for the furture and how ?

OR to not save young and live what with what you have until you start your future..

Answer 1

Your future starts every morning. And today not so long ago was the future. So if you are suffering today from lack of money, maybe it was from not saving yesterday or last week.

Many young people spend all their money on luxuries (clothes, going out, the newest gadgets) on the grounds that you have to enjpy yourself while you can, because after you get married and have kids and a mortgage you wont have one cent to spend on yourself.

They don't see it does not have to be that way---if they spent a little less today, their mortgage would be a lot smaller, as they'd have had a bigger deposit.

And if they give priority to luxuries today, how will they actually DO the tight budgeting and "going without" later? they've had no practice or experience at budgeting.

Saving does not have to be HUGE, but should be the first amount put away from a wage, then work out to live on the rest. Counting on the "leftovers" to go into savings won't work, as there will never be any left over.

The savings can be grown,for example by investing in shares, or going partners with somene else (maybe parents) to buy a cheap house to rent out (then the tenant makes most of the payments for you).

Many young people,by the time they marry, have credit card debts equal to nearly two years' wages. The kind of future they start for themselves is a h**l hole of non-stop worry about paying the bills.

So developing a habit of saving is building strong foundations for the future.

HTH