In life sometimes, you can’t control your finances because of a whole lot of things like the lack of a job or you just spend to much. When I was 18 years old I had almost $20K my living expenses where a cell phone that was a Nextel that had a broken antenna.
Controlling your finances isn’t always fun
Not to fun with a broken phone but life goes on. I am now wishing I did a lot more with the money that I had and invested in things that would pay off and no a car wasn’t one of those things. Maybe should have played in the stock market a bit but really had no interested in that.
I did however, buy up some website real estate at the time but did just as a “hobby” nothing to serious I went to college got my degrees and started turning my hobby into a career not that I didn’t have a love for websites but didn’t know how to make good money but still made a little but wish I made more at 22 years old.
The moral of the short story I just told is know what you can control with your finances and you will be happier. Not that I’m not happy but I could have made better decisions with the cash I did have and be better off for it.
Keeping track of your money for purchases
Money is a funny thing you have a lot of it and you buy a new car when you should have just looked at pre-oowned cars or you bought a beach house for two people when you could have just bought a beach condo.
Knowing how to control your cash and how it flows is the real power of being an adult. Saving money for retirement is smart but we all don’t do it and we need to think of it now not when were in our 60’s and working as a greeter to keep the lights on.
Used cars can be the way to go there a lot cheaper and still do the same thing as a new car but a little older.
See if you have kids I think your saving for them and yourself a little bit but mostly for them to have a chance at school or buying that used car.
You don’t need the sports car at 76 years old to roll up to a two bedroom condo but you might need to use that money for a grand kid or two.
The key to financial success is having enough money to live on when your retired and that all depends on what your doing right now to save for that.