There are many reasons on why saving and budgeting is great to have. Knowing how to finance money is important and many people don 't know how to begin or when. In the book, Personal Finance for teenagers and college students By Tamsen Butler the author explains many ways to create a personal finance. This book is recommended for everyone but mostly concentrates in teenagers and college students. Throughout the book the reader can gain more knowledge on maintaining a budget they wish or a savings account to start and so much more. The book is made up of 12 chapters, and in each chapter it consists of examples on the topic of the chapter. This book gives many advices on how to avoid and prevent financial errors like debts and late payments or
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Butler suggests, “You are supposed to buy things you need and wait to buy the things you want until you can afford to make the purchase” (34). One thing I can do is to start asking myself everyday when I go shopping if what I will buy is a need or a want. Second, I will use the envelope strategy since I found out how much I waste each month my keeping a spending log and start cutting down on my expenses. I will also have to budget myself to a certain money to spend every day, maybe $5 a day to get myself a snack and a drink. By the looks of it now I will need to cut down on going out to eat like Subway and other fast foods. I will need to prepare myself homemade lunch to take to school. When I go shopping I will not take a person with me that doesn’t know how to spend their money wisely. The reason for that is because it won’t help me actually think through if it’s what I want or what I need. Once I get through cutting down my expenses I have accomplished to budget and save for my …show more content…
My car wont take much t ofind because im looking forward to having a preowned car. That reduces the price from $15,000 to $10,000. I know my current financial situation is great because I am unemployed and I will start looking for one soon. My short term goal is to look for a job before the end of the year of 2015 so I can start saving for my car in the year 2016. I will apply more of these helpful strategies than the two I mentioned in my life after I get myself a job. I predict with my short term goal and the strategies I will use I will have my car in 2019 most likely. I recommend this book to all college and high school students because that’s when a habit of spending comes from and it’s hard to get yourself out of it. The lesson I learned is that it might be difficult to change my routine, but it will create a successful
Butler suggests, “You are supposed to buy things you need and wait to buy the things you want until you can afford to make the purchase” (34). One thing I can do is to start asking myself everyday when I go shopping if what I will buy is a need or a want. Second, I will use the envelope strategy since I found out how much I waste each month my keeping a spending log and start cutting down on my expenses. I will also have to budget myself to a certain money to spend every day, maybe $5 a day to get myself a snack and a drink. By the looks of it now I will need to cut down on going out to eat like Subway and other fast foods. I will need to prepare myself homemade lunch to take to school. When I go shopping I will not take a person with me that doesn’t know how to spend their money wisely. The reason for that is because it won’t help me actually think through if it’s what I want or what I need. Once I get through cutting down my expenses I have accomplished to budget and save for my …show more content…
My car wont take much t ofind because im looking forward to having a preowned car. That reduces the price from $15,000 to $10,000. I know my current financial situation is great because I am unemployed and I will start looking for one soon. My short term goal is to look for a job before the end of the year of 2015 so I can start saving for my car in the year 2016. I will apply more of these helpful strategies than the two I mentioned in my life after I get myself a job. I predict with my short term goal and the strategies I will use I will have my car in 2019 most likely. I recommend this book to all college and high school students because that’s when a habit of spending comes from and it’s hard to get yourself out of it. The lesson I learned is that it might be difficult to change my routine, but it will create a successful