The Importance Of Economics In My Life

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To start off Economics is basically the shortage of resources. The needs and wants we have are unlimited. Which means the things we want and need are endless and go on forever, but we don’t have endless money so we have to in a way find a balance. We have to find ways to satisfy our wants and needs with what the limited amount of resources we have, which in my case is money. We have to arrange are wants and needs to fit the amount of resources we have so we can make sure we are using them in the most efficient way. For example, if you don’t have unlimited money, then your income is limited so you can’t buy unlimited things. You have to choose what products are more efficient. If we had unlimited income, we would be able to fulfill all are wants …show more content…
Most people think athletes get so much money when in reality we don’t. I am expected to eat a certain way to remain healthy in order to run to my coaches expectations. Everyone knows that the healthiest food is the most expensive, most things that are unhealthy are cheap because you can get a McDonalds burger for $1 but a salad is almost $6 so I have to be smart with spending my money. I have to put a certain amount of money back so I have enough money to pay for the necessities I need such as, soap, laundry detergent, pads and etc. For example, I get a total of about $75 every two weeks sometimes more when track season starts. I have to make sure I have used part of the money to buy all my healthy groceries before I start using my money on junk stuff or I won’t have any food to eat. It’s really hard, but I had to be disciplined about it. It’s either I waste my money and not have any food or I make sure I get what I need first. Most times I have to use the whole $75 on my groceries because food doesn’t last me to …show more content…
I have a certain amount of money that I have to pay my phone bill, car note, put gas in my car, and food. My phone bill is $50 so I have to make sure I always put that aside or I won’t have a phone. My car isn’t a gas saver so I have to put at least $15-$20 in a week to be able to drive back and forth to class, practice, home on some weekends. My car note is $150, and I spend about $100 dollars a week in eating out. On average I get payed about $350 every two weeks at the most. That doesn’t leave me with much money to go shopping or go out with my friends because I have to satisfy my most important needs before I do anything else. If I don’t satisfy my most important needs, I will go without. I usually save both of my checks so at the end of the month I can make sure I’m spending things where they need to go. In a month I make $700 dollars so once I deduct all my expenses I have about $320 left which seems like a lot but it is not because even if I want to go out and shop, once I spend that all up I will not have any more money until I work another two

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