Saving or Spending that first paycheck? The big question on many people’s mind. Everybody loves to celebrate that first paycheck and go crazy. Lets make a 40 year jump to the future. Remember your first paycheck? Probably not. Got married, had kids, maybe changed jobs couple of times, had financial rollercoasters, had unforeseen expenses etc. This is life for many people. But anyway it is 40 years since your first paycheck. How is your financial situation. Are you well provided for in your retirement or do you rely on others or are you financially depending on your kids. Maybe being an estate agent helps you to survive? Retirement should be the time of your life. You are supposed to be enjoying all the seeds you have been sowing in the last 40 years. Most people don’t plan or cater for the future or plan for retirement. But one thing is fore sure most of us live longer lives due to medical advances and other factors. Wake up lets get back to the present and your first paycheck.
Saving for the future
How you decide to spend your first paycheck might be an indication of how well you will prepare your self for life after retirement. Saving for the future should be part of that first paycheck. It might sound boring and your friends might think you are a party pooper, but saving for the future and your retirement should be one of your first priorities when deciding how to spend your first paycheck. The earlier one gets in the habit of saving the better ones financial position will be in the future. Do you really want to dependant on your kids or try to make a living as a real estate agent when you are retired ?
Saving or Spending
Saving or spending it might be the biggest decision you make at a young age when all opportunities are wide open and the world seems up for grabs. You might have no worries about money at that time of your life. Maybe you still stay with your parents and pay no rent, you have no kids, no mortgage to pay. But when your living cost are low it might be the best time of your life to make an investment for your future.