8 Steps To Mastering Money So You Don’t Go Broke

In the consumerist society that we live in nowadays, we are constantly being tempted by advertisements and the best marketing strategies out there to tempt us to spend our money on foolish things. It’s hard to save money, after all, we are constantly showered with propaganda to spend all of it. What would be the best way to save? Below I will give you some advice based on what i learned in the School of Hard Knocks.

1. Save while you are young—afterwards it gets harder

He that is slow to wrath is of great understanding: but he that is hasty of spirit exalteth folly – Proverbs 14:29

Saving is the first and most important principle of having success with your money. John Jacob Astor once said that it cost him more to get his first thousand dollars than it did later on to get a hundred thousand; but if he had not saved that first thousand he might have died in an almshouse broke, sick, sad and alone.

When we are young and don’t have as many responsibilities as an adult, it’s way easier to accumulate wealth. As you grow older and have to pay bills or support an entire family, it gets harder. If you’re still living with your parents and not paying tuition, this is the best time to save your capital.

This is why I think it’s such a shame to see our youth recklessly spending all their earnings in futile things such as video games, electronics, gold diggers, or brand new cars. If only they knew it would be much harder to save later on in life, maybe they would be more careful with they dimes.  They should leave their desire to have the fanciest truck or biggest house for later on in life when ...

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