Income Overtime

I don’t personally have a continuous stream of income but I am going to give an example of what it would be like if I got $25 a week for 6 months.

So if I started a job this month that paid me $25 a week at first it wouldn’t seem like much but me being the person I am, I would save it up. So the cash would sooner or later start piling up. For one month I would be receiving $100. So that means that I would get $100 a month. Of course there would be taxes involved but that’s just a rounded estimate. If I saved every penny I earned for 6 months I would end up having $600! That’s a lot compared to the $25 I received on my first week of the job.

Basically, in order to become successful with your money is to have patience. Trust me, I don’t have a ton of patience but when I handle money (personally) it’s different. I’m most likely always going to be saving up for something. Like right now, even though I don’t have constant income, I’m saving up for a camera. Luckily I just reached my goal and I will be purchasing that soon. But it doesn’t happen that quickly. It took me a whole year to save up for the high end camera I wanted. That’s not even that long compared to other higher priced things that you’ll save up for in the future (like a car for example). So you HAVE to have some sort of patience. There was times during that year that I wanted the camera pronto but I had to keep reminding myself that I will get there…..Just not with a snap of my fingers.

Going back to the job example. I think if someone was getting $25 a week and was spending the cash right when they got it in their hands they would be very unsuccessful. How are you going to get anywhere if you’re spending all your money right away? It would be extremely bad if you were buying things that you want all the time. Want is different than need. If you want to buy a new video game but you have to get a new textbook for school, DON’T buy the video game! You’ll buy the video game and end up having to save more money to purchase the thing that you needed. I’m not saying don’t get anything that pleasures you but don’t do it on an everyday basis.

I know that when I become old enough to get a job I am going to do the best I can to save up instead of burning a hole through my pocket.