Investing in the Right Things
Expensive cars, huge houses, nice watches, and money are all materialistic things that anyone can have. You can be driving down a nice sunset along the coast side, and BOOM — you get into a car crash and your car is ruined. You worked all those hours to buy a nice car, and in a matter of minutes you see it disappear in front of your eyes. If you have insurance, I’m sure you could fix it, but the moral here is that investing in things isn’t always the best way to spend your money.
You can show off everything you have, but listening to a story is ten times more powerful than looking at a Ferrari.
When you were young, did your parents ever take you to Disney World? Disney markets their park in a way that the experience is magical; it’s where dreams come true. People go to Disney World to have an unforgettable experience with their family. Yes, they may buy a souvenir to take along with them, but they are mainly paying for the experience, which you can’t trade for anything else.
This relates to how people should be investing their money. Experiences are once-in-a-lifetime. It’s something only you can feel. You may be able to share that feeling with others who are having that experience with you, but each experience is tailored to you as an individual, and that’s what makes it so special.
When it comes to everyday life, you need to buy necessities to live, but when it comes to going out to the bars every weekend, spending $20-$30 dollars on drinks — is it worth it? You could be saving that money and investing it in something that will help you grow as a person.
In college, that can be a difficult task to take on, especially when all of your friends are going out and having a fun time. So how should we save our money on things that are more valuable?
1. Stop Partying Every Weekend
There comes a time when it’s your friend’s birthday, and it’s okay to go out and celebrate with them. However, there are also those times when your friends just go out for no reason, just because they were bored at home. That could be a good way to pass time, but that usually also includes your wallet. Even if you tell yourself that you will only spend X amount of money that night, odds are you end up spending a bit more. You would be amazed at how much money you could save if you skip a few nights of partying.
2. Keep a Budget
College students have endless expenses that they need to pay off, such as tuition, textbooks, rent, electricity, gas if they have a car — and the list just goes on and on. It’s important to learn how to budget money accordingly so you pay all your expenses and save some money for yourself. Payday is the best day, because we get to treat ourselves, which is always good to do. But always make sure you have a set amount to spend before actually spending it. For example, if you were to go shopping, take the exact amount of cash you want to spend, instead of your credit card. This way you make sure you don’t dip into your budget by making impulse purchases.
3. Look at the Big Picture
We make small purchases every day, but they soon add up to a lot of money. If we take the money that we spend on alcohol, fast food, entertainment, and tally it up day by day, we could spend that extra money on a ticket to a great event. People love to travel, and if that’s one of your main goals in life, why waste your money on unnecessary items when you can save and take a great destination vacation? It’s all about looking at the big picture and seeing what else you can be investing in with the money you make.
These small steps have allowed me to save tons of money and invest in things that actually have benefited my life for the future. Money is used as a tool and it can buy great necessities to life a fulfilled life, but it can also buy you greater experiences than you may think.