Last Updated on Apr 8, 2020 by James W
Have you ever asked yourself how life would look like if you had some savings put aside from the very beginning? Would you like to know from now if it might be a good choice or, rather, a bad one? Well, believe it or not, things are quite simple once you know how to look at the entire situation. Nowadays, putting money aside provides anyone with a great kick start – either at 20, 30 or even 40 years old. Still, making this choice requires time and a good understanding of the consequences. These being said, in case you are looking forward to knowing more concerning the subject, make sure to stick with us and keep an eye onto the following lines in order to see whether or not is it a good idea to save in your 20s!
- Make the Calculations
The first thing you should do before making any choice is to design some calculations. Believe it or not, numbers will keep you motivated no matter what. Once you see that you have good numbers there, you will want to start saving as soon as possible. Let’s take for instance, a simple example – you have $100 per month ought to be considered as savings. If you multiply it by 12 months, you have $1,200 per year. Again, if you want to see how much you can make in 10 years, your result will be $12,000. Believe it or not, even though you might think that the outcome is not at all worth it, just think how would it feel to receive $12,000 right now, out of the blue – and you will get exactly what you need in order to motivate yourself.
- Think Of Your Priorities
Even though the future might not look as close as you think, in reality things are extremely different. To be quite honest and frank, whenever you are in your 20s, you never really realise how fast they manage to get you to your 30s. Basically, what we are trying to highlight in here is that time flies extremely fast when you least expect it. Instead, what you should do (in order not to be taken by surprise by various other stuff when they come) is to think of your priorities at 30 years old. If you think buying various stuff right now and investing all of your money on these kind of things will be useful for the long term, go ahead. On the other hand, if you think it twice and realise that there are some other aspects that might work on the long term better, start saving up and you will never regret.
- Do Not Stop Yourself From Doing What You Want
Regardless of how much you would like to save up in a lifetime, it is utterly important not to stop yourself from doing what you want. Believe it or not, each time you forbid yourself from doing something or spending your money on anything that you love, it is a wrong move. The idea behind is that achieving your greatest objective should not block you from satisfying your own desires. Still, the best alternative in here is to have an equilibrium, between the short term objectives and the long term ones. On the other hand, once you stop yourself from something, you will most definitely spend loads of hundreds of dollars some time after, when the thought that you managed to stop yourself from spending on something is a great reason for spending more right now – which, on a fast and simple calculation, will most definitely show you that you are wrong in so many ways..
- It is the Greatest Choice for Your Future
Many people say that saving up money now is not at all a good choice for the future, since money do not have the same power in 10 years and, on the other hand, it is not worth it not to spend your money on what you wish right now. If you ask them what would they do with a certain sum of money right now and if they want it, all of them would answer positively. Yet, they do not think the same about the future, because this would mean that they have to work in order to meet the outcome expected – which is not at all something appealing to most of us. Due to this aspect, starting to save up in your 20s will lead to the best and the greatest choice for your future, that you will never regret. These being said, what are you still waiting for? Have you already managed to make up your mind? Believe it or not, it is utterly important to make the first steps as soon as you can – since by this way, your dreams will come true.