Everybody at least understands what saving is. Is a cliché which everybody knows but a few people practice this. Another thing is to start early enough and save.
When you talk about starting early enough what comes into everybody’s mind is usually from 20 years upwards. It has always been like that for time.
Saving begins when someone is probably done with college and starts working. If you ask anybody when savings should start? That is the response you are going to get. The reason is quite apparent.
However, someone did something outrageous, posted it on the web, and that caught much attention.
Essence Evans isn’t a financial expert, but what she posted on her Facebook timeline was geared towards teaching women what it means to be financially-wise.
I think that was limited; I shouldn’t be only for the women, is also a lesson for everybody who knows what one is.
“Every week she gets 7 dollars in allowance. But I explained to her that in the real world most people spend most of their paycheck on bills with little to spend on themselves.
So I make her give me 5 dollars back. $1 for rent $1 for water $1 for electricity $1 for cable and $1 for food. The other $2 she gets to save or do what she wants with.
Now, what she doesn’t know is the $5 is going away in her savings account which I will give back to her when she turns 18.
So if she decides to move out on her own, she will have $3,380 to start off. This strategy not only prepares your child for the real world. But when they see how much real bills are they will appreciate you for giving them a huge discount.
Share this on your timeline for another mother to see.”
