If you are just starting out on your own it is a perfect time to start saving money. The American Institute of CPAs and the Ad Council created this Infographic as part of the national public service campaign, Feed the Pig, which was created to encourage 25-34 year olds to make saving money a part of their daily lives.
When we are young saving sounds like a waste of time, better to spend the money right now. Some do manage to save if it’s with a goal in mind – a car or wedding for example – but few will just save as such. Sadly the modern philosophy is “why save when a purchase can be made on a credit card and paid for over a period of time?”
The infographic should have mentioned alcohol as one of the biggest money sucks.
I know I can’t look back and hold on to the past but MAN I SHOULD HAVE SAVED differently and danced less.
No point in dwelling on the past Jai but we can learn from it!
Gosh when I was of that age group I wasn’t earning much back in my country.
I love how the infographic says, “Maybe you can afford everything, just not at the same time.”
Great advice!
When we are young we tend to comparewhat we do with what others do. Chosing the right people to be friend with dertermaine if you are able to save or not save at this age.
Peer pressure can influence anyone but ultimately we all have control over our own spending decisions.