Spending VS Saving

Do you owe a credit card?

Most likely you do.

As always, banks and credit card companies are eager and aggressive to increase their database credit card members. They offer free gifts and free annual fees. People sign them up.

Credit card is a convenience, a prestige for some. But it can cut people as well. It can result in big spending, and in some cases overspending. With the usual credit card interest rate at 24% annually, some people wound up in debt. Others end up bankrupted.

I guess it's human nature to love good food, good entertainment. How many people really thought about what's going to happen to them 20 years later? They can't see it. Most people care about now only. What they have now and what can they do with the money now.

Some says we can always plan later, let us enjoy now.
Some says let's live for today.
Some says I just don't have enough.

Planning should start now. Planning should be for the long term, not just for the short term. When you start planning financially, you feel that you have more control over your life. You know where you are heading. At least you have a direction.

Starting early also means that you can set aside a smaller amount of savings, and let it accumulate over the years. IF you start later, you will need to set aside a bigger amount of savings periodically in order to reach your desired amount of savings.

Your savings will come in handy in rainy days, when you retire, or even business opportunities.

Nobody regretted saving, only regretted spending.

Start saving today.