Do smart decisions about what you buy
I made a lot of mistakes in my life about debt. I only hope that I can come back in time to redo some of the spending decisions I made when I was young. Obviously it is impossible, but maybe this article will help young people who are going out and do things that they may regret in life
I remember when I was 26 years old and lived in San Francisco with three Roommate. It was a good time in my life and I had several great memories from this period. I am always a good money, but every time there will be something that will come over, I will do something, I will regret
When I was young, I saw this new in Circuit City TV (remember them?); I still remember the exact TV model. This is the Hitachi 61SWX10B, the price is $ 3,500. This is a rear projection TV, quite large; a 61 inch unit, there is a built-in stand
Of course I will not go out on the TV that point in my life, so much money But when i heard i could go out and get a new credit card with no money for 6 months financing i think ok i could make that happen. My plan is to take $ 500 a month and then $ 500 a month and i will get no interest on the TV
I executed my plan perfect, I was the big man in the house; all my roommates All like this TV is worth it all. Guests will come and tell me that this is the best TV they've ever seen and I ate it. We watch movies, play video games, sporting events, we all like it.
About a year later, our lives have changed, we have gone a separate way. Then it hit me, I'm now stuck to move this big tv and move it to my new place where the burden is a hassle. All my previous roommates can enjoy my great awesome TV for free, they just go on. I was stuck in a $ 3,500 bill and now moved to a place where I could hardly accommodate the size of a TV
It turns out that the plasma TV in the next few years came out and my super mac – TV looks very old. Within four years after my purchase, projection TV is no longer needed. I can not even sell it because of its big size, so when I move I just posted free ads on Craigslist. Obviously, I gave it to the first person of interest, rather than trying to deal with some big and heavy, no value of things.
I just bought a $ 500 TV, which is perfectly reasonable, is already a good TV, or investigating Craigslist and buying some better deals. But unfortunately, like most people may be relevant, I had to get the largest and best products on the market. In retrospect, I realized that it was a very bad decision
Obviously not the end of the world, it is now 41 if I would not buy this $ 500 TV, invest another $ 3,000 today Will be over $ 20,000 in another 20 years and it will be close to $ 200,000
These are typical decisions made by everyone, especially for young societies, not necessarily bad decisions, but absolutely irresponsible The We have done it because we actually do not take into account the long-term effects of our purchase.
The key is to cut, save and invest. It may seem like you did not build too much in a few months or even a year, but in ten years or two years of continuous savings can produce dramatic declines. Do you want to give yourself 20 things your latest electronic product, or do you want to give you 40 self a better and easier life?