Sometimes when I speak to certain people who seem to complain about money all the time they just happen to blurt out on how much they have in their entire savings. I would usually hear something along the lines on how last week they had so much money like say $500 in their savings and this week they would only have $50 because they bought some kind of hi tech gadget or went out dining. This always gets a reaction out of me as in my view for a young adult having only $500 in total should be an extreme warning sign that you need to start managing your money better or that $500 is an extremely low base standard to consider as a lot of money. To me, triple digit in funds is considered a lot for an elementary kid. <\/p>\n
For myself I kind of built my standards based on how much things cost during a particular age period and how much money I could realistically bring in. Now when you are a young kid I guess most people are the same as most of your money comes from gifts, presents or receiving an allowance from your parents. During that time I would receive about $10 every two weeks in allowance which means I would get $260 a year. Now obviously too as a kid expenses were virtually non existence as anything I would spend money on would be for entertainment or other unnecessary things like candy. What I would want to spend my money on mostly were transformer toys which ranged from $20 – $30 and video games which were about $40 – $70. On top of that, I enjoyed going to the arcades a lot and it was 25 cents per game credit back then. One thing that I learned fast as a kid, the feeling of having absolutely no money left was a horrible position to be in and that it was better to have something saved up as it drove me crazy when I couldn\u00e2\u20ac\u2122t say play that new arcade game because I had no money left. It\u00e2\u20ac\u2122s one thing to have the option to do so and another where it\u00e2\u20ac\u2122s that you can\u00e2\u20ac\u2122t do anything about it position.<\/p>\n
With these factors, as a kid what I would consider as a lot of saved up money would be figures within a four digit range like say $2000 as I could buy and do so much with that for a long time and plus I would still have the $260 a year coming in at minimum. I guess you can say that would be like a millionaire status type of feel\/position. Three digits was basically considered normal for me as I thought that having half of $260 would be the smart thing to have at minimum and that anything under that means that I am setting myself up to be in that can\u00e2\u20ac\u2122t do anything position again which I did not want. I wasn\u00e2\u20ac\u2122t actually able to save up a high four figure range back then, but that pretty much established my attitude and standards from then on in regards to money at a particular age to make sure that I won\u00e2\u20ac\u2122t be in a vulnerable position financially as I grew up. <\/p>\n
That philosophy has carried on for myself so far which has worked out great. When I was able to start working for the first time as a young teenager that standard went up as well where I then considered savings within a high five figure range to be a lot and four digits was the base standard. Now as a young adult, that standard again changed where a lot of money saved up would be within a high six figure range with a five figure range being the new base standard. Although I have an extremely long ways to go, I would expect it to be no different when I get to that early mid adult age range and by then seven figures would be considered normal and eight figures would be a lot. This type of thinking has worked for me personally and maybe it can for others as well.<\/p>\n
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Sometimes when I speak to certain people who seem to complain about money all the time they just happen to blurt out on how much they have in their entire savings. I would usually hear something along the lines on how last week they had so much money like say $500 in their savings and […]<\/p>\n","protected":false},"author":1,"featured_media":6884,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[5],"tags":[],"class_list":["post-196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-management"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/www.al6400.com\/blog\/wp-content\/uploads\/2015\/04\/924991_10264630.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6VnHC-3a","_links":{"self":[{"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/posts\/196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/comments?post=196"}],"version-history":[{"count":0,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/posts\/196\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/media\/6884"}],"wp:attachment":[{"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/media?parent=196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/categories?post=196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al6400.com\/blog\/wp-json\/wp\/v2\/tags?post=196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}