This week in Business class I have been reading short stories from The Richest Man in Babylon by George Samuel Clason. The book comprises of many short stories with lessons on how to save and gain money. One of the stories I read this week focused on saving 10% of your income. In this essay I am going to talk about what I would have to give up if I wanted to do this.
At the moment, I do not have a stable income, unless you count birthdays and holidays. By the time I have a stable income from a job I will probably be 15 or 16 years old, and my financial expenses will have probably changed. But since I do not know what the future will hold, I will talk about what I will have to give up now to save 10% of my income.
Usually, I do not spend my money on clothes or jewellery, but on meals or snacks when I go out with friends. It is only recently that I have been spending more money on books and ‘trinkets.’ Honestly, I cannot think of many things I would need to give up. Perhaps cutting back on the amount of snacks I get while I am out and prohibiting myself from being in the same mall as a bookstore so I do not get tempted to go in (yes, I have a problem. No, I do not intend on fixing it).
I do not spend much money on a regular basis, so I think saving 10% of my income will not be too challenging. I will need to do something about my book buying addiction though…
Thanks for reading!