Self-control and saving money go hand in hand. However trying to save money without demonstrating self-control over your finances is next to impossible. Let’s face it, thousands upon thousands of people have no self control when it comes to spending money or saving it. It seems as if when we experience a windfall of extra cash in our hands the first thing we have to do is rush out and spend it.
Recently my daughter and her husband came into a $25,000 insurance settlement in one lump sum. Instead of thinking of the future and setting aside at least half of it for later in life they had the whole twenty five thousand spent in less than 30 days.
They bought a big screen TV, I’m talking about one that was 5 feet across and three and half feet deep. Then they purchased a 5.0 Mustang on time with a $5000.00 down payment and another new car with another $5000.00 payment. And then splurged the balance of what was left within 30 days of getting the check on some necessary things and not so necessary things. 90 days after that; guess what?
My son-in-law was laid off and 90 days later both cars were repossessed and the big TV was sold for less than half...
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