By Kristy
My grandparents have always been huge
inspirations to me. From how they raised their family, how they stay in shape
at the prime ages of 73 and 76 and how they can save money. They both started
with nothing, and now have lives that they never dreamed on having, and I
praise them for that.
As soon as my grandparents married at
17 and 19, they began to save money right away. My grandfather was always
concerned that his family wouldn’t have an emergency fund, so he saved as much
as he could. Having an emergency fund was something my grandfather told me was
extremely important to have. One day, you could lose all the money you have.
Having an emergency fund would help you somewhat remain on your feet.
When you get your first job, my
grandmother told me is the perfect time to start saving. Of course, it’s
tempting to spend your first few paychecks, because there’s money in the bank
that is now yours to spend. But, my grandmother told me to start saving even
from the first paycheck. When you start to save right away, it won’t be hard to
do later on.
The way my grandparents saved their
money the best was to have a payroll deduction if you have the option. That
means that on your paycheck, an amount of pay is taken out and deposited into
your bank account. They also said that having a savings account is important,
as long as you don’t touch it. If you spend it, it defeats the purpose of a
savings account.
I asked my grandparents what advice
they could give someone my age on saving money. They said that saving some of
your weekly/biweekly paycheck is extremely important, and to never spend more
than what you earn.
Because of saving money, my
grandparents went from having little to having a fair amount. They can take
trips, they live in a home and they can afford extra things because they saved
money.
