We all approach personal finance differently. Some people like to have a certain amount of money in the bank. Others like to make sure they give a certain percentage to their favorite charities.
Myself, I always want to have a good amount in my savings account, be able to help others in need and still have enough money to not feel guilty when I buy a cup of coffee.
You may ask why a cup of coffee is important to me.
When I was in college, I used to love going to the corner coffee house and buying a cup of hot brew. I quickly rushed to the coffee house and went to the front counter. I ordered my coffee and gave the clerk my debit card.
She tried running the card through the machine but it came back declined. We both sat there in a shared awkward moment.
I will never forget that moment.
I was so embarrassed. I could not believe that I didn’t have enough money in my bank account to afford a cup of coffee. I left in a hurry to face the freezing cold with a tear running down my face.
After that experience, I made up my mind that I would never let myself get so broke that I could not even afford something simple as a cup of coffee.
It was a moment in humiliation that I never wanted to re-live again.
“You don’t want to end up in the cold
without enough money for a cup of coffee.”
That was one of my main changing points for my financial path.
I started to save every penny I had. I stopped the frivolous spending that led to my chronically overdrawn bank account. I began reading financial magazines and asking questions to people who knew more than me regarding money.
I began budgeting for the first time of my life and it made a huge difference with regards to my finances. It was not long before I was finally on the right path to saving and finally had control over my money.
People learn things in different ways, but I believe some of the best lessons are learned through the stories of other.
I would have never listened to someone that went through something like what I went through. It is the experience in this situation that teaches you the most. Take my example of what I went through and take care of your savings.
You do not ever want to end up in the cold without even enough money to get a cup of coffee. That is a situation that I never want to live through again and hopefully you will not have to experience either.
Photo source: fanpop.com.
Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.