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Saturday, May 24, 2014

Generation Y bother

I've talked to several people in my age group.

One thing that depresses me is that most of generation Y has no idea what they want out of life, where they are now, where they will be in 5 years, or how to get further in life.

A couple of my friends, when asked what they were up to, respond with "I'm just trying to get my life together."

Several of my friends have thousands of dollars in student debt. It is characteristic of most of generation Y.

I've seen people party and drink all weekend and do this for several weeks in a row. Most Americans probably don't even have at least $1,000 in savings.

I've thought that generation Y should try to set financial goals to find a purpose in life.

So I encourage as many of my peers to save up a large amount of money like $50,000.

Giving a man this goal will force him to evaluate his own situation. Find out how much money he currently has and how much debt he has.

He can take a look at his monthly expenses and see how much money he saves or loses each month.

At that point, he can start looking into the future. How long will it take him to achieve his goal of $20,000, $50,000, or $100,000.

This goal will encourage discipline and rigor. A man will look at his month expenses and see if there is anything he can cut out of his monthly expenses or find cheaper substitutes.

Finally, achieving this goal / working towards this goal will build up a man's self confidence and feeling of self worth.

Seeing your progress is encouragement. At $45,000, a man can buy a kilogram of gold. How many American's can say they can afford that?
But if you can, doesn't that make you feel special?

You made good decisions, you put in the hard work, you practiced discipline.

By God, you achieved something.

I'd figure, if a man can save $50,000, he has the ambition, desire, and will to accumulate larger sums of cash like $100,000 and further.

Read this, and see if you can make a plan to save up $50,000.

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