Essay on Student: Single Person and Ric Edelman

Submitted By letap28
Words: 880
Pages: 4

Money, it’s involved with everything, which is why you can never have enough of it; this is what I really believe in because it’s actually true. Now, in general, money is not a primary need for human being to survive even though, money is also plays a huge role in our daily life. However, the big issue is not what costs money, its how people spend their money.
Sometimes people earn a lot of money at one time and think that it will last them for the rest of their life, or the rest of the year. At these times we forget what is important and go on a massive spending spree. Before you know it, you’ve spent all your money and realize you still need more. I had an experience like this and that helped me to recognize the importance of saving money in my future life. On my 18th birthday, I had gained a large amount of money from my family and friends. The total estimate was around thousand dollars. At that time, I felt like I am a millionaire and never run out of my money. Throughout the rest of the week, I started spending my money for buying music, games, and some other useless junk, but that would only entertained me for about a week. After spending all of my money, I realized that I forgot about what I needed most, gas money. Finally, I ended up with borrow from my sister. Now, I had never seen this much money together since that. Anyway, from that experience I realized that I would save some money at least for my gas. Now I always have enough gas money with me and I think that incident really helped me to have a habit of saving some money rather than spending completely.
I am a single person, and I never think much deep about saving money for tomorrow. Ric Edelman mentioned, “Many think that financial planning is not important for singles because they only have to worry about themselves -- there’s no spouse or children to consider. But in fact, it’s the absence of immediate family that makes it even more imperative for singles to engage in comprehensive planning.” I totally agree with his opinion because, my mentality was exactly same like he said, but after that event, I tried to control myself. The fancy attractive world around us would make people to spend more money than they earned. Ever since that day I would always watch over my money, making sure I saved enough or whatever else was important. As Ric Edelman talked about tomorrow, who knows what is going to happen the very next day. He said “Suppose I end up in the hospital for several days or even weeks. Who will collect my mail, pay my bills, and take care of my cat?” The answer for that is ‘no one’. People would not realize that until something happened similar to that. However, even after going through my little experience, I still have hard time to save my money and spend for right needs. Sometimes I really forget to spend enough for significant things and spend more than enough for trivial things.
It is so hard to make a control over spending too much in this world. It is very essential for single person…