Learning to Save
Benjamin Franklin said, “Beware of little expenses; a small leak will sink a great ship.” How good are you at detecting and plugging those leaks?
CNBC has a new digital series entitled “Saved,” starring CNBC anchor Dom Chu and comedian Carly Ann Filbin. A young man, called Christian, is the main character. His take-home pay is $3,500 a month and doesn’t know how to budget. He’s carried $93,000 of student debt for 10 years and hasn’t started making payments!
He admits he’s addicted to Seamless – a mobile app that provides food delivery from restaurants and caterers. As a result, he spends $40 a day on take-out food. That adds up to a whopping $15,000 a year.
He spends more on subway cards and Uber rides, bar tabs, dates and well, you get the picture. Enter CNBC with their financial help.
“Saved” looks at Christian’s personal finances and helps him set goals toward paying down his debt and living on his own. They encourage him to establish good habits – with disciplined spending and meal planning. He’s told to take care of his finances while in his less than ideal circumstances, so he can thrive when things change.
Hopefully the series will offer real help to those who desperately need to learn how to handle their finances, although I doubt tithing will be mentioned – or the joy of giving.
But learning to save is indeed a start! As Proverbs 21:20 says, “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.” May we all seek to live wisely!
If you need to work on any area of your finances – maybe plugging those little leaks – download the Money Map. It’s a comprehensive guide to financial freedom and will help you walk through each step to get there.