I saved up enough money for God of War III but I'm not going to buy it.

[nordlead]

Seece said:

Pipedream24 said:

That is the most untrue statement you could tell someone.  The earlier you begin saving money the better.  Compounding interest works to you advantage the longer you have it invested.  Once your in a position you should be investing 15% of your income for future use/retirement.  I'd much rather be 55 and comfortable then 70 and having to work at Mcdonalds because I pissed away my money. 

But you're missing out on GOW 3, I'm playing it right now and it is pretty awesome. 

 

Rubbish, by all means you should save when you have an actual job, I'm saying (clearly) saving now, 70 bucks means nothing, and will have absoloutely no impact on his life later on, heck even if he save for all his child hood, he'd come out with like 5k MAX. That again ... would be pretty much nothing in the grand scheme of things.

having 5k is a lot more important than having nothing. When he moves out rather than racking up CC debt he could pay for his own goods with cash. Or buy a used car + tax + insurance so he can get to his job. By all means you should learn to save as soon as you can count. Then you learn the true value of money rather than blowing it on unneeded luxuries. You don't go from spending every dollar you earn on luxuries to saving enough for retirement without some serious change in lifestyle. Even though I save from childhood I had my stretch of time where I spent every dollar I earned, and I regret it and I was working a "real job" then.

And I'm not saying don't buy a video game, but at least he realized that his money is valuable and he'll get minimal returns from the game. There are a lot cheaper ways to enjoy the game that don't involve spending every $ he earns.