For young people who are first entering the workforce, saving money can seem quite daunting. Although you are earning money for the first time, there are immediate demands on that money – clothes, commuting costs, food, rent, etc. It is hard enough to earn enough to cover your expenses, much less have anything left over.
The advice that J. D. Roth, blogger at Get Rich Slowly, recently had for a 21-year old who wrote him with this worry can help. He breaks down spending into two buckets. You can either spend now, or spend later. The spend later bucket is another way of saying save the money.
If you save now, you will have more money to spend in the future – whatever that money will be spent on. Read his full response here.