Today’s essay is by Chelsea York, a student at the University of Arizona. She shares how her mother taught her to create a budget that makes saving possible and how to invest in her future.
Throughout my whole childhood, my mother raised my brother and myself on her own. Whether her career in accounting led her to be gifted in the field of personal finance, or if it was from her own skills, I am grateful.
From a young age, my mother would always encourage me to compare prices whenever we went shopping together. It taught me that those that are the most expensive are not always the greatest.
Growing up, my brother and I were fortunate enough to receive a monthly allowance from our grandparents. With my mother’s help, I opened up a savings account and put a portion of my allowance into it every month.
At the beginning of each month I calculate how much I will need for whatever bills I might have, and make a higher estimate than normal for potential gas expenditure just to be on the safe side.