By the time this credit card has a zero balance, this person may have forgotten what he or she bought seven years ago. Time is spent on distinguishing between needs and wants. What is a need to one person, is a want to another. The money spent on unneeded items could have gone toward savings. Steps taken to limit debt or reduce interest costs will mean more money in a person's pocket.
Time is money.
The earlier you start saving the more money you will have for emergencies, college education or retirement. Even for those whose goal isn't to become a millionaire or don't have the time or the money to reach it, it's important to have savings as a financial goal. Contact your county Cooperative Extension office . UNH Cooperative Extension programs and policies are consistent with pertinent Federal and State Laws and regulations on non-discrimination regarding race, color, religion, sex, age, national origin, sexual orientation, disability, veteran status, or marital status. UNH, U.S. Dept. of Agriculture, and New Hampshire counties cooperating.