Hello, My name is Karen
I am a single mother of 3 beautiful children and what I have learned about finances is never over indulge. If you don't need it, don't buy it. You are always going to have bills, such as rent or mortgage, car payments, car insurance, food expenses, and so on. Don't take on more than you can handle. Limit credit cards to a minimum. We all know that you need to open a line of credit to build your credit so don't spend what you can't repay. If you want to establish good credit, use your credit card to buy the food you were going to purchase, then take that money you would have spent paying for your groceries and pay the credit card instead. This way you have not overspent and build excellent credit in the process. You don't want to dig yourself into debt; I have been there. It's hard to get out of and every time you make a $100 payment on a credit card you're paying back about $40 (if that). You end up paying more in the long run, and I don't know about you, but I work too damn hard to have nothing to show for it. This world is very materialistic. I fell into the trap of overspending and had to file bankruptcy, and I am still struggling. I had to start all over. It sucked. I try not to buy anything that is unnecessary. I am happy as long as we have a roof over our head, clothes on our backs and food on the table. I hope once I get my degree that I will be able to extend my spending a little, such as go on a vacation with my kids, or have extra money when they are in need. Learn from me don't build up debt. Don't buy things you can't pay for in 30 days. Don't depend on the lottery (many people think that gambling is the answer, it's not). Remember unfortunately things happen so put aside $5 or $10 each week or whatever you can because one day the car might break down. Think ahead and start saving. Debt can be depressing, and depression can be harmful to your health. I had a friend kill herself because she was so depressed about life and the financial debt she felt she could not get out of. Debt can cause so many problems between loved ones, friends, and with family. So don't hurt the ones you love by spending what you don't have. Money doesn't buy happiness. Love, compassion, friends and family is what makes life worth living.