Being smart with money, what does it mean?

Your hard earned cash

Michael Zibell, Staff Writer

Typically when you think of being smart with money the first thing that comes to mind is saving it; however, sometimes saving money isn’t always the smartest way to go about it. Obviously you can’t go wrong with saving, but with money, the more the merrier.

So what are some ways to maximize your profits?

Unless you have been living under a rock you have probably heard about investing. Investing is a great way to make money. There are so many different companies, products or even ideas you can invest your hard earned cash into.

Despite the wonders of investing there are some downfalls. If you invest into a company and they make some poor decisions and end up bankrupt, well then, unfortunately, so do you. So before you invest, do your research and make sure you are making a smart choice.

Being smart with money does not always mean saving, sometimes it can be the exact opposite. You are always going to spend money. Doing so efficiently would be the smartest way to go about it. Coupons are a great way to save a buck. According to an article written by Capital One shopping, over 90 percent of consumers use coupons in some form to save money. 

Coupons aren’t the only way to save when purchasing. Price matching is a great way to cut on costs. A lot of different stores sell the same product for different prices. According to an article written by Money under 30 representative Amy Bergen, most big stores will match a competitor’s lower price, however customers simply don’t ask.

Personally, when it comes to spending money, my view is that you should buy whatever you want as long as you can still afford the necessities like, food, water and rent. I see no reason to not buy whatever product you are craving.

They say money cannot buy happiness but I would disagree. In a study conducted by Princeton’s Woodrow Wilson school, it was found that an individuals happiness would increase along side their income up to $75,000 a year. After this amount, however, it was found that no increase in happiness was found. Still, it is proven that spending money on yourself can not only make you happier, but it can also boost your confidence.

Lifehacker author Kristin Wong explains,  money should not be a vague goal to work towards but rather a tool to help achieve your personal goals and aspirations. This outlook can change how you view money as a whole. rather than working for the soul purpose of maximizing your profits, work towards earning enough money to achieve your goals.

I say as long as you have enough funds to provide all the necessary means of living, spend your money on whatever you would like. At the end of the day if a purchase makes you happy or contempt with yourself then it is a smart purchase. At the end of the day life is too short to only save. Spend your hard earned money while you still can and enjoy the designer clothes and vacations you always wanted.