Should you buy the new Louis Vuitton wallet or should you just stick to the perfectly fine Guess wallet you have? Saving seems to be a problem with adults, mainly the young and feckless ones. After interviewing some colleagues, the results were that saving was not an important factor in their lives as to spending was. A number of these students that had some sort of income mentioned that since they have a source of income, they should be able to spend it however they prefer. In the real world, you should be spending on things that you need instead of the things you want. Also, spending more than you make is never a smart idea and could lead to bigger issues. One mistake many young adults and college students make is that they do not save any money they have earned. Most people today have trouble controlling their expenses; managing their budget must be mastered.
             Using your money on things you need and using it on the things you want have two different meanings. To need something is something a person must have or something a person can't live without. Water is an example of something a person always needs. A person can live without water for a couple of days but eventually, he will need to drink it in order to survive. To want something is not necessarily something you need but rather something you strongly desire. A person needs clothes to survive but he does not need clothes with a designer label on them. Besides basic needs, everything else is not necessary. Dividing these two aspects into your brain will help determine the important things you will be spending your money on and decrease spending your hard earned money on things you don't really need.
             To not spend more than you make is one important principle regarding the use of money that will help improve your financial situation. It is common for people to use the maximum limit of their credit card and only pay the minimum amount every month which usually abou...