From the course: Personal Finance Tips Weekly

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Arbor Day: Planting seed for your financial future

Arbor Day: Planting seed for your financial future

From the course: Personal Finance Tips Weekly

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Arbor Day: Planting seed for your financial future

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- [Instructor] There are few better analogies for planning for the future than planting a tree. Each Spring, Arbor Day is celebrated in many countries around the world by encouraging individuals and groups to plant trees, and as any first-grader knows, a tiny acorn with the right nourishment over time becomes a giant oak. I've never really liked the term nest egg as representative of your money. The giant tree that provides shade, support and oxygen is a much better analogy, and building up your own money tree is something that can have a huge impact on the generations to come. So what are the seeds that can help you grow your money tree? Live below your means. Nobody ever spent their way to wealth. A great idea is to draw a line in the sand of where you can live comfortably, and everything above that line gets saved and invested. If you get a raise, great. More money to save and grow. Are you in a committed relationship? Awesome. Why not try to live on one salary and save the other?…

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