by Angela Diggs

Created on: May 08, 2009

" Patience is a virtue". In the end, waiting is always better. As time, goes on, I realize that if I had waited for things, life would have turned out completely different. When it comes to money, most of us would prefer to have a whole lot of it right now. Some of us dream of being ridiculously wealthy. However, in real life many of us are not. We are average wage earners that live paycheck to paycheck.

This is the reason it is better to wait until you have enough money before buying something. It is alright to want to purchase something, but it better to simply wait until you can afford it. If you think about it, the entire country would be in a better position if it just waiting and saved up the money before using credit to buy something.

This entire global "slow down" is happening because of " greed" and "impatience". 25 years ago, times were different. The baby boomer generation was a generation of "savers". They did things the "old fashioned way". That way was the best way. Why? Baby boomer's had more money stashed away in savings and retirement than any other generation. They had firm economic morals and remained by them. Back in the day, if you didn't have enough money to buy a car, you worked and saved up until you could afford to buy it out right. If you didn't have at least 20% for a down payment and near perfect credit, you couldn't obtain a piece of property. If you didn't work, you didn't eat and that was that. That generation was raised to be strong.

The generation today is what I call a "minute rice" generation. Everything has to be quick and instant. Young people today amass more debt than wealth because they are more concerned will appearances than quality. Many youth rather "look" like they have it together than actually be together. In the meantime, they are falling a part at the seams trying to stay afloat. While they are driving around in "leased" cars with an inflated " car insurance payments, there financial destiny is slipping through there fingers. It is a sad reality.

The good news is that there is a way out. One simple principle can change the course of a persons existence. " Don't buy what you can not afford". It is really that simple. This is one way to control your money. Besides, waiting until you have the money is better. It will provide you peace of mind. This is the way things are meant to be. It is better to be in control of your finances.

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