Needs and Wants
Different people have different attitudes toward money. Some people believe money should be saved and invested. They like to feel like they have something to fall back on in case of an emergency. Others believe money is to be spent. They want the latest of everything from clothes to electronic equipment. When the money runs out or doesn't come along fast enough, they buy on credit and begin a life of debt. The following is an example of two such individuals. Jack and Amee Dunham had two sons, Brad and Randall. When their sons were just babies, they began putting $100 a month into a savings account for them. By the time Brad and Randall were 18, they had about $20,000 each to begin their life. Brad, who was two years older than Randall, decided to use his money towards college. He wanted to receive a business degree and have his own business one day. Much of his college years were spent in his dorm room pouring over books and studying for tests. He graduated at the top of his class and was offered a managerial position at a department store, which he decided to take. While he was working there, he met a young woman named Tricia and fell in love. Two years later they got married. Brad worked hard and moved up rapidly. By the time he was 32, he had saved enough money to buy a house in a nice neighborhood. Over the next six years, they had
one son and two daughters. Like his father, Brad started a savings account for each of his children. He also had been saving money for the business he had wanted and eventually had enough to start his dream. Randall, the younger brother, didn't think college was for him. Upon graduating high school, he spent some of his $20,000 on a summer trip to Mexico. The rest of the money went towards a new car. Before Randall knew it, the money was gone and he had to get a job. He was hired at a local restaurant as a waiter. He saved only enough money from each paycheck to cover bills...
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