One can save for other people and invest into their lives. Thats what he did. He decided that he wanted to help pay for tuition for his nephew who was going to college in the Fall. So, for a year, he saved until he had the total cost of his nephew’s freshman year tuition. On his nephew’s birthday, he presented his gift to the surprise of everyone at the party.
After the party, he thought about saving for other things too. Things like a new car for his parents, sending people to camp, and a new computer for others. In this way, he was able to save for his friends and family as well as investing in their lives. This also helped when gift time came up like birthdays, weddings, and Christmas.
There were many other things he could save for too. Annual passes for his friends, concert tickets for the year, a new digital camera, to other gifts. He put it all on paper and he wrote down the person’s name, what the gift is, and how much it cost. That way he knew how much to save every month for each gift. So, for his friend, he would buy a new hat which cost $100. He saved $20 a month for 5 month to save $100. This is what it looked like:
Friend 1 – new hat – $100
Friend 2 – new backpack – $50
Friend 3 – maid service for a year – $500
He was able to plan ahead and this helped to save money and it was not as stressful on the pocketbook.