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Friday, October 18, 1996


By Mac McKinnon

It's never too early

to start saving

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I wrote a column several weeks ago that was well received about
personal finances. It seems that this is an area of life that baffles
many people.

I want to extend that subject to include savings. Everyone needs to
save for a wide variety of reasons.

One of the most important reasons to save is to provide for an
education for your children. To make that easier, it's best to start the
minute they are born as it takes a lot to send a youngster to college or
to a trade school.

Over the years, I've seen many parents go deep in debt to send their
kids to college. And in other cases, I've seen young people have to
borrow funds to pay for their education. Then after they get out, it's a
struggle to pay on those loans as they are getting started in life, many
times having just gotten married and in some cases, children come along
so they are really in no financial shape to pay off college loans.

We shouldn't depend on the government to help us educate our children
nor should we depend on scholarships. Most scholarships just don't go
far anyway. We need to rely on our own ability to control our destiny.

I realize it's easier said than done to save money. But if a person
will just put back a little bit each week or month, $10 to $20 or more
if possible, put it in the bank or some other savings plan, and let it
grow until the youngster gets to be of college age. The main thing is
"DON'T TOUCH IT" regardless of how urgent a crisis might appear

It's difficult to estimate how much college costs are going to be for
youngsters who just now being born or who are in the early grades of
school. With my two older kids, I thought I had enough saved but the
amount fell short of what was needed.

With my youngest daughter, I'm trying to save a little bit each month
but I don't know if that will be enough. If it isn't at least, I'll be
able to help her get a start and either she or I won't be out that much
when the time comes.

In addition, I believe people need to get involved in an Individual
Retirement Account or a 401K retirement fund. That's for your own
retirement. Some companies have them but many don't so it's up to the

It seems that too many people depend on Social Security. Social
Security was never intended to be a retirement plan. It is a safety net
just to keep people from starving. That's about all it will do.

For those who believe Social Security will provide for them in old age,
I'm sorry but nothing is further from the truth. As I said, it will buy
a few groceries and pay for small utility bills and maybe help some on
the rent if neither is very much but that's about as far as the money
will go.
I can't stress enough the need to SAVE-SAVE-SAVE.

It seems our society has gotten into the trend to living for today and
letting tomorrow take care of itself. There's not much security in that
kind of plan.

Mac McKinnon is editor and publisher of the Pecos Enterprise. His column
appears on Wednesday and Friday.


Students and teachers give a

special thanks to the firemen

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Dear Editor,
Pecos Head Start teachers and students would like to express our "warm"
thanks and appreciation to the firemen.

Last week our students were learning about safety; what to do in case of
a fire, when to dial 9-1-1, how to cross the street and not to speak to

Thank you for allowing the students on the truck, handle the water hose
and to try on the gear.

Mrs. Galindo & Class
Mrs. Levario & Class
Mrs. Rayos & Class
Mrs. Jasso & Class
Mrs. Florez & Class
Rosa Mosby
Center Director
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Copyright 1996 by Pecos Enterprise
Division of Buckner News Alliance, Inc.
324 S. Cedar St., Pecos, TX 79772
Phone 915-445-5475, FAX 915-445-4321

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