You can be financially together and still have a fun! I see this over and over in my family and friends and ironically in r/personalfinance. " I want to live my life, not save every penny", that sort of thing. It is possible to save while still doings fun things, eating nice meals and traveling. When someone makes it a this or that situation I think they are making excuses for poor spending habits or budgeting. Sometimes deferring gratification leads to the ability to have MORE fun and freedom once you've established yourself financially. I'm not talking about waiting till retirement BTW, im talking about getting a budget setup, getting some investments going, getting some interest coming in, paying off debt that costs you interest etc. Interest is money you could be using for fun, that you instead are paying to some huge corporation. What I'm describing isn't some kind of punishment, it's a way to be more intentional and to always make sure the things you are spending on are helping you attain your goals and add lasting fulfillment to your life. It's the ability to buy things at their actual cost because you can get a decent interest rate.
I don't make insane amounts of money, but I'm careful and try not to buy things I don't need. I always ask how many times a year I will use something before buying it. I think about how small amounts add up to be a big amount over time. My family mocks me saying things like " he still has his first $1." Basically saying I'm cheap. They all buy whatever they want when they want it. They are in debt, stuck in life and unfulfilled by the very items keeping them there. Once you get on the roller coaster of spending on credit cards for instant gratification, it can be VERY hard to get off.
I'm not saying this in a judgemental way, I've just seen so many people I care about struggle financially because of this mindset. Seeing it being perpetuated in a place designed to help people get their shit together is kind of brutal to watch.
If you are a young person coming here for advice, this is the best advice I can give. Defer your gratification. Half the time the thing you "must have" seems pointless if you just sit on it for a week. Avoid impulses and focus on experiences and items that will last and wear well over time. Once you have established a solid financial foundation, your ability to go places and do things will quickly outpace the friends and family around you that are focused on attaining every minor impulse and paying off the associated debts.
TL:DR See Title.
Submitted January 09, 2017 at 04:35PM by hungryfreediver http://ift.tt/2jmETGh
