How long should you wait before buying a new mattress? Do you really need a new laptop, cell phone or iPod? And what about that Caramel Macchiato from Starbuck’s? Is it necessary? It may not be necessary, but it’s enjoyable. In our attempts to be financially responsible and save for the future, we can inadvertently cut the joy completely out of our lives. It’s important to find a good balance between saving for tomorrow and living for today.
I’m moving into a new home this month, and because I’ve had roommates every year for the last ten years, I don’t own much in the way of furniture and things. I have my bedroom furniture and a few kitchen items, but that’s it; nothing for the living or dining room. My first instinct was to “borrow” what I needed from friends. My reasoning was two-fold. First, it seems like such a waste for perfectly good furniture to sit unused in someone’s attic. Second, I just don’t want to spend money on new stuff. I have the money, but I’d rather not spend it.
If you’re making an intentional, concerted effort to save money – whether it’s for retirement, kids’ college educations, or even just for emergencies – you’ve probably had similar dilemmas. Do you pay a little extra to get that new dining room table or do you hit the garage sales? Or, do you live with the table you already have, even though it’s (almost) falling apart?
Saving is good. It’s smart, and it’s necessary. But in our effort to save for tomorrow, we can find ourselves missing out on the joy of today.
You might be able to endure that broken-down dining room table for another year or two, but won’t life be a little more enjoyable if you buy a new one? I could take some free furniture from my friends, but one of the reasons I wanted my own place (with no roommates) is because I want to create a space that’s a true reflection of me. And that’s hard to do with someone else’s stuff. So, I’ll buy a new couch and a new dining room set. I’ll pay cash for them both and create the kind of home that I truly want.
Yes, saving is good. But life costs money. Only on very rare occasions will you be able to go to the theatre or a ball game for free. And a “vacation” in your own home won’t produce the same experiences as a trip to Europe or Yellowstone National Park. We don’t want to get so focused on saving that we miss out on some of the fun things life has to offer.
Of course, we also don’t want to get so carried away with “living for today” that we use credit cards to pay for that trip to Europe. And that’s the key. We can enjoy things today as long as we’re paying for them today. If the only way for you to get that new dining room table is with a credit card or payment installments, then it is best to wait.
Ultimately, we all need to learn how to walk the fine line between saving for the future and living in the moment.
For more ideas on how to improve your financial health, check out Quizzle.com, where you’ll learn how to achieve your credit potential and get home loan recommendations tailored to your unique situation. And check out these other great money-saving articles:
- Prepare for Christmas… Now
- 6 Tips for Budget-Friendly Shopping at Yard Sales
- Improve Your Credit Score if 5 Simple Steps
- 5 Dangerous Money Pitfalls to Avoid
- Cut Cable TV and Slash Your Monthly Expenses
