There are two perspectives on spending money that we earn. We can either earn the money and spend it on luxury now itself or save the money for later and enjoy the luxury later. Many people have different opinions on this topic. Some people think that they don't want to spend any money now, and they would like to spend the money later, but they currently focus only on earning the money. The other group of people doesn't care about saving the money at all and spends a lot of money on luxuries and enjoy life as it is and worries about the future later.
I'm someone who would like to see a balance between the two. I always think that we should be saving enough money for the future and our emergencies but at the same time, we should also not miss the opportunity of enjoying things in our life at the right age. If I want to enjoy a cake or an ice cream right now, I would go and enjoy it right there. At that moment, I don't think that it will be wise to save that money instead of spending it on ice creams.
Cover the basic needs
I think there should be no compromise on the basic quality of life we should be living. We shouldn't be saving money without having proper meals, thinking that we can eat later after we are well off. That's stupidity because we may not live to enjoy good food later. It is logical to understand that good food is a basic need. Similarly, we should be spending enough money on some basic things, and we should not be saving the money for later.
Travel when you are younger
I hear this from many people that we should travel when we can. People usually think that they can do all their travels when they have retired or after they are 40 years old. The truth is that we may not have the health to travel and enjoy the places as we age. Sometimes our mind might even become different and not enjoy things that we might have enjoyed when we visited when we were young. Not just individual travels but also the travels that we do with the family should also happen only when we are younger. When we grow old we might want to do things by sitting idle and not by travelling to places.
Spending time with the family
When we are cautious about earning more money, sometimes we might have to be on business trips or stay away from the family. There can even be instances where we might find it hard to plan trips with the family or take them to some good places. Some people think that as an unnecessary expense and try to save money on that part. This is also something that should be reconsidered. For instance, if we have to enjoy with our 5-year-old or 3-year-old kid, we can enjoy with them at the right age. After they grow older, we will not get the same thing back, and we shouldn't regret for not spending time with them back then.
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