We’ve always been given the advice by the financial advisors and elders to save money as it is good for the future. But, do you know that it is also good to spend your money especially when it comes living in the present.
Today, I was having an interesting discussion with my uncle and he advised me that it is good to save money but if you want to live life to the fullest and enjoy each moment then you need to spend the money you earn. It is true that you need to live within your means and save for the future but it is also fine to spend some of your money on things or people you love.
It’s very easy to get caught up between saving and retirement planning for financial security. And, its also easy to get stuck in the “spend less and save more” phenomenon. Many times, we forget that life is more than living for tomorrow. We also need to live and enjoy every moment that we live in today while thinking and preparing for the future.
Its NOT bad at all to spend money because it is designed to be spent but doing it unconsciously may cause problems.
Saving money is important as it helps you live the best of life, and it also helps you to stress less about money and make better decisions. However, at the same time, there are certain things that you need to acquire for your or your family survival, such as food, housing, and clothing. And, money is the tool that allows you to do so.
Many times, we hear people saying that if we really want to a secure future then we need to give up on a bunch of things and live a miserable life. However, you need to be little disciplined while spending money but if you deprive yourself of everything or any kind of splurging then it may lead to more stress.
While saving money can help you achieve your financial goals, you still need to spend money as it makes you feel de-stressed and forget about the daily problems in your life. And, if you spend wisely then it will make you realize your priorities and how to control your money.
Here are four reasons why you need to spend your money:
1. To buy things that bring you joy and happiness
As long as you’re cutting back on thing you really don’t care, its fine to spend money on experiences, products and services that brings you joy and happiness. Also, you can spend money on things that will make your life easier. If having a daily latte or housekeeper will enhance your life then you shouldn’t mind spending money on it. In fact, if you deprive yourself of these essential items then it may not lead you to anywhere.
2. To buy things you’ve saved
If you’ve been saving money deliberately for a down payment of your dream house or a vacation or even a dream car then its time you need to take action on it. It is true that it is difficult to part ways with that savings but that’s what you intended to do so its time you spend that money on the items you were thinking to buy.
3. To own quality products
It is OK to spend money to have a possession of products that matters the most in life. For instance, if you’re having some difficulties with your mattress then its time you buy a quality mattress that will NOT just help you sleep better but it will also remove any backache problems. Similarly, if you need to reduce weight and have a perfect body then its good to buy a membership of a nearby gym or if you travel frequently then you need to spring for a better luggage. If owning quality products will improve quality of your life then its often worth to take the splurge. And, there may be some products that will be worth an additional cost as long as you’re not living in debt.
4. To take professional help with your money
If you want to seek some financial advice then there is no better option than to seek professional help from an expert. According to a research, you’re more likely to be happy and gave stability in your financial and personal life if you seek advice from a financial advisor. A good financial planner can NOT just help you identify your financial goals but can also guide you to finances for your future.
Money is a utility that helps you to improve one’s lives. Saving money is important but there are times when its necessary to spend.
However, its also the key that you must spend wisely and within your budgets. The key to financial balance is to both spend and save money with a purpose.