Spending is so easy especially this day, age and society where the marketers and retailers become super genius about finding ways to get money out of the consumers' wallets. Everything just looks so tempting although we don't have the need to buy when we left the house. All of sudden you have a very strong urge as you spot a super cute packaging/product on that attractive display. You feel an Adrenaline rushing through your body and before we know it we come home with stuff we don't truly need. Does that sound too familiar?
At times I am wondering "saving is a great and secured financial decision but what if I saved all my life but die prematurely?". That means I don't get to enjoy the hard earned money I have saved up all my life. Circumstances like that do happen in real life to many people. I am asking this question not because I think saving sucks or screw that 401(k) now.
Sometimes I feel that I stress myself out due to saving because I have yet to be able to find a balance between the two. I am more into saving than spending because I am "too" worried about the future. I rarely splurge on myself since the day I start living the "real" life (when you know there are things called "bills", "car mortgage", "30 year home mortgage" - depressing much?). My husband did a happy dance when i finally bought a Chanel purse and a Dior tote 3 years ago (my last splurge). He said it was about time to give myself something.
Ever since I started my career in the U.S., I signed up for a 401(k) right away at the age of 25 years old which I am so glad I did. There is no way I could save up on my own or rely on the super low interest rate from the bank to get to where I am now. Every time I log in to check on my retirement saving plan, I feel a sense of glory like wow cant believe I have that kind of money probably took me a lifetime to save on my own. I totally agree with the concept of "paying(saving) yourself first" every time you get paid. If you wait to see how much money you have left after all the expenses you will never be able to save. It will end up in someone else pocket. It has proven to be so true. My mother has always told me that when I was young.
Saving becomes a real challenge when there is a child in tow. Now with same amount of dual incomes, you also look at splitting the money into more savings: 401(k), Emergency saving (in case of unexpected employment), child's saving account and Miscellaneous saving (vacation, unexpected bills or home maintenance). My husband said i set up too many savings accounts (haha...but i find it works better that way to have money allocated for different purposes).There are days I feel I just want to blow up my savings and go spend on things but in reality I don't think I will or can. It has taken years (plus sweats and tears) to save up I don't think I want to blow it in a matter of a day or two.
I will continue to save but I will and should take a different approach to lessen that stress in order to enjoy the now moment more. For years I really am struggle to find a balance and one day a reality hit when one of the coworkers passed away from a heart attack. She was in her mid's 40 and didn't have a child. She had a decent saving in her retirement plan that she didn't get to use even a cent but the money went to her siblings (who fought for the money) to enjoy. How sad is that. That really got me thinking and looking at the way I save differently. Life is too unpredictable.
Do you think you have found your balance between saving and spending yet?