Saving money versus spending your money freely

Recently my niece’s 21 year old friend died in a car accident and my niece mentioned that he had already lived life to the fullest. He had inherited $120,000.00 and imediately started living like a king. He had no regrets, and as fate had it, he got to enjoy his money just in time. People remember what he did with his money and now smile. He enjoyed himself.

Now I am thinking, what if I died tomorrow? Would I have any regrets about being strict with my money and not living the full life I could. Of course it’s not that serious but I cannot help but ask the question. Am I living life to the fullest or I am caught up in the day to day need for money? Should I be spending my money more freely if I need to, or should I still save it for a rainy day.

Why should you save money?

  • We should save money for the just incase as the economy is unstable.
  • We should save money because it is hard to earn.
  • We should save money because money breeds money.

Why should you spend money?

  • You might die tommorrow and you cannot take it with you.
  • You might miss out on some great experiences.
  • Money is the be all and end all of life.

Will spending or saving money make you happy?

This is a questions I often ask myself. Should we be spending money and having a bit of fun, as we work hard for it, or should we be saving it? Everything costs so much money now days. Even to give your family a simple camping holiday is not cheap any more. Really what can you do? Just simple living costs probably take all of your money anyway. Are we in a catch 22?

It’s all too complicated I hope I haven’t confused you.

Comments

  1. Mark Steves says

    If you save some then you can spend some, but the thing is that you need to be responsible enough to know the all the risk prior spending. It’s better that you spend the money in a good investment that will help you gain eventually what you have lost. We all should be wise enough handling money to avoid being in debt.

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