When I was 13, my dad asked my brother and me a question. He said, “Would you rather save money now and enjoy later, or would you enjoy now and have no money later?” It’s so interesting how a phrase from back then framed my mindset while I grew up. For the next 10+ years, I made financial decisions that were more on the conservative side. I would save money for a rainy day, wouldn’t splurge on snacks, have frequent hangouts with friends, and ask for any money as a kid.
This mindset along with financial struggles in my family inevitably affected my overall lifestyle. I found myself choosing hobbies or experiences that were less expensive. Looking back at things now, was it worth it for me? Did I ever feel like I missed out on a part of life or didn’t experience life enough? The short answer to both questions is yes. For the long answer, let’s start with the first question.
Why Is It Better To Save Money?
For some people, financial issues aren’t a high priority so I’ll start by saying that there isn’t a cookie-cutter answer for saying that saving is better for everyone. However, I do believe that saving money can financially improve the future for everyone. Whether I was in high school, college, or post-grad, the idea of having emergency funds was important to me. According to Google, this fund should be roughly 3 to 6 months’ worth of expenses in your lifestyle.
For me, this felt necessary because I grew up in a financially unstable household. I always wanted to prepare for the worst-case scenario which was along the lines of paying for my own education or covering payments that my family couldn’t pay. When I was in the process of entering college, my parents couldn’t afford to pay the tuition or book fees even with the scholarship I had.
When I was in my junior year of college, my dad lost his job, and I was glad that I had money to send back to my family. A few years after that, my dad lost another job due to COVID’s effect on the job market. The point is that preparing for these hardships in advance ensured a better future for my family. It’s great to feel like I made an impact on others, but it’s also important to see how these decisions affected my life.
Was This My Best Life?
Even though I ended up in a better financial position, did I have the best version of my life? The other side of financial freedom is the idea that I didn’t enjoy life to the fullest. I wasn’t social outside of a school setting, I didn’t splurge as much on small treats, etc. Although I didn’t have these fun fragments of time, the core memories that stick in my head are similar to others.
I reminisce about the laughs I had with friends, and the fun times I had with my family. So do I feel sad that I didn’t get to spend more time galavanting? A little bit, but the main regret that I have is that I didn’t get to spend more time with the people I love. When I think about this regret, I also remind myself of a positive idea. Even if I’ve made decisions that have negatively affected my life, I realized that I need to accept those mistakes.
I can’t change the past so in my eyes, there were never any “other versions” of my life. I only have one, and the only way to make it better is by being accountable and learning from my mistakes. The only left to do is to continue walking forward and making the right choices.
Did I Make The Right Choice?
I think I did and am. Every now and again, I question if I feel like I’m moving forward in different facets of my life. Especially in finance, the answer is yes. The reason why it’s important to ask “Did I make the right choice?” is that it can give a sense of direction. It helps me recognize if I’m taking steps forward or backward and helps me move in a positive direction.
Some days can feel harder than others, but it also means that some days will be easier. On those days, I have a choice on how fast I want to move forward. Even if I decide to stay still or take a step back, having easier days on the horizon means that I’ll always have the opportunity to create a better life. It’s comforting to know that I’m growing when I choose to take the opportunity and have the potential even when I choose to relax for the day. “But Joemer, how can I destress if I can’t spend money on fun events?” Well, this next section is for you then!
How To Live Below Your Means
Relaxing can alleviate mental stress and provide space between intense work periods. Financial freedom is a challenge, but it doesn’t mean that it can’t be fun! I’ve learned throughout my life that there are ways to have the best of both worlds. It’s possible to enjoy life on a budget. For example, here are 100 ideas for enjoyable free events.
Friends, alcohol, vacations. All super fun social events for sure! I wouldn’t recommend cutting out any of these things unless they lead to toxic habits, but they can be expensive. What I would recommend is being transparent with the people around you. If loved ones really cared, they would support the endeavor or at least try to! These topics are also ways of relaxing which mean they aren’t bad in moderation. Finding a balance between relaxing and being frugal is the key to living below your means.
I feel like it’s easy to not spend ANY money, but what people don’t speak about is how this mentality can make some people feel chained down or shackled. It isn’t a way to live life as life should be lived to the fullest. If you want to live life to the fullest and that includes budgeting, being frugal is not an excuse. Click the link for free things to do and take a well-deserved breather. If you want a number on how often you should do this, try doing one of these ideas once a month. It doesn’t hurt to try.
Post At A Glance
Thanks again for reading my blog! I’ve always had a passion for having a better life so it was inevitable that I covered personal finances. I feel like I have a lot to think about and talk about when it comes to this topic, so feel free to leave anything you want me to talk about in the comments! As always, if you don’t have enough time to read the entire post, here’s a key takeaway!
Even if I decide to stay still or take a step back, having an easier day means that I have the opportunity to have a better life. It’s comforting to know that I’m growing even when I choose to relax for the day.
– Joemer
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