30 Dec 2020
Does it mean that if I already have emergency funds saved, have some investment portfolios, have few insurance policies, then I can have my daily Starbucks coffee? Subscribed to Netflix, and take Grab rides everyday?
Because savings & investing are never-ending. So can we use the "excess" money to do little things daily to make us happy?
I think moderation is really important here! Of course some days it's really okay to spend a little bit of the "excess" to reward ourselves!
The problem comes when the frequency of spending increases and we are always trying to reward ourselves every other day! It really depends on your lifestyle and what are your goals!
Indeed, Saving and investing are never-ending, but it is this delaying of gratification and consumption that will let you have the freedom to spend a little bit more in the future!
For me, I wouldn't want to buy Starbucks, take grab rides everyday because I think it will add up to quite a substantial amount of expenses for the entire year! It really depends on what is important to you!
For me, I like to think long term and hence tend to be a little bit more frugal haha!
Hope it helps! Everyone's journey will be different because of different circumstances!
Like many others , I feel that balance is key and ofcourse there is no value on your happiness. what's the point of having a huge amount of $ but you are unhappy?
However , the red flag I would like to caution you is the dangers of habit. Human are habitual creatures. Once you get into this habit/lifestyle you would need to sustain it indefinitely. just a food for thought
it will always be a mix that must individually balance investing and spending.
When you are young you maybe want to do/see a lot of things and spend, but young age is a key age where you can invest to the benefit of the 'compunding effect' much later in life.
but no stress, of course money is not an aim in itself, spend happily (but also invest).
Write your thoughts