Do you have any regrets in your saving path?

I guess we should avoid saving too little and saving too much.

As a guide, 6 months worth of emergency savings would be good but do not save too much either as the interest given by the banks are so little. Get yourself some insurance coverage if you have spare and can consider investment options.

Definitely there are items that you'll second question yourself on buying when you find yourself not utilising it as much. But I think the more important thing is to not be hung up on these regrets and see how you can improve your savings path moving forward.

For this, tracking your monthly expenses really helps you to identify the areas you can cut down on and improve your savings sum.

Once i regretted not spending the money into a course. Was thinking of saving the money and just learn about it myself from books and Internet. After all, saving this sum of money makes me waste the whole one year of my time where i can expedite it within few months. After i end of saving less with the initial amount. If i would have spend it to take on the course, i would have more money than before.

When it comes to spending, it can be grouped in 2 ways:

1. Needs vs Wants

One should always prioritise needs over wants. Ideally, one should look towards buying the necessities for basic human survival and perhaps, occassionally splurging on wants, simply because it keeps you motivated and continue to work harder and strive towards your goals. Maintaining good emotional well being may be essential to leading a happy life. I would consider myself to be rather conservative when it comes to spending on wants. Even if I do make the choice to not spend on a want(e.g the new MacBook Pro 16") , I usually have no regrets. Since its a want, I can still survive without it.

2. Material possessions vs experiences

The next point is where it gets interesting. For this category, I realised that I have spent more often on material posessions than experiences. Over time, you will realise that satisfaction derived from material posessions wears off quickly. Unless of course the item has good utility value or it is an income-generating asset then sure, it generates a good ROI. Experiences, on the other hand, leaves a deep lasting impression in your memory. This include going on holidays, staycations, cruises, theme parks, etc. Even better, if you go for experiences with your loved ones, I think it will be money well spent. Not only do you derive satisfaction on your own but you also enjoy it with the company of your loved ones. This is something which I think I should have spend more on while in my pursuit for savings.​​​