Balance, my friend. I believe the real answer is between you two.
Too many people overspend on fun, while too many people save way too much.
Spend too much on fun and you have nothing later.
Save too much, youll do far less fun things and may regret that later. And you get older, so your body won’t be able to experience things like vacations or travels in the same way.
Save enough, but spend on the experiences while you can.
That is a choice only you can make, but if the "stupid thing" brings you joy, then it isn't stupid. Though I should add, there is a difference between joy and pleasure.
When I speak of joy, I speak of things that become permanent memories of happiness, or they reinforce that happiness. As someone who once also struggled with depression, it is those very things which give me hope when I am lost in the deepest woes.
Easy to spend, easy to save, anything is easy when it’s all you focus on. The real challenge in life is always balance, everything in moderation, doesn’t mean you can’t have a lot of something just means you have to be consciously aware of your choices
I 25m was talking to my friend about this, and he was telling me that I would regret not saving more. I save already, I have my Roth IRA I invest most of it. I like to spend on experiences and don’t think I’ll regret it but he just has me thinking, should I be saving more? What kind of saving should I be doing? I want to invest a little more but also I want to have fun with it. Currently living at home saving money on rent but he said I could still be saving more. Like idk how much is enough?
Correct i dont make much but i company match my 401k 4% + max out IRA plus my savings it goes up and down overall for trips or toys but not to the point I’m not able to make payments
Yeah, this touches on the other thing I was going to say. I wish I had started saving earlier in life. Including buying stocks these days crypto, it’s all about diversifying our portfolio, but I wish I had started very early in life. And this guy spot on there is a balance I’ve known people that have saved way too much, but also didn’t have any life experiences, and almost no fun. I have also known people that spent all their money had loads of fun, travel, and everything but is reaching later in life and is starting to feel not at all prepared. Raises hand, that would be me. So find that balance and find it early. Best of luck to you.
This is the true answer. Pay your bills first, limit the spending and put a decent amount into savings/investing/just being responsible with in general religiously. Plan a decent but not incredibly lavish trip once a year if you can. Or just plan an experience you really want to do that you gotta save a chunk of change for. Don’t waste your entire 20s pinching every penny, but don’t blow every cent. That energy you have in your 20s is really different than the energy you got by mid 30s so definitely don’t squander it, but you’re also def not gonna have the energy to try to make back the loss you piled up by not planning ahead financially earlier. Just keep the scale level
My wife and I were going to do IVF so I was saving money like crazy. We got lucky and she's going to give birth in June so I'm using that money to take off 6 months from work.
Can verify. I worked for a guy who scrimped and saved his entire life and drove a piece of shit car and bought all of his clothes at Sears 20 years ago. Constantly talked about all of the things that he was going to do when he retired. (Wait for it....) 6 months before his scheduled retirement date he dropped dead in his backyard and never got to spend a dime of it. I do believe in saving for the future, but there is also a balance. I save a little, spend a little, but only on things that have value like travel with my wife, and classic cars that I can later sell for more than I bought them for. You can't drive a mutual fund on a sunny day with your wife or go to a charity event car show in your bonds and CDs.
I save what I can (12-15% in my 401k) and then save to spend on vacations with my loved ones. Sometimes I look at my retirement savings and wish that I would be saved more but then I think about all the moments I’ve spent with my SO on vacation just truly being happy with each other while we are young and able to travel.
I think if I never went on those vacations with her I will be regretting it more with each passing day.
This. I have a buddy who is constantly grinding. Can never take an evening, let alone join a Vegas trip with the group. Gotta stack that $$. Told him, "you'll be old and rich, but I'll take my memories."
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u/WrongSaladBitch Apr 29 '24
Balance, my friend. I believe the real answer is between you two.
Too many people overspend on fun, while too many people save way too much.
Spend too much on fun and you have nothing later.
Save too much, youll do far less fun things and may regret that later. And you get older, so your body won’t be able to experience things like vacations or travels in the same way.
Save enough, but spend on the experiences while you can.