Save some, or spend it all?

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Saving money is supposed to be a good thing. But others say, live in the moment, there is no point to plan ahead because you can’t predict the future. Is this to conveniently justify the need for instant gratification, to consume in the flow of consumerism as much as possible? It has become normal to spend more than you have and pay for it later.

Borrowing money and paying it back later is a way of pushing the pain away into future, taking money from your future self. It has been found that it’s difficult for people to connect with future self. It’s like a whole other person with their other person’s worries.

Some people save. They have different reasons for doing so but the result is the same – their future self will have it easier. Do these savers have more empathy for their future selves so to say? I save money as well. To me, it seems very reasonable that I want to be better off in the future than I’m now. Savings give people freedom. Freedom to fail, to change jobs, freedom to move and to face unexpected problems.

Saving is hard. It feels like you waste money by saving it. If you take a portion of money out of consumption, it feels like it’s been waisted – strange, isn’t it?

Saving becomes easier if you trick yourself into it. For me, the “pay yourself first” method worked wonders. After arranging a monthly automated transfer from my main account to a backup account it took a couple of months to get used to it. After that, It didn’t feel like I missed the money at all.

Then, as time passed the money I put aside started to add up. Savings have a very positive and calming psychological effect. There is a lot less financial drama in life. All the financial issues get some slack.

You can always choose to spend the money you have saved, but it doesn’t work the other way around.


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