Posts Tagged ‘money management’

Scrooge or Shopaholic?

Wednesday, April 15th, 2009

Thought of the day:

[note]Smart money management isn’t about saving every dollar possible and deferring all gratification, even in a recession. It’s about striking a balance between today and tomorrow.[/note]

If you, like me, are still trying to find your footing in the world of personal finance, finding your balance is very important. If you were to lean too much on to either side – spend too much or spend to little, you’ll end up feeling miserable! Yes! Saving too much can make you unhappy!

Let me state an example:

Awhile ago, a few people around me were going for vacations. I knew they didn’t make a boat-load of money, but yet they seem to be traveling all the time, whereas, I’ve hardly been traveling, and when I do, it’s just to Malaysia. It didn’t feel right at all, and it seemed like I wasn’t making enough, and I knew that wasn’t true.

Then I came to realized that in the attempts to accelerate my savings goals, I’ve been putting unnecessary pressure on myself, and becoming grouchy as a result. I also realized that a huge chunk of money that could have been vacation money, was actually spend on petrol and car related expenses. I’m fine with that for now. I like the car.

Understanding where your money goes really does help you find that balance in life. So strike a balance, yo!