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Mar. 30th, 2012 06:49 pmHad an interesting discussion with ![[livejournal.com profile]](https://www.dreamwidth.org/img/external/lj-userinfo.gif)
technocollie about instant versus delayed gratification when it comes to saving and spending.
Those of you who know me probably know that I'm a big fan of delayed gratification. I'm willing to pass on anything I don't consider absolutely essential to survive if push comes to shove. For example, not going to FC this year. It would have been a great trip, but I couldn't budget for it.
Yet at the same time, I've allowed myself to splurge a bit in other areas, such as getting a hybrid Infiniti to replace the Hyundai. It was a bit pricey, spread out over several years, but it has served me well and does ease some of the pain at the pump with gas prices going through the roof.
Still, I believe that stewarding your finances properly means you clear your debts whenever you can, and if you have to choose between getting something you want -- but don't necessarily need -- and paying off your debts, you should pay off your debts first. The only problem? Defining what is a "need" nowadays is sort of a moving target. Obviously food, clothing, and shelter top that list. But a computer or internet? They're still nice to have, but probably not "essential."
The extreme is to hoard everything and spend as little as possible. But doing that could easily make you the richest person in the cemetery, having lived a miserly life with little to enjoy. For several years I leaned in that direction because I wanted to make sure I had enough of a financial cushion should my current sources of income dry up. At the same time, though, I do want to enjoy life at least a little, so I'm willing to tradeoff one for the other at times. The trick is to achieve the right balance.
technocollie about instant versus delayed gratification when it comes to saving and spending.Those of you who know me probably know that I'm a big fan of delayed gratification. I'm willing to pass on anything I don't consider absolutely essential to survive if push comes to shove. For example, not going to FC this year. It would have been a great trip, but I couldn't budget for it.
Yet at the same time, I've allowed myself to splurge a bit in other areas, such as getting a hybrid Infiniti to replace the Hyundai. It was a bit pricey, spread out over several years, but it has served me well and does ease some of the pain at the pump with gas prices going through the roof.
Still, I believe that stewarding your finances properly means you clear your debts whenever you can, and if you have to choose between getting something you want -- but don't necessarily need -- and paying off your debts, you should pay off your debts first. The only problem? Defining what is a "need" nowadays is sort of a moving target. Obviously food, clothing, and shelter top that list. But a computer or internet? They're still nice to have, but probably not "essential."
The extreme is to hoard everything and spend as little as possible. But doing that could easily make you the richest person in the cemetery, having lived a miserly life with little to enjoy. For several years I leaned in that direction because I wanted to make sure I had enough of a financial cushion should my current sources of income dry up. At the same time, though, I do want to enjoy life at least a little, so I'm willing to tradeoff one for the other at times. The trick is to achieve the right balance.
