This is a collaborative post.
Have you thought about your future? It seems that, as time goes on, we need to be more cautious about what we spend our money on, but when you are at that midlife point, do you really care anymore? As they say about money, “you can’t take it with you,” so if you spent a long time raising your kids, working hard at developing your career, or just squirreling away every penny you can earn, does this make for a fulfilling life overall? Money by itself can dictate our overall enjoyment of life, and yes, while being poor isn’t always so bad, it always softens the blow when you have a bit of money to spare! But if you’re preparing for retirement, should you save all your pennies now and enjoy yourself much more in your twilight years, or live everyday like it’s your last?
Live Life Now!
From a financial perspective, you can argue that you can always take out another loan. But is getting yourself into debt really a suitable option? If you don’t have much money, the temptation would be to get as many credit cards as you physically can, but you still have to pay it back in the end. Of course, while you’ve most definitely earned quality time with your friends, and you may have spent 20 years of your life looking after everybody else apart from yourself, there is definitely a case to make sure you enjoy the finer things in life. But death is such a horrible thing, you don’t want to get so sucked into the cycle of debt, that one day you will be refused any loan or credit card. Instead, it’s beneficial to keep on top of the financial help you are entitled to. And whether this means looking at the personal loan rates that you can afford to repay, or budgeting for a better lifestyle, you can find a way to live the life you really want, but you need to cut back on certain aspects. For example, if you want to be more social, then maybe you can cut back on certain everyday expenditures, such as food. Now, this isn’t to say that you need to go without food, but if you can be more economical in how you prepare food, that leaves you with a lot more money.
The other side of the coin is you can save every penny now and enjoy life when you are officially retired, and your children have grown up and are self-sufficient. The main thing to take away if you are leaning towards this approach, is that if you feel money is something that weighs heavily on you, whether you are lacking in it, or you’ve just got too many bills to pay, there are still the ways to live your life to the full now. Lots of people place too much reliance on money to do the things that they really want, but are these the really important things in life? If you’ve got children or grandchildren on the way, then it’s these precious moments with them that you’re going to value more than anything else. So, it’s about making your quality of life better, which can be done without money.
Money is essential for pretty much everything, but do you place too much of a reliance on it? And that is the real question for you to answer.