I apologize in advance for the inherent humblebraginess of vacation pictures. I did warn you, though.
I am generally a pretty frugal person. Three of my lastfour posts have been about saving money. I’ve written about cognitive biases that get in the way of saving money. I’ve written about the best way to hit savings goals.
And yet, I just spent a whole bunch of money on a three-week vacation to South Africa and Spain. This came thirteen months after a trip to Peru. Which itself came eight months after a honeymoon in the Bahamas (which, to be fair, was paid for with hotel points).
This may seem out of character or incongruent with my savings focus. But I don’t save money for the sake of saving money. I don’t intend to be the richest man in the cemetery. And while I would love to reach financial independence, I am not aiming to get there as soon as possible by any means necessary. Instead, I want to live my best (and happiest) life with as little waste as possible. Continue reading “How to Buy Happiness”
A lot of people set resolutions to save more money. In fact, it was the third most popular resolution for 2015, behind only “lose weight” and “get organized.” But as we’ve noted before, only 8% of people successfully achieved their resolutions. So how do we go about making sure that we are the select few who actually do save more money?
Do you focus on the Latte Factor and cut out your daily coffee? Do you drive around in search of the best deals or spend your Sundays clipping coupons?
This is assumed to be due to being in their formative years when the 2008 recession happened. One expert noted that prior generations saw “plenty of boom times where the stock market was going up, home prices were going up, so they didn’t feel they had to save.”
Millennials saw that markets can go down and home prices can go down and placed more emphasis on emergency savings and a bit less on consumption.
Let me just say up front that I budget. Don’t pretend to be surprised. I know I’m a nerd.
But I won’t judge you if you don’t.
What I do want to make sure you do is make a conscious decision about how to handle your money. If you’re ignoring budgeting because you think it will take too long or be too constricting, then your money may be leaking out in places that you don’t want it to.