Is it better to enjoy your money when you earn it or to save it for some time in

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   Seckin Esenposted 12 years ago

   Is it better to enjoy your money when you earn it or to save it for some time in the future?

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   Ivan Ivanovposted 12 years ago

   Personally I enjoy saving up money for the future. When I earn money I know where the money will be spend even before starting to work. When I save up money I don't know where they are going and it's always a surprise.

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      Seckin Esenposted 12 years agoin reply to this

      Thank you for the answer Ivan.

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   CroftRoanposted 12 years ago

   I've been trying to save up as much money as possible so that I can get my own place. The problem is saving everything leaves these cravings to buy whatever tickles your fancy. For me it's books and the past couple of years I've had the most painful urges to buy any book I can even when there isn't a sale or a used bookstore nearby. I would always recommend buying a little of what you want (preferably $50 or less) and sale the rest for what you'll need in the future. This will satiate the shopping urges and still allow a decent amount of money put aside.

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      Seckin Esenposted 12 years agoin reply to this

      Thank you so much CroftRoan.

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   Old Empresarioposted 12 years ago

   Since saved money has less buying power every year due to inflation, it's best to diversify all of your assets. In other words, don't just save all of it. What $10,000 could buy you today, it won't be able to buy you a decade from now. I'd keep several months worth of pay in an emergency savings account and keep a short-term savings for vacations and large purchases that you want to make. The rest, I would spend and/or invest. When spending lots of money, its safest to have an eye for high-quality items that hold their value over time and that aren't prone to breaking or becoming obsolete when better versions come out. Computers, home entertainment, and phones are bad investments in this sense. Property always has an intrisic value even if it is worth less later than when you first bought it.

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      Seckin Esenposted 12 years agoin reply to this

      Thank you so much Old Empresario.

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