Even with your finances in order and a healthy savings account, you may find that worry is keeping you from enjoying your money and your life.
There are a ton of things to worry about when it comes to personal finances. Will you be able to make your monthly mortgage or rent payment? Can you save enough for retirement or to pay college tuition? Have you accumulated too much debt and living paycheck to paycheck or simply making ends meet?
Is worry keeping you from enjoying your money? Absolutely!
Excessive Is Excessive
When money is in short supply, you watch every penny. But, what about when your finances are healthy and your savings and investment accounts are well stocked? Are you able to spend your hard earned money? Or, does your worry or fear cause excessive saving habits and deprive you from enjoying life?
Just as there are excessive spenders, there are excessive savers. While the latter may not seem as harmful as the former, it’s still a serious issue for many.
What’s the point of saving money if you can’t enjoy the thing you’ve worked so hard to earn?
Now, we’re not talking about frivolous, irresponsible spending. Making reasonable purchases within the scope of your earnings and budget is a healthy approach to living a full life.
It’s a Delicate Balance
Life isn’t solely about working. It’s about finding that balance between your work life and your home life. The same goes for saving and spending. Just because your bank account is full doesn’t mean you’re a better person, more successful, or smarter than the next. In fact, it doesn’t say anything of any value about you at all.
What does have value? Using it to improve the quality of your life:
- Traveling to new places
- Taking on new experiences
- Enjoying yourself
- Spending time with the people you love
The next time an opportunity presents itself, ask yourself this question. Are you willing to pass it up to see or feel better about having more money in the bank?
On the other hand, if you’ve just purchased a home or sent your child to college, it may not be the best time to take a trip abroad. Even then, spending money in the right ways can bring you joy.
So, when you have savings to spare, you have to make wise financial decisions.
The idea is to make sure that worry and fear aren’t holding you back or causing you to sacrifice unnecessarily. You’re doing a fabulous job saving smart for the future, but you also have to live well right now.