People who live within their means are often viewed as boring or dull, joyless and miserable. Like they aren’t living life to its fullest.
But I disagree.
And would argue just the opposite—that people who live beyond their means are actually more miserable in the long run, and that people who regularly save and invest, and are on track with their financial goals more generally, actually enjoy life most.
And it’s not hard to understand why.
When you’re constantly behind on bills, living in debt, failing to make progress toward your long-term goals…that sucks! It’s stressful and no fun at all. Overspending on vacations, concerts, cars, clothes or whatever else, typically produces short-term happiness at best. Fleeting hits that tend to fade fast.
With regularly saving and investing and sticking to a budget, you tend to get less of those quick hits, but what you get instead is far more lasting and durable. A sense of satisfaction and forward direction. Less stress and anxiety. Peace of mind.
And you tend to enjoy the money you do spend even more. There’s no guilt or shame or mixed feelings about spending it, because you know it’s your spending money. Money you saved up and set aside to spend on things you want and that will bring you joy.
I know it’s not as simple as making a choice to do one or the other, and there are many legitimate reasons why people find it hard to save money or stick to a budget. No judgement here.
But either way, it can still be helpful to shift your perspective around spending and to understand that in the long run overspending is no fun at all and living within your means is far more enjoyable than it might appear to be at first.
There will still be tradeoffs, you’ll need to occasionally delay gratification and use some discipline, but having the right system in place for managing your money can also help huge.
If you’re looking for some guidance on that last bit, shoot me a message!