You work and earn money, which you can then spend however you please. But because of the rising cost of living, you can’t just spend your money without thinking of tomorrow. It might not be enough as is, and if you continue to spend on unnecessary purchases, you might find yourself in debt.
Experts emphasize the importance of saving first, but does this mean giving yourself the bare minimum? It’s your hard-earned money, and in some cases, it can buy you happiness.
Improving Your Comfort
You can buy the cheapest clothes and shoes and replace them only when necessary. This has a direct impact on your confidence and self-esteem. If you can’t treat yourself to high-quality clothes, who else would? More importantly, some of these items improve your comfort. Steel-toe boots, wool socks, and even a quality raincoat can save you from hurting toes, stinky feet, and soaked back at the end of the day. If it’s for your own health and safety, no one can tell you these expenses are not worth it.
Helping Others in Need
Think you can’t give to the needy because you’re not rich? Generosity and kindness know no socio-economic bracket and in fact, it’s not the top one percent who are most generous. You can help in your own way even if it’s just donating to a local charity or buying a meal for that homeless man on your block. You’re spending money, but you’re gaining positive points without expecting anything in return. You’ll feel humbled and thankful that, even if you’re not rich, you earn enough for your basic needs with some leftover to help others.
Investing in What You Love
If we know one thing, it’s that we’re all going to face death someday. It comes sooner for others, which is just unfortunate if you haven’t lived a life you truly enjoyed. With the uncertainty of your future, it can’t be taken against you if you want to spend a portion of your income on things you love. If you have a profound interest in education, for instance, go ahead and keep learning. Invest in tools for your hobby. Buy new equipment to hone your skills. Even if they are not profitable in the monetary sense, the happiness you get from them is enough to make the expense worth it.
Saving up for Rainy Days
There will come a time when you can’t work full-time anymore. That means your income will be reduced, and if you don’t manage your expenses you will not survive long without substantial savings. Think of saving as investing in your future self. What you don’t need to spend right now can go into your retirement fund instead of being wasted on splurges that do not improve your life in the long term. Here, you feel happy knowing you will not be left wanting in your senior years, and when you reach that age, you’ll also feel happy and thankful for your insight.
Money can’t buy happiness itself, but you can use it to pay for things that will make your life better. Caring for your needs is a source of happiness too, so you still win even if you spend.