Member-only story
Why Moderate Spending Isn’t That Bad After All
For someone who works a 9 to 5 job and lives from one paycheck to another, spending money is always accompanied by a sense of guilt. In my life, I have come across people who question me when I buy things.
How Can You Afford That?
The answer is simple. It’s one word — “Choice”. While my co-worker is earning the same salary as mine, how can I afford a car that they cannot afford? It is the difference of choices. I chose to have a smaller house, chose to live a child-free lifestyle and chose to limit my spending in other areas, say, for example, I do not spend a lot of money on clothes.
But… Rich People Are Usually Stingy
This is something you might have heard always — “people who are rich are stingy because they value their money”. Frankly, no! There are rich people who are stingy and there are also rich people who live a flamboyant lifestyle.
For example, one of my uncles was the richest in our family. He had several properties, lived in a big house and had a huge bank account. But he died sleeping on a bed on the floor, and ate food from kiosks in the street before that happened. Yes, he had a lot of money, but what was the point? Nothing.
Alexander the Great asked to have his hands up and empty when he died, just to remind the world that he left with none of his possessions. The statement that rich people are stingy is a myth, because while some of them are, it does not classify the majority under the same umbrella.
Spending Vs. Saving
Saving money is a great thing to do. Most financial institutions encourage you to save money. Technically, when you save more money, you end up keeping it in the bank, and the bank ends up having more money. That is one of the major reasons they encourage you to save.
Of course, overspending is bad for anyone, but moderate spending is definitely good. People who save too much end up being depressed and at…
