How do you balance being frugal with actually wanting to…
0 reactions
How do you balance being frugal with actually wanting to build wealth ?
Right now I’m trying to become much more mindful about my spending, but I’ve realized that I’m not actually that interested in saving money as an end in itself lol. What I really want is to increase the value of what I already have, earn more, invest intelligently and generally build wealth.
I grew up with saving being pretty important. My parents were students when I was born and were trying to establish themselves professionally in a foreign labour market, so being careful with money was just a normal part of life. And obviously I still think having savings, avoiding unnecessary expenses and not wasting money are important.
But I don’t really want my financial goal to be “how little can I spend?” I’d rather ask whether what I’m spending actually adds value to my life, while putting much more energy into increasing my income and assets. I suppose the actual goal is financial growth rather than frugality.
Basically, I want to be rich 😂 Realistically I probably never will be, but that’s much more motivating to me than becoming exceptionally good at saving €3 on groceries.
The problem is that when I’ve focused on “how can I be more frugal?” in the past, frugality itself somehow became the focus. I started thinking about how to spend less when it would have been better to think about how to earn more.
At the same time, when I look at my spending now, there are absolutely unnecessary purchases that I’d like to cut out. Not because I want to deprive myself or maximize my savings rate, but because I’d rather have that money available for investments, experiences, useful purchases or other things I genuinely value.
For people who think similarly: how do you balance those mindsets? How do you use frugality as a tool without letting saving and cost-cutting become the entire financial goal?
And why do I want to be rich: Because I’m also used to having to think about everything. Money is freedom and an ability to invest, even in other people.
#finance
source
Right now I’m trying to become much more mindful about my spending, but I’ve realized that I’m not actually that interested in saving money as an end in itself lol. What I really want is to increase the value of what I already have, earn more, invest intelligently and generally build wealth.
I grew up with saving being pretty important. My parents were students when I was born and were trying to establish themselves professionally in a foreign labour market, so being careful with money was just a normal part of life. And obviously I still think having savings, avoiding unnecessary expenses and not wasting money are important.
But I don’t really want my financial goal to be “how little can I spend?” I’d rather ask whether what I’m spending actually adds value to my life, while putting much more energy into increasing my income and assets. I suppose the actual goal is financial growth rather than frugality.
Basically, I want to be rich 😂 Realistically I probably never will be, but that’s much more motivating to me than becoming exceptionally good at saving €3 on groceries.
The problem is that when I’ve focused on “how can I be more frugal?” in the past, frugality itself somehow became the focus. I started thinking about how to spend less when it would have been better to think about how to earn more.
At the same time, when I look at my spending now, there are absolutely unnecessary purchases that I’d like to cut out. Not because I want to deprive myself or maximize my savings rate, but because I’d rather have that money available for investments, experiences, useful purchases or other things I genuinely value.
For people who think similarly: how do you balance those mindsets? How do you use frugality as a tool without letting saving and cost-cutting become the entire financial goal?
And why do I want to be rich: Because I’m also used to having to think about everything. Money is freedom and an ability to invest, even in other people.
#finance
source
| 3,000 mlx | |
| 5 | |
| 0 |