Although one of my mantras is that you should be saving money, I need to be clear that saving is not the be-all and end-all of life.
Your financial goal should not be to get as much money as possible, stuffed away under your mattress or in your bank account.
I do think that saving is a good idea, but not to be taken to such an extreme that it gets in the way of living a full and enjoyable life.
Recently, one of my friends told me that she was a little embarrassed that she was thinking of replacing her car. She continued to tell me that it was quite old and run-down and starting to cost her a lot of money. She was concerned that it was not a Financially Fabulous decision as she had previously watched one of my weekly videos explaining why it was a great Financially Fabulous decision for me to sell my car and not replace it.
UGH! I felt so bad because what she did not realize, was that a good financial decision for me might not be the same for someone else. It all depends on individual circumstances.
I had owned a car for many years that I didn’t actually drive. It was literally sucking money out of my bank account for no reason. If I was actually driving my car and it was adding quality to my life, then I would not have thought of getting rid of it.
I went on to tell her that in my opinion, we should not live our lives scrimping and saving without allocating funds for living and enjoying the pleasures of life – of course within reason.
My response to my friend was to tell her to go out and buy and enjoy the car she wanted but just to make sure that she could afford the monthly payments and also to make sure to negotiate for the best price and lowest amount of interest to be paid
Being Financially Fabulous is about making good decisions that enhance your life while still making sure that you’re also putting some money away for the future.
So go ahead, go out, enjoy, have fun!