Thursday, July 21, 2011

Spending Earned Money

You've just babysat for a week, painstakingly mowed two lawns in hundred degree weather, and finally saved enough to have a sizable allowance at hand. You're at the mall with some friends and walk past the Ice Cream and Desserts shop. Do you... a) Buy an extra large sundae with sprinkles, something you normally wouldn't be able to afford b) Buy the tiny kid-sized cone to join your friends or c) Refuse to spend money and later unabashedly try to mooch off your friends' sundaes.

Which did you answer? You all know the different types of people out there, the savers, the spenders, and the in-betweens. Sometimes the spenders have no self-control and end up going broke halfway through the week. But sometimes it's the savers that never know when to spend.

I've found that people who are overly thrifty are not as satisfied as the people who freely spend their earned money. I'm talking about people who almost hoard their savings, unwilling to spend even a fraction of it unless they deem it's the best usage of their money. I think this attitude to find the most "efficient" Money For Pleasure ratio actually backfires on people who do that on a regular basis. Unless you're saving up for something more important, weekly allowances are meant to be spent and enjoyed. The fact that you're earning it yourself makes it more valuable, but I see my friends are happiest when they get to spend it on something worthwhile (blowing it all on 50 cent kid rides and gumballs at the mall, for example, is not something I would say is worthwhile. But hey, if you're that kind of person, be my guest...).

If you never spend any money, you won't feel as satisfied with the work you've done to earn it. And plus, you're more fun to hang out with when you're not afraid of occasionally spending a good chunk of money. It all depends on the occasion, I guess. It sucks to be broke, but I think it sucks even more to save and save your allowance, only to have an anvil randomly drop on your head one day and have all your hard work go to waste ;)

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