April 17, 2011

Mad Money

I recently got my statement for my 403b account and it turns out I have a few bucks in there and the first thing that came to my mind is "I hope I live long enough to see this money." I work hard to put away money for my future and who knows if ill make it to 65..Morbid? Yea, but I've seen too many young people be taken much too soon to not have the thought cross my mind.

I think some people put way too much pressure on themselves to save save save. Ofcourse, it is important but it is also important to live NOW. There can be a happy balance. For example, when I first graduated I thought I had to put all my money towards my loans to pay them off as quickly as possible. I did put a good part of my salary towards it and barely made a dent. I have come to the realization that I'll probably be paying them off for the majority of my life and I'm ok with that. I'd rather pay the minimum balances to keep my credit and take the money that I keep to travel and do things that make me happy. I think it makes more sense to not stress about paying off your total bill balance all at once every single time, it's ok to have a little mad money to live your life the way you want. That's what it's all about. Yes, sometimes you end up paying a little more with interest but its a sacrifice I am willing to make sometimes. (I know a few narotic family members that are cringing at the thought) We work hard and should enjoy the benefits of our labor. Plan for your future but dont put all your eggs in one basket and have that be your only goal. Balance. No one is promised tomorrow so enjoy your life today. If you really want to do something and you have the means to make it happen, make the minimum payments that month and do it..your bills will still be there when you get back and the companies will still take your money. I promise. Life is too short. We can be responsible, plan and have fun all at the same time.

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