Invest In The Life You Lead
An interesting article on MSN Money this week wrote about spending money on the life we actually lead, as opposed to the life we want to be leading. That might sound foreign initially, but consider this; I have four pairs of heels and never go anywhere that requires them. A pair of heels in my hometown would be a sight unseen. The writer of the article mentions the fortune we spend on hobbies we never seriously pursue (roller skating, photography and making my own pasta in my own case). Here are some thoughts on investing in the life we live.
Your Everyday Life
The article suggests buying things for the life we live everyday, as opposed to the life we lead once in a while. It’s not a bad way to look at the way we spend a lot of our time, and our money. We wear cheap clothes that can run into rags quickly for our nine to five jobs, which we attend 5 days a week, and then invest a serious amount of money in a dress we might wear a couple of times a year. The other stunning example is my running shoes. Like the author of the MSN article, I would wear them most days and give them a pretty good workout. They’re falling to pieces, but I seem to spend the money instead on a pretty pair of heels. Ironically, we would probably have a much better chance of living the lifestyle we desire (whether it’s more international trips, an investment property or a chance to do up your own home) by investing in our current lives and making wiser financial decisions.
Your Health
Amazing how I spend a chunk of money on a nice bottle of wine and some cheese, but scrimp and save over vegetables. Which, in the long-run, is a better investment? It’s a no-brainer. Of course, luxury is great. Having some of it in our lives is important. But not at the expense of necessities. Wealth isn’t necessarily about what we have or how much status our objects give us- financial freedom goes far deeper than that and can be achieved by abandoning competition with the Jones’ and living our own lives to their utmost. Imagine missing the dentist because of the cost, but still heading out for a nice dinner which costs around the same.
Life-Rich
Another big example is people buying a house that ‘everyone can stay in’. Meaning a house big enough to accommodate the family at Christmas or being able to have everyone to stay over for a big birthday celebration. It’s a lovely thought, but chances are you’ll be paying the mortgage on a house too big for you most times during the year. Your house should suit you. If you’ve got house guests every weekend, then a spare room is logical. If not, buy a house that is the right size for you- you’ll have greater opportunities in terms of location or saving a greater percentage of the cost of purchase. Appreciating the life we live now is a great thing, for both our wellbeing and our wallets.
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