What’s better than having a thousand dollars? Enjoying a wonderful experience with loved ones. Most of the time we get so caught up in trying to manage every dollar in our accounts that we forget what life is all about. Don’t get me wrong financial management is crucial in everyone’s life but enjoying life and creating great memories is even more important. Nobody wants to be that old guy who is always wishing he could go back in time and do all the things he missed out on in his youth. It can be quite devastating to look back at your life and not find any memorable experiences that you can share with your grandkids all because you were too busy you were too focused on saving every dollar.
The great thing about having a great time is that most of the time you don’t need to spend money and the few times that you do have to spend money it is usually not that much. Of course, there are probably some that feel that in order to have a great time you need to go all out and buy an $800,000 sports car and dash through highways at 200+ km/h. But, for most people, a great time can be as simple as getting the family together and cruising on the lake with a speedboat. If you need to spend a few bucks in order to have a great time, then you shouldn’t feel like you are cheating or setting yourself up to fail financially. As long as you are not consistently spending more than a reasonable amount of money then it’s okay to occasionally treat yourself and just have a good time the rewards are much more than simply saving all your money or buying material things that will soon depreciate and be of no value to you. In fact, research has found that people are happier when they spend money on experiences rather than material items. If you do not believe that then just go ahead and give it a try, take a certain amount of money and go buy something that you feel will bring you happiness and take that same amount of money and do something you’ve never done before or always wanted to do. I can guarantee that if you have a great experience then you will feel better and happier than you did when you purchased the material item.
It is a good idea to manage your money well but at the same time, we must remember to not substitute great experiences for more money. At the end of the day the happier people are the ones who had great experiences because they can never be lost, money, on the other hand, can be lost at any given time so in this sense, those who invest in experiences are wealthier than those who invest money. Now, this is not to say that you should forget about investing money altogether and just partying all day every day, certainly not! I encourage to invest your money and save your money but never let it be your only focus.