I spend all my money. Why save?

Question

I spend a lot of money. Pretty much spend every dollar of my pay check within a month or 2.

My thinking is this: I enjoy spending money and my hobbies are expensive. If I save up my money and I die tomorrow, then what a waste!

Is my way of thinking correct or is this a bad habit?

Answer 1

You need to save your money in order to buy something more better and expensive. If you will spend all of your money on small  things, you will have not enough money for future.

About dying, I don't think that someone going to die because it rarely happens to people. But you can do what you like to do. Everyone has their own way of life.

Answer 2

you didn't watch DisneyLand when you were little did you?

so you're not familiar with the Ants and the Grasshopper  story....

sure you could die tomorrow.. BUT what if you don't? How are you gunna live when you're old.

Answer 3

it's really up to you. I mean if you save it and you die then you see the unused money as a waste, on the other hand you don't have any extra money to have just in case.

I like to have a little bit of extra cash, just in case, or just to save up for something nice that I feel I earned.

Answer 4

strange that you said you spend all your check within a month or 2!!!..........most prople would have got 3 or 4 checks by then!

Answer 5

I used to do the same thing but as I got older, found that it was very unfulfilling to have no savings to show for all of my hard work. Not only that, extreme situations can happen that require a lot of money and there wont be any to fall back on. You will then be looking at all the "things" around you & kicking yourself for putting yourself in such a hole. I've found that no one can tell a person this, it's just one of those things you'll probably have to learn for yourself. Good luck!

Answer 6

Are you planning on dying tomorrow ?  If not someday you'll wish you had saved some of that money.

      You never know what life will bring . you could die tomorrow . or you could live a long life and want some of that money for your retirement.

         Are you single ? will you stay single all your life ? what about cars , children , a house?

   Your life style would be great ...If you could see the future.

   We save money for many reasons . But I save it ,because I never know what the future has in store for me . You don't have to save it all . You should enjoy yourself . Just save a little each week .  keep having fun .. just cover your butt.

Answer 7

Bad....bad....bad

you should save a little and use a little and dont be greedy man

Answer 8

What if you didn't die and become disable for 3-6 months? Those money you just spent on your expensive hobbies will come handy, will it? In addition, the way you spend your money scare girls away, no dream , no plan, not think of future. It doesn't take you far from being a loser.

Don't you want that nice car? save that money,

Don't you ever want to own a house? save that money.

Don't you want to retire by the age of 39? save that money

Don't you want to.... blah ....

Answer 9

because you can save up and buy something big e.g. a lovely holiday

one day you will want a lot of money for something and it will have been spent on trivial things.

Answer 10

you are 100% correct

saving demonstrates a lack of faith.  Faith in your own skills. ability to survive, get another job, find somewhere to live etc.  also Faith in your God to look after you come what may.

if none of us saved, then nobody could borrow from a bank because the banks would have no money to lend.  All loans would be personal, family or friends.  This might not be a bad thing, especially bearing in mind the current sub-prime fiasco.

better to spend it all, providing work for other people, if they spend too, it will give us all a job as well.  (not forgetting our 10% donations to charity)

Answer 11

i think your right .... the system wants u to not spend and save just for that reason ... i say if u have it spend it .. we were not put on this earth to work out lives away but rather make what we want with ourselves .... if anyone tells u different ... they are working to die

Answer 12

Get out of the bad habit spending money unless you have a saving account with lots of money.. It is okay to spend money but it is wise to save for short and long range plan.Just image having three months rent in your saving account that will make you feel good not worry about living on paycheck to paycheck. Start saving with $1.00 a day Be the one who can control the money. Anyone can die today bottom line is to have a plan and stick to it without fail.

Answer 13

When you buy something for your expensive hobby, do you use it that same day and try to get as much enjoyment out of it as you possibly can under the assumption that you may die tomorrow and won't be able to use it anymore?

Is your paycheck for working more than one day at a time? What if you were to die the day before you got paid? Wouldn't that be a waste to spend all those days working and die before you got paid?

If you ever plan on buying anything that's going to cost more than 1 paycheck, you're going to have to get used to saving some money out of each check to pay for it.

Saving money for the future can mean the difference between owning your own home someday or paying rent to someone else for the rest of your life.

Face it. If you die tomorrow it doesn't matter if it's money in the bank, or expensive items you have bought . You won't be able to use either of them anymore. It's a waste either way.

Answer 14

It's always good to have extra money and use it only if need it.If you have a lot  when you die someone else will enjoy it,not that i have any myself,mine goes faster then it comes.

Answer 15

Most of the case we depend other,

If no one is depend on you, save less..

If someone is depend you, save more..

in anyway saving is necessary. we may not predict the tomorrows expense..

Answer 16

HMM, what if you loose your job, you could use the money u saved till you get another job. I am a spend thrift my self, but i do save maybe say abt 10 percent of my salary, just in case. And if you die tomorrow, donate to charity, at least they wont curse you, simple. Dont save so much, but keep some for emergencies. What if you have a punctured tyre or some car problem, or doctor's appointment. Hope you get the idea

Answer 17

nah i agree with you money is made to be spent... why work and not enjoy the fruits of your labours ? no point hoarding it all away you may never get the benefits of it.... kick back relax and let the good times roll i reckon, life and society are a worry enough today without the added stress of worrying about tomoro :)

Answer 18

the reason why you need to save money so you can buy a house and lot and a new sports car and in the future get married so when you die your family has money to spend so they wont be poor (sorry if you got offended)

Answer 19

leave a sum of money for the kids as educational fee

Answer 20

you have the wrong idea of saving money, and its not a waste,  i will give you a taste of why savings is not a waste of money. can you imagine you went shopping one day and you pass a window and in that window in big bold letters says a fortnight full board holiday cruise to the north pole for any adults aged 20+ full board with a 5 star hotel  accomodation and including spending money £1,000  you are suprise  you think crikey i havent got that sort of money or a bank account thats reasonable,  you wished you saved it up and then you could of had that holiday, what you are doing now is a bad habit. and if you die that day or any other day at least you are not being silly with your money, or there will come a day when you are older and your pension will not be enough to live on, come on wake up start saving and get silly foolish notions out of your head.

Answer 21

You need to plan ahead for the unexpected.

A rainy day is when you need some extra money.

People's rainy days are accidents, theft, old age, etc.

Answer 22

depending.....If your ready to settle down i suggest you start saving but if you wanna enjoy every bit you should.I think like you too but i have a hidden stash for rainy days which you will come upon some time in your life.

Answer 23

It's a bad habit, the possibility of you dying tommorrow is a pretty low risk. If you save your money, you earn more money. You should take the risk of saving knowing that you took a chance, that's what makes a real man and women. And if something did happen to you, at least your saved money goes to your family, don't be greedy, share, and think openly.