This article was written about a week ago...sorry it took so long to post!
I read an article yesterday that struck me. It is entitled "Millionaires in the Making: The Rodrigueses. The put more than half of their income into savings, rarely travel, and share one entree when the eat out. Now, most of you who who've met me know that I am a huge fan of fiscal responsibility, but I think there is a point where it can get out of control. I'm not saying the couple in this article has not found that balance, since it is different for everyone, but I used to think I wanted to live this way...saving everything I could for later.
Don't get me wrong, I still believe in delayed gratification; but I also believe in living for today and never holding back. I thought about this a lot as I pondered buying a motorcycle this weekend. Sadly, the only bike in my price range was not what I was looking for, but I am thankful for all the deep thinking the eve of this purchase brought with it. You see, I have no idea how long I will be allowed to live on this earth, or how long I will be able to experience this precious gift we humans call a life. I could live til I'm 100, or I could leave this world long before that. I don't know. This thought both scares the crap out of me, and yet gives me an odd sense of peace. I believe it is important to have a healthy fear of everything, but not to allow that fear to hold you back from life. Just as I don't want the danger of flying in an airplane to keep me from embarking on all the travel I want to experience, I also don't want my fear of future financial security to keep me from truly enjoying life today. I definitely want to live within my means, and I do not think there should be any other way, but I also want to take fun and romantic vacations, go out to dinner once in a while, and live in a house where I truly feel I am at home.
I think a great formula for this way of life was discussed one on of my favorite personal finance sites, Get Rich Slowly. It is called the Balanced Money Formula. Basically, it calls for spending 50% of ones income on needs (rent, groceries, utilities, car insurance, etc.), 30% on wants (dining, travel, cable tv, etc.), and 20% goes toward either paying off past consumer debt or saving for the future. Now, there are times when this may be out of proportion. For example, I am saving for several future items: a wedding, a house down payment, paying off my student loan once I finish graduate school, a replacement car, motorcycle, anniversary travel. So at this point, I will take part of that 30% and put it toward future wants. Hopefully this makes sense in print as much as it does inside my head.
My basic point is that I want my life to be sustainable: living in a desired way without stealing from my future. I want to be able to live life to the fullest, every day...for as long as I am blessed to be here.
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