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- Saving Now vs Enjoying Life š¤ šø
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š Hey guys - Noah here,
In todayās edition, we are looking at
šø The paradox of saving money vs enjoying life
š¤ A solution to allow for both enjoying life + investing
šø Saving Money vs Enjoying Life
In some episodes of my recent TikTok series āred flag green flagā I asked many people for their opinions of this statementā¦
āThey think itās better to spend money now and just enjoy your life, and worry about saving money in the futureā
Most people said this was a green flag. š¤
In fact, I would say that most young people would say that investing for your future isnāt worth the sacrifice their current life enjoyment.
After all, you only live once right? You may as well live life as it comesā¦
šø What if we rethink the question?
People often view the problem as one of two extremesā¦
āI have to live a very boring life, living below my means, saving AS MUCH as I can so I can retire with lots.ā
or
āI will just spend my money however I feel now and worry about retirement when Iām olderā
But it doesnāt have to be like this. The key is actually finding the balance. āļø
But Noah, how do I find the balance?
Iāve figured out three steps to help you figure this out for yourself.
Three steps to both MASSIVELY enjoy your life, whilst saving and investing wisely.
Step One: Get Over Your Want Of Materialistic Thingsā¦ ā
I recently saw a BRILLIANT post from my good mate Jatzā¦.
We live in a consumerist culture.
Marketers and social media will always tempt us into wanting the next best thing.
When we fall into this trap, we end up in a cycle of constantly wanting more and more. Itās never enough. And we can never truly find happinessā¦
I like to read the Bible, and I think this verse sums it up well.
"Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless." - Ecclesiastes 5:10
I recently have listened to comedian Jimmy Carr on a bunch of Podcasts. This quote he said on one of them really stood out to meā¦
āThere is nothing you can buy in a shopping mall that you will give a fu*k about in 10 years. Nothing. Thereās nothing for you there. Fast forward, do something for you in 5 years time. Donāt buy the thing. You donāt need it.ā - Jimmy Carr
However, I do think there are cases where it can be smart to splurge your cash and live in the present momentā¦
Step Two: Find The Things Itās Worth Spending Money Onā¦
I believe there are areas itās worth not holding back on. Areas you should spend BIG on today.
Above any other purchase Iāve made, I will never regret the purchases Iāve made that fall into these categories:
āļø Travelling (especially with friends or family)
šļøāāļø Health + fitness
š„³ Any sort of experience (festivals, theme parks, days out)
šØāš©āš§āš¦ Purchases for my family, friends and girl friend
šø Charity
Notice how many of these things are not materialistic?
Iāve certainly bought one too many pairs of shoes in the past and regretted it.
But Iāve never regretted spending that extra little bit on things that will stay with me forever.
Last October me and my Girlfriend went around the USA for nearly 3 weeks. This is a purchase I will NEVER regret! The memories will stay with me forever.
Or the time when me and my friends finished our examsā¦ We all combined funds to go on an awesome holiday in Cornwall. We rented out a house with a hot tub, pool etcā¦
I still look back in wonder at this holiday today! It was such a rare and valuable thing to do, before all my mates went off to Uni. Spending that money is never something I will regret.
So I urge you. Think about the areas you can spend on today that GENUINELY will bring you a long term, deep sense of happiness.
Make a list of the things that deeply matter to you. You saw my list.
Then be ruthless in cutting out other expenses that you donāt actually need.
Things I donāt actually need:
Nice brandā clothing, fancy cars, basically anything that I would buy to get others to ālike meā.
Fancy cars
The latest shoes
Expensive jewellery
You then find a balance. āļø
š¤ Use the money you save on not buying dumb things to invest.
š Spend in the moment on things that bring you deep senses of fulfilment and belonging
Step Three: Realise Some Of The Best Things In Life Are Free
Finally one thing Iāve started to realise lately is that, some things in life can bring us so much joy - yet they donāt cost a penny.
They might cost something, but not money. Instead they will cost your time, dedication or will power.
Free things that bring me happiness
š¶ Going for a walk with your family or loved ones.
š¬ Meeting your mate at yours and watching a movie
š Reading a good book (we all have tons in our homes)
š¤² Meditation or prayer
All of this things cost us leaving behind our short term desires, but can bring a FAR DEEPER sense of joy.
Conclusion
Itās important to find a balance between living life in the present and saving for your future.
Being more intentional with how + where you spend your money.
Finding happiness doesnāt always have to come though spending money, you might have to spend something else.
Living in the moment and saving/ investing is doable! It requires work.
If you want to start learn step by step how to sort out your finances + build a new stream of income, consider applying to join my Skool community waitlist here.
If you have any questions or thoughts, please reply to this email. I reply to everyone.
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