do you invest your money to buy luxurious items or for future saving plans?

@ksmita (481)
India
February 19, 2010 7:32am CST
hi. i have heard many people say that we should live in present as we don't know what's stored in future for us . so they spend lots of money on stylish mobiles, high standard of living, parties etc..is it right ..i personally feel that we should secure our future by saving today. what you say... do you spend more or save more?
10 responses
@GADHISUNU (2164)
• India
19 Feb 10
Personally I would love to save.For that matter, things I love to buy are very few, like books for example are an addiction for me. If I have money that I can spare I first look to saving. But what has been really happening in my life is there are expenses ahead of any great windfalls, so often I keep chasing my expenses like it is always the case for the salaried class. Even before a wage revision is through an money is ther on your hands there are idwntified heads of debts to be paid off!?! To this add the presence of my wife who always feels unless money is blown up on luxuries, it is not life well lived at all. The wife-based expenses are the greatest drain on my resources. my intelligence is helpless or even useless, in preventing this kind of drain.
@megamatt (14333)
• United States
19 Feb 10
I am the type who invests my money for saving, as opposed to spending on the luxurious items of life. I live a lot of my life as it regards to money by one simple statement. And that statement is, "it's not what you make, it's what you save." To be honest, there are a lot of items that would be nice to have. However, much like anything else we buy, they might only be nice to have for a certain amount of time. Then they just become just another thing that is taking up space and eating up money that could be used. If an emergency comes, those fancy luxuries will not be of much help. If the money has been saved, then it will be there, whenever disaster strikes at the worst possible time. And believe me, disaster always strikes at the worst possible time.
1 person likes this
@hbk2244 (180)
• United States
19 Feb 10
I feel like you have to find a happy medium. Life is not any fun if you never spend money and let your hair down. At the same time, if all you do is spend and live paycheck to paycheck, you can really hurt yourself in the long run. If you can find that happy medium, you can kinda have your cake and eat it to.
1 person likes this
@timasma (123)
• Poland
19 Feb 10
I always try to save some for a rainy day, I also like to have the luxury items but I really try to make once in a blue moon. Is not easy to save money when you have kids always asking for something or needing something new as the outgrow their clothes and shoes. But I don't thing is right to live for today, we never know what tomorrow brings, and if we have an emergency is best to have a little cash saved up.
1 person likes this
@towongfoo27 (2989)
• United States
19 Feb 10
I do not invest my money to buy many luxurious items, for I don't have much to begin with. Since I lost my job at the sushi place, I now live on Va Disability due to physical injuries and wear and tear in the army. It is not much, but it pays the bills. While I don't have a savings account, I also am not a big spender unless I really need something. Items like mouthwash, food, or stamps. Yet every once in awhile, I will buy something nice for myself, but not before checking the price. Usually these items I decide to purchase don't go above twenty dollars, and I usually buy them at Walmart, Aldis, Kmart, or thirft stores. For example, the next time I go to Walmart, I want to buy a coffee grinder, for my mom tells me it is perfect to alsi grind up flax seed. It would be nice to have, so I can be healthier and get my omega threes, in addition to grinding my own coffee. Speaking of money, I cannot wait till I get my federal income tax return! I will of course put it in my bank account, but maybe I will also treat myself to a little something nice. I also believe that quality of supposed luxurious items doesn't depend on price if you know how to shop.
@ksmita (481)
• India
19 Feb 10
hi towongfoo. thanks for responding. the need for savings depends on our situation ,i guess. i hope you get your tax return soon but before that get well soon. good health is definetly the greatest wealth. take care. happy mylotting.
• Philippines
21 Apr 10
I always wanted to save for the rainy days but the influence of those wants are very strong and I give-in sometimes..
@myzire72 (1157)
• Singapore
20 Feb 10
I don't spend on unnecessary luxury items. I have always believed in the merit of saving for a rainy day. You never know when you will need the money one day. Therefore, I lead a thrifty life, but not at the expense of skimping on basic necessities, of course.
@myzire72 (1157)
• Singapore
20 Feb 10
No, I don't spend on unnecessary luxury items. I believe in the merit of saving for a rainy day. You never know when you will need the money one day. I lead a thrifty life, but not at the expense of skimming on the basic necessities, of course.
@earth2jacq (1503)
• Philippines
20 Feb 10
I save for things that I want like new mobile phones or a plasma tv. I invest as in buying stocks, opening high yield savings accounts, finding online sites that pay- for my future. I personally don't believe in living in the present regarding the uncontrollable spending. I think it is with this thinking why many millionaires like Mike Tyson and Courtney Love are now poor. It's not bad to buy luxurious things but don't spend it all at once.
@tarapot (144)
• Philippines
19 Feb 10
I save more money than spending because I always think what the future will bring. It is better to be ready. It is not wrong to spend for luxurious things but on an acceptable level.