Saturday, May 14, 2011

Is It Better to Save Wisely or Spend Wisely?

So it's been a few months since I've posted to this blog.  A lot of things have been going on, but I'm still happily pressing forward and looking for new ways to retire faster.  Being unemployed right now has given me a slight preview of what retirement could be like, so I know one thing: I won't be the person that just retires and then does nothing.  It's just way too boring.

What prompted me to post a new entry was a couple of articles: one discussed how people can save money in their normal everyday lives, and the other discussed the changes that the wealthy have made in their spending habits in the past few years.  What piqued my interest is how the articles pointed out a very obvious point: almost everyone was hit hard by the recession, yet it seems that the habits that people are trying to change are different based on income.  People that make more money (according to the article) have transitioned to being more cautious about their purchases and finding more value in what they buy, where the article that was targeted for the lower to middle class listed 22 tips to save $100 / week.

Now I could spend my time going through every item on this list and trying as hard as I can to save $100 / week, or I could take that time and effort and either put it into something that may put well more $ than that in my pocket.  Or I could take that time and effort and reinvest it into the things that really matter most, like my family or my education.