What Brings You More Happiness: Saving or Spending?

yourcelesttyy
11-29

An 80-year-old man living modestly in a rental flat shocked many by revealing SGD $1 million in personal savings. Despite his simple lifestyle, he finds joy in the security of his bank balance rather than spending it on material comforts.

Saving: A Path to Security

For some, saving provides peace of mind and long-term stability.

  • Psychological Benefits: Financial security can reduce stress and bring a sense of accomplishment.

  • Strict Saving Plans: Those who follow rigid savings strategies, like budgeting or investing early, often aim for financial freedom rather than immediate gratification.

Spending: A Source of Joy

Others find happiness in spending, whether on experiences, self-care, or helping loved ones.

  • Enjoying the Present: Spending can enhance quality of life, creating memories and improving well-being.

  • Balanced Philosophy: Some combine saving and spending by budgeting for essentials while indulging in occasional luxuries.

Your Take?

Happiness in Saving vs. Spending: What Do Most People Prefer?

  • Are you a strict saver, aiming for financial milestones like the SGD $1 million?

  • Or do you lean towards enjoying your hard-earned money in the present?

Let’s hear your thoughts: which philosophy brings you more happiness? 💰😊

What Brings You More Happiness: Saving or Spending?
An 80-year-old man who lives in one such rental flat leads a frugal lifestyle. Yet, unbeknownst to many, his personal savings amount to a staggering SGD $1 million! Perhaps saving money has become a source of joy in his life. Rather than using his savings to improve his living conditions, he finds greater satisfaction in the sense of security brought by a substantial bank balance. ------------- Which spending and saving philosophy resonates with you more? Do you have strict saving plans like the 80-year-old man? When will or when did you achieve SGD 1 million savings?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Eva_nana
    12-02
    Eva_nana

    At present, I am young and still want to enjoy the present moment. When my savings can achieve stable compound interest, I will strictly implement savings

  • peepie
    12-02
    peepie
    Finding balance is key.
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