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?

avatarMrzorro
12-03 20:36
I don't think I will even reach 6 digits. Don't even say 1M. For me , I will focus more on saving and spending on necessary  or basic living stuff. ( Since I have a kid, I will prioritize on the family and save as much as I can for them) I do invest some of my saving in the stock market (even though it is deep red) I believe one day I will achieve my target of 6 digits. Everyone have their own goal and timing. As for me, I won't rush for it. Just let it grow naturally. As long as I can cover my family expenses and have extra savings, I am a happy man. Most of my friend bank account is empty every month without any savings.
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avatarsgfiftyfive
12-01
I disagree with the old man's philosophy of living. Money is being printed in large numbers and don't hold any value that the functionality of it to purchase items of necessity, joy & fun. It pays the bills of self & family and to run a home. It could have been more than 1 million if it was invested and the compounded yield & interest would be a higher figure. I'll rather invest the 1 million dollars while living in a comfortable home with a frugal lifestyle. But kudos to the old man for his results of a big amount of savings, I'm so far from that. 😆
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avatarZEROHERO
12-01
Earn all we can, save all we can, invest all we can and and most importantly, give all we can. For we bring nothing into this world and certainly we can bring nothing out of it. Living in a first world country gives us an edge to perform better so we shouldn’t forget those marginalised. We can’t choose how we start our life journey on earth but we can choose how to end well. It’s more blessed to give than to receive 🙏 @CaptainTiger @Andreana @jace0777 @SPACE ROCKET @Terra Incognita
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avatarJozzzz
12-01
People forget life is for living and money is for circulating. I live life, have 2 kids, condo, car, and still have $1M at 30

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avatarAmelia Yong
12-01
Very difficult to have strict saving plans when one have children, there are many unexpected expenses along the way. If include SRS and CPF OA & SA savings , I would have achieve the million milestone during my 40s. I don’t quite agree to that famous saying, so long you’re still young at heart and still healthy, there isn’t much difference just that you need to go travelling with companion with the same mindset.
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avatarBummer
12-01
Personally I feel that, once the risks of critical illnesses and medical expenses have been transferred to insurance companies through various policies. I can spend and enjoy at least 50% of my income, save the other 20% after setting aside 30% for investments. There is no point to watch the numbers grow but your downside is uncovered.
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avatarMickey082024
12-01
stay in HDB is right choice for ppl who are smart to balance their lifestyle and not overspending on luxury goods but not much of value interm of investment ROI. People who Smart with their money, have more cash to invest and also enjoy their vacation and needs. some people who want face value will spend on cars, luxury accessories and stay rental in condo is very common nowadays, The question is all this spending bring what? spending your money on thing that is needed and at the same time invest for long term will help you built up the fortune faster and to achieve financial freedom faster. One with Yolo mindset might regret eventually, spend now , enjoy now don't plans for future is dangerous. we all have to think and plan for the future, spend wisely and enjoy long terms.... Not enjoy
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avatarBrenT
12-01
Should leave a balanced life as frankly we need to plan for it yet we also won’t know when it will end
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avatarNickpla
12-01
When I achieve a million, my passive income can feed my lifestyle.
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avatar1PC
12-01
Wow 😼 Impressive discipline for the 80 years old uncle 👍. I prefer to have Balance savings and indulge in between to Reward myself ...like Took Profits from the Winning Trades [Happy] [Miser].  I'm still striving for the magic 7 digits numbers [Speechless] [Sad] [Facepalm]....But in between, 5 digits numbers are the Smaller Goal đŸ„… to aim. Eventually will slowly Roll đŸ„ Up 📈 to 6 Digits....then Hooray 7 Digits [Chuckle] [Chuckle] [Chuckle]
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avatarphagefish
12-01
invest just $500k under tiger platform will greatly improve the quality of life in those rental flats.
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avatar168Prem
12-01
Yes that's the way, abuse the system meant for people who needs the rental homes and save money, let's attend the masterclass by Million Uncle. How to continue living in rental HDB and save a Million SGD.
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avatarHengHeng98
12-01
Yes yes. That $1m is reserved for his doctors.
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avataryourcelesttyy
11-29

What Brings You More Happiness: Saving or Spending?

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 im
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What Brings You More Happiness: Saving or Spending?
avatarSPOT_ON
11-29
Saving definitely for me !!!  Paying others make others richer while making myself poorer !! @DiAngel   @rL   @MHh   @melson  
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avatarAN88
11-29
Saving and making money work for me like investing. Spending wisely make me happy 
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avatarfir3tiger
11-28
earn and spend and save all moderately
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avatarUltrahisham
11-28
The Happiness Quotient: Spending vs Saving The relationship between financial behavior—specifically saving versus spending—and personal happiness has been extensively studied, revealing nuanced insights into how each impacts well-being. The Psychological Benefits of Saving Accumulating savings provides a sense of financial security, which is closely linked to increased happiness. A survey by Ally Bank found that individuals with savings accounts were 31% more likely to describe themselves as “extremely happy” or “very happy” compared to those without savings accounts. Notably, 57% of respondents with over $100,000 in savings reported high levels of happiness, whereas only 34% of those with less than $20,000 in savings felt the same ïżŒ. This suggests that having a financial cushion can allev
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avatarEmotional Investor
11-28
So i started my tiger jouRney with NZ$10,000. In the last 6 months it has grown to NZ$49,000. so im rather happy with the investment approach i developed using the demo account, and continue to refine in the live account. Have i been saving money? No, atm my expenses exceed my income so ive had to dip into my savings. But im still floating on top of the waves. My initial goal was to double my money in a year, this goal is now ancient history. My new goal is to generate a monthly income of $8,000 minimum. This would mean i could give up my day job, pay all my bills and save around $500 a week. But wait theres more... once i get my portfolio to $250,000 i intend to spend to save. Its a simple plan really, currently over half of my income is used up on rent. So im going to buy a nice RV for a
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