This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Can you do both and still be financially successful?
You have a solid emergency fund
You’re on track with investing
You’re on track with retirement
You’re living below your means
You’re not funding your life with debt
You’re able to give to others and do so consistently
You manage a positive net worth that you’re actively building
And you’re wondering…
Should I buy X?
Should I splurge?
Should I loosen up a bit?
Should I have a bit of fun?
All valid questions when you’re doing everything right. A lot of advice states you should live modestly, live within your means, and not focus on luxury or anything that falls out of line with the definition of necessity.
But what do you think?
A question to contemplate is whether or not buying something or deviating from the plan will truly set you back. If you’re already on track, will the purchase (or purchases you’re considering) set you back financially? Will they compromise what you’ve built and are building towards, or would they simply be nice additions to your life?
A lot of times, people don’t splurge because they forget how to. They’re so used to living a financially disciplined life that they forget they have room to spend, splurge, and live in the moment, too.
That’s the thing about investing, saving, living below your means, and embodying a financially modest lifestyle: It’s important to prioritize saving for your future self.
But when should you also consider your present self’s desires? Is it wrong to live in the moment and plan for the future if you can do both successfully and not hurt yourself financially?
Is it wrong to drive a certain car you like? Is it wrong to buy certain clothes that are appealing to you? Is it wrong to buy something that might be a higher-than-average price but means something to you? Is it wrong to have desires that aren’t motivated by society but are genuine desires that you hold dear?
All of these questions must be decided by you.
Do you ever notice that many wealthy people drive modest cars, but they’ve also bought a few fun cars at least once? Do you ever notice that many wealthy people have likely lived in a nice home at least once? They might not always keep the luxury car or home forever – many downgrade or trade in their lifestyles, but many try it all at least once. Why? Because they wanted to experience what it feels like. Some ended up loving it more than they thought. Others give it up for something simpler because it wasn’t what they thought.
It’s consequential to question your intentions behind purchases. Are you buying it to impress others? Are you buying it because society, friends, or advertisements are telling you to buy it? Are you buying it because you genuinely like, want, and appreciate the item?
There is a way to balance living in the moment and living in the future. There is a way to do both without compromising your net worth and financial progress, but it must be done in a way that makes sense for you and your goals, and only you can make this choice.
–
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.