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Monday
May152017

Is It Always Better To Save The Household Budget?

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(photo credit)

Regular readers of this blog will know how much I love to save a few dollars here and there. And, there are plenty of opportunities in almost every area of life that you can find a cheaper option if you look hard enough. But the reality is that it is not always the better choice, and spending a little more now will end up saving you a lot more in the future. Let’s take a look at some of the things that will benefit your family if you stop saving and start spending.

Vacations

Penny pinching and saving for the future is important, of course. But so is your relaxation and having a chance to recuperate from the stresses and strains of everyday life. Taking a vacation once a year is vital to a family, and given that kids are not young for too long, it’s important to give them those happy memories of trips away as much as possible as they are growing up. Ultimately, taking holidays and experiencing new cultures will do your children far more good than having to stay at home throughout the entire school break up periods.

Experiences

As we discussed above, vacations are all about making memories that will live long in the minds of your children. But you don’t need to go on holiday to help your little ones create happy memories. Experiences - days out and exciting activities - will also help. Think about the biggest memories you have of being a child, and they will almost always be events, occasions, and experiences. It is unlikely to be of every birthday present you ever received, or the times you spent watching TV and videos. With this in mind, use your savings to buy your children memories they will never forget, and that also help them become more rounded individuals.

Safety

We all go through periods of parental panic when it comes to the health of our children. And if your child gets ill or has an accident, there is always a feeling that we could have done more to help them avoid it. Ultimately, the more you invest in safety equipment and protection, the better - whether it’s health insurance or a top-of-the-range car seat. Don’t let yourself regret an accident or emergency situation develop just because you have been tight on paying for the best safety products out there.

(photo credit)

Debt

A life without debt is a dream for the vast majority of people. But let’s be clear - there is a difference between debt and bad debt. The former is necessary to get your family the house they need to call a home, or to buy a car that enables you to get to work every day. The latter is certainly something to avoid, of course, but with proper financial planning, there are few reasons why your debts should turn sour. Ultimately, businesses use debt to explore growth opportunities - you should see your household finances in exactly the same way.

Celebrations

Life can be incredibly tough, and when you are saving pennies at every opportunity, where will you find your joy to compensate the pain? As long as you are careful, spending money on the occasional celebration is an absolute must. Lavish your kids once in awhile, and host the perfect party for your partner. Give joy to the people around you, and it will serve them a lot better than a few extra dollars in their inheritance.

Charity

However bad your circumstances are, or however tough you might find life, there is always someone who is suffering more than you. And giving a helping hand to those people will do you a lot of good. What goes around, comes around, as they say, and if you ever need help in the future it would be nice to think if you help someone today, someone will be there for you when the time comes. Being charitable has other benefits, too - it helps you find some meaning in life, as well as showing your children that it is good to be kind.

Enjoyment

It’s good to be frugal - and it can even be fun. But if you are saving just for the sake of it, you won’t find much to enjoy in life. As long as you are careful and only spending what you can afford, paying for things that are enjoyable will help you avoid stress, have fun times wit the family, and create those all-important memories.

Do you have any thoughts on over saving? Why not share them in the comments section below?

 

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