I read this interesting article, suggesting that spending is as important as saving. You have heard of buyer’s remorse, but holding back too much will lead to regrets years later as well. Here is the article:
If You Save Too Much — You Might Regret It Later!
Well, I will give you one more reason to spend at recession like ours right now. You know one way the US is handling the foreign debt is to simply print more dollar bills? How much are they printing? Hold your breath, and watch this fox news clip.
Of course the US government is doing a lot more other things for the economy, but this bill-printing fact worries many. You may be saving a lot right now by not buying this and that (hopefully not leaving regrets), but in a year or so you may end up having only half of your wealth due to inflation.
Scary stuff. What to do? I think you should buy what is needed such that you can live an enjoyable life. (An enjoyable life doesn’t necessarily mean a luxurious life, as many family bonding moments take place during tough times.) At the same time, save some money for a rainy day. Staying home and getting social security is not a bad idea either.
As always, it’s better to give than to receive. 😉