After more than 60 days in lockdown we have had a long time to think about many things, including money. We’ve seen how important it is to have enough to get by. Those who lost some or all of their income had to learn how to stretch their provisions to meet with their basic needs forgoing the niceties which were so taken for granted.
Peace of mind is the ultimate
When you really think about it we all just want peace of mind at the end of the day. We take comfort in the knowledge that we have enough provisions to maintain our lifestyles no matter what happens along the way. An excessive lifestyle comes at a cost, not only to attain but then maintain.It also has the trappings of taking more of your time. Time which could be spent on other aspects of living. So, contentment is found in maintaining an ordinary lifestyle not having to worry about keeping up with your financial needs. Being in a position to buy a house and a car, educate your children, go on a holiday once in a while, all without worrying about money.
Aim for something realistic
So, it becomes more important to clearly define what your lifestyle objectives are and then start to save towards them. It takes a hard and realistic conversation with yourself to discover what you really want and then why you want them. The higher you aim the more you will have to provide for over time. So, the answers will be found in moderation on the size of the house and car even the type of school for the kids. Things you can comfortably afford within your means which lead to enjoying yourself and sleeping well at night.
Enough versus Excess
Catering for a moderate lifestyle is more realistic and easier to cope with as it is probably far less stressful and demanding than providing for than an elevated one. It boils down to providing ENOUGH to enjoy your life along the way rather than giving up so much more more of yourself to enjoy EXCESS somewhere in the future.