Im guessing your in your 20's to mid 30's. I once thought that way also, but when I reached 40 I realized I only had a fraction of what I will need in retirement saved up and changed my ways.
Alot of people (especially the younger folks), really seem to not think about what is going to happen to them when they reach 50-60 years of age,get laid off and than find themselves unemployable. I have seen it happen to people recently, and it is a scary thing to watch someone go through.
In my early 20's I had alot of cash from an insurance settlement, I blew alot of it on stupid stuff, but managed to do one smart thing before it was all gone and go to college with it. I wish I had the wisdom that age brings back than, I would still have alot of it....
Mid 30's, yes. I am not suggesting (and I hardly do) blowing every cent you have. As I mentioned previously, I do not buy a bunch of needless stuff. I have automatic deductions taken out of my checking into my retirement accounts every month. I watch my savings account grow, and then take some out of that every now and then to put into other accounts that I don't touch. I've never been the type of person to blow money just because I have it.
There is a middle ground. Blowing off every bit of life in order to gain another dollar is foolish in my book. Who's to say some of us even make it to retirement? If not, you've wasted your whole life working towards something that never happens. On the flip side, I know plenty of people who spend every paycheck as soon as it comes in because they take that notion a little too seriously. They believe they could be gone tomorrow, so why not spend everything today? Like seriously, I know a few who make a good salary, but are one paycheck away from not being able to eat, as they have zero savings.
I'd say I fit right in the middle. I don't horde and save every penny by never doing anything, but I certainly don't blow it needlessly. If I gave the impression that I am always out on the town living it up, that's not true at all. We eat out maybe once or twice a week, and usually at quick, cheaper places (we almost never eat at fancy restaurants) when we just have no motivation to cook. Our vacation plans usually involve renting a cabin just a few hours away, or finding incredible deals and using miles gained from flying for work (where they pay the ticket!). We only have one car because it's all we need.
There are many ways that you can have a life, not be a hermit, and still save money. I just thought racer's version was a little extreme (especially with all the money=power business). As I said, if money is the ONLY thing that matters to you, and friends and entertainment don't matter at all, go for it. I'll take a little bit of both.
). It's what I use at work so I'm a lot more proficient in it than any other spreadsheet. I stay under budget by hiding my wallet from the Missus.