“You mean we can’t splurge on anything, ever?”
That’s what you might say when you first commit to a financial freedom plan.
The truth is, you can have your cake and eat it too. It is possible to spend way less than you do now and still enjoy nice things. You just have to be very selective about what you are willing to spend money on. I mean, it has to be worth it. Remember, cheap people buy cheap junk, and smart money people are very selective about what they’ll buy. I don’t even like to use the word “frugal” because of the negative connotation.
The other special trick for enjoying nice things while pursuing financial freedom is a skill that will define your entire future. It is a skill that precious few are good at. I didn’t even start doing it well until I got into my 30s.
I’m talking about delayed gratification.
To illustrate, I’ll give you my own personal example. My wife, daughters, and I love Disney World. I mean it is our favorite place on the planet. The memories we make, the nostalgia we experience, and our shared love for immersing in a fairytale world is priceless to us. So we make a point to go Disney World every other year. We stay on property for ten days in one of their deluxe resorts. As many of you now, that’s not cheap. Not cheap at all.
But we save like crazy for it for two years, making sacrifices and avoiding unnecessary spending elsewhere. Some folks think we are crazy for doing this. That’s okay; it’s our thing. You should never let someone other than your spouse and kids dictate what you spend your money on. Not unless they start paying your bills.
It’s up to you to find your thing.