Here’s an example. I have to have a certain type of schedule because my daughter can’t (as of yet) do some things on her own – the minus side. However, I don’t have to worry about my daughter begging me for the latest Hannah Montana tickets or begging me to get a belly button ring – plus.
So what, you may wonder, does this have to do with savings? My daughter is like typically developing children in that she does want and ask for some things. She doesn’t care about wearing clothes from Abercrombie or getting the latest IPOD or cell phone. She asks for Disney movies, McDonald’s ice cream every Saturday, and copy and tracing paper (she’s a big artist).
Having savings is important because the things she asks for are needs as far as I’m concerned. Other than our Saturday ice cream ritual, she doesn’t ask for DVDs for instance, every week. But I think that it is important that I get them for her, especially since I don’t have to shell out, or fight about the disposable items most youngsters ask for. It is one of my ways to make her childhood “typical.” This is the one time when financial aspects are overruled by reality. Having enough savings so that the “simple things” in life don’t sabotage your budget makes saving worthwhile.
What financial choices do you make that may go against your budget? Do you have things that you choose not to do without – even though those monies could go towards your savings goals?