Burton G. Malkiel & Charles D. Ellis
“The real purpose in saving is to empower you to keep your priorities – not to make you sacrifice.”
The importance of saving is well understood. While we want to enjoy today, we also want to plan and provide for our tomorrows. We want opportunities now and in the future, and that’s what savings provides.
With all that said, there is no reason to deprive oneself. As Ellis says, the goal is not to “squeeze money from a tulip” but to feel better about how you live your life by making your very own “best” choices, which entail prioritizing what you want, need, and enjoy.
I polled a few people near and dear to me to probe what this means exactly. Mary (we’ll call her) told me that she will consider ordering a second appetizer instead of a main meal to pocket the difference when she goes out to dinner. She also said she feels strongly about flying in “Comfort Plus” and would rather put the money there. Those are her “best” choices, allowing her to live her best life while saving and feeling good.
Dave (we’ll call him) likes to take public transport whenever possible and prefers keeping the household temperature a few degrees lower almost all year round. He’s a foodie, however; no matter which city he visits, he looks for Michelin-starred restaurants and does not pause when making a reservation.
To save is to empower, not to deprive. Make your “best” choices aligned with your priorities to feel most fulfilled about your life and on your way to a future full of choices.
