A financial planner changed the way I think about spending and saving - Business Insider

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As with most things, the best strategy is somewhere in the middle of two extremes

"With retirement and emergency savings automated, the balance of your paycheck can go toward food, shelter, and fun," she said. "Enjoy life today while saving for a rainy day and your future."If you're more likely to squirrel cash away for a rainy day than to splurge on something to enjoy right now, you may find yourself ahead of many of your peers come retirement.

Anderson said she recommends that super savers set up a special savings account where the money is meant to be used in the next 24 months. For example, a childhood friend of my boyfriend's recently invited us to come and visit him in Quito, Ecuador. We'd split our time between the city and the jungle, where the friend works building solar boats to provide transportation for indigenous people. It sounded like an amazing experience, by every measure.

 

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