My father turned 18 in 1932 during the heart of the Great Depression. I learned from him at an early age that money was both scarce and important.
Even when I was only twelve years old and my weekly allowance was sixty cents, I always saved some of it, and was very careful in spending the rest. I was so frugal, in fact, when I was 23 a friend asked me why I didn’t occasionally splurge on some unnecessary indulgence.
“It’s not the $20.00,” I said, “but the $1.50 a year I would lose in interest for the rest of my life.” He probably thought I was nuts.
But as careful as I was, I still occasionally lost money, usually because I was taken advantage of, but also because I sometimes bought items that I later regretted. It goes without saying that I was upset about money much of the time. (Like whenever I was awake.)
I finally decided that the stress wasn’t worth it, so I gave myself a “budget” of $10,000 a year with which to indulge in things I didn’t need or to lose to someone who wasn’t honest.
This probably didn’t save much, if any, money, but it did buy me peace of mind. From that day to this I have not kept track. I think I remained within my budget, but more importantly, I know I have felt a lot better about my life without worrying about how I spend every dime.
So if something you’re doing in your life bothers you on more than an occasional basis, I recommend that you develop your own personal strategy to deal with it, as I did with spending money.
As far as I know, the purpose of life is to enjoy it, and not to make your children wealthy. (Note: many of them may read this. And comment.)
At the moment I’m seated for lunch on a cruise ship. Paid for (drum roll please) from my savings.
Sorry, kids.
Alan