You don’t really have to wait to buy that SUV: just take a car loan. Oh, your colleague went to Paris last month and the pictures are breath-taking? Just take a personal loan and book your tickets. With so many avenues to take a loan, money is not a problem, but ask yourself: do you want to spend it all now, and pay for it for many years later, or do you want to save for it now and spend it later?
We do want you to be able to buy all the comfort and happiness that your hard earned money can buy, but we don’t want you to live in just the present. You should be able to enjoy your money not just today, but also tomorrow and even after you no longer earn. So you need to save before you spend. But should you save by cutting back important spends and being miserly or should you just save a fixed amount every month and spend the rest? Here are three steps that will give you answers to these questions.