Delaying gratification…and thoughts on the future

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Now that I’m back from Hawaii and have another trip planned in January, I’ve been trying to mitigate unnecessary spending and re-evaluate my priorities. As I’m inching closer to the end of my twenties I’m constantly worrying about making the right decisions for my future.

I try my best to save up for ‘the best’ things: designer purses, clothing and shoes, but in the end I wind up too impatient to save and hunt for cheaper things to keep me occupied and satisfied for a time. I constantly lust over designer items but I don’t feel my far-from-6-figure salary warrants that big of a spend. Sometimes I wonder how people can scrimp and save for a designer purse for months at a time. If I were to save up for a dream $3000 purse for a year… that’s $250 saved per month. I don’t know about you but that is a LOT of money to put away, and it seems impossible (at least to me) to keep my hands off it for a full 12 months straight! I just don’t have the patience. Do people really save so diligently? Or is it just a front and they buy it outright with their savings?

For a long time now, clothes, shoes and purses have been constantly in my mind. But now a few new things have been popping up in my thoughts… a comfortable lifestyle in marriage, perhaps a child, and retirement.

I’m scared that I’ll look back on my twenties, shake my head and wish that I had saved more, or prepared more. Aside from a mortgage, my current financial obligations are light. If I really wanted to, I could double my frivolous spending, tell myself that ‘life is short,’ bury myself in designer duds and call it a day.

But the thought of wedding costs, the cost of raising a child, funding a college education and ultimately having enough for retirement scares me. (I’ve even gone to the point of opening up and funding a 529 college fund for a future child.)

I worry about it, then I save. I push it out of my mind, then I spend. Then I feel guilty. The cycle continues.

When it comes to your HG, incredibly expensive ___(fill in the blank)___, how do you go about saving for it?

Also…Do you think about your future? Do you plan for it? How do you balance your immediate wants with your future plans?

♥ E&I