In the name of good financial management, many people have saved their money but then lost it due to bad investments. That money could have been spent on other things they have had denied themselves for years. Sometimes blaming the economy for your financial lack is like blaming someone else for the decisions you have made concerning your money. Consider redefining your reasons for working and including yourself as a reason.
Do a mini-audit of the income you have earned in the past 5-10 years. Did you spend any money on things that could make your life easier, more purposeful, rewarding etc? Could your life be easier if a housekeeper came in just once a month, if only to clean the kitchen, (including stove and refrigerator), bathrooms, master bedroom and all floors? Could life be more exciting if you hired a babysitter once a month so you could go to dinner and a movie or play? Have you considered the many awesome places to go on vacation within the United States or abroad? (Tip: Always get airline and vacation insurance. It is worth the money, because sometimes the unforeseen happens.)
There are those who have plenty money, but still never purchase anything new. Many are living in times past when they could not afford to purchase anything new, from appliances, household goods, clothes, to cars, etc. To each his own, but sometimes these decisions may have more to do with the fact that they may not value themselves as much as their money.
Then there are people who feel that purchasing anything new is considered a definite waste of money when they can get it cheaper if its used. Of course, however you spend or save your money is your choice, as there really are two sides to every coin. Question is, are you heads or are you tails? It just depends on who you consider first, you or your money?
Years ago, many people had to purchase everything 2nd, 3rd or 4th hand because they did not have the money to purchase anything new. Back then, you would not dream of buying a brand new TV or household appliance or furniture, much less a car. However, once you have worked, worked, worked and saved, saved, saved, you might consider rethinking your position on spending. Just who you are going to leave all your inheritance to if you don’t spend it? Do you think they will have the same frugal goals? Maybe they will but there’s a good possibility they won’t.
I am not promoting that you throw all caution to the wind. What I am advocating is that when you work, you need to consider including yourself as a primary benefactor and make financial decisions that will allow you to utilize some of your money for some of your longtime desires and dreams. Don’t you think you’re worth it? You have my vote.