Myth of Self-Denial in Savings, Budgets

There is no self-denial in saving.

De-program yourself from the brainwashing.

In most budget discussions, you are not talking about working for free or donating all income to charity; you are deciding whether it is better for you to spend on you now or spend on you later (“you” can include your loved ones because it is not self-denial if you want to spend on loved ones—it is self-fulfillment). In other words, budgets and savings increase what you can lavish on yourself—so skip the whole “woe is me” martyr complex and start planning.

Every time you start to think that a smart action is “too hard,” remind yourself of what you are enabling yourself to do better by the action. Smart spending not only affords more toys in the long run, it improves your health and well-being by avoiding stress—and avoiding health costs gives you a double pay-off.

If you think that not buying that new electronic gadget is hard, remember that bad spending makes your life hard, not being able to leave a bad job because you're barely treading water makes your life miserable, and not being able to make tomorrow’s bill payment drives you to nervous breakdown. In contrast, building financial security makes your life easy and lets you sleep like a baby.