What do you do with all the Money you Save?
While I was in Michigan last week, I had the opportunity to spend a lot of time with my 20 year old sister. It was awesome, because we really don’t get to spend much time together with me living so far away from her. We were talking about things, and she asked me a question that threw me for a loop. “What do you do with all the money you save? You’ve mentioned quite a bit that you do certain things to save money, but what exactly is is that you do with all the money you save? Why not just spend and live life?”
Wow. Keep in mind that we grew up with the same thrifty mama.
I think what made her so curious was that I told her to pull into the parking lot that had all the rvs for sale. I told her that if we lived in an rv, we would save so much money. I guess she didn’t think it was as cool as I did.
I basically told her that it’s essential to keep around 6 months worth of living expenses in a savings account as an emergency fund, save for retirement, and just have the peace of mind knowing that you have money. I told her that we save for various reasons and that even though I may save money by making my own laundry detergent, I don’t necessarily take the difference and put it in savings. I just like knowing that I didn’t give another large company more of my money.
It was kind of an odd question, but then again, I need to realize that not everyone is frugal. There are people that enjoy getting cappuccinos every day, buying things for their vehicles, and not thrift shopping. That’s fine. Everyone is different, and it’s nice to see how others value their money. I think it’s really funny to think that we grew up in the same household and have such different views on saving money. To each their own!
At least she didn’t call me Scrooge.
What do you tell people when you get asked about why you save money/live frugally?