I remember being in my mid-20′s and participating in most of the activities that single guys in their mid-20′s tend to engage in: Going out to the bar, doing things with friends, and the sort. Most of these things cost quite a bit of money.
I remember talking to some friends who had settled down, and finding out that their Saturday nights largely consisted of staying home, getting stuff done, watching a movie, and maybe getting take out.
It was pretty incomprehensible to me.
Until a few years later, when I finally grew out of the ‘go out to the bar mentality’ and found a lot of my weekends consisting of exactly the behaviors I’d thought were completely out of the ordinary just a few years ago.
Turns out, they were just acting a few years older.
Over the years, I’ve seen where acting a few years older could save in other ways.
Act like you have a kid. Even if you don’t have kids yet, chances are you do know that they cost money. If you have friends with kids, you’ve seen how costs just pour into that kid. So, start making the same sacrifices that your new mommy and daddy friends make, but save the money instead. That way, when you have a kid, the transition on your spending habits will be seamless.
Avoid the mid-life crisis. When your mid-40′s hit and you start getting the itch to just go look at those sports cars, just resist. Fast forward a few years and just plow the money into your retirement account as if retirement were just around the corner. Because, trust me, the guys that do buy the sports cars; most of them end up selling it, putting the money back into their retirement, and kicking the retirement savings up as they realize the time is getting close. If you really need to satisfy the itch, rent a sports car for a weekend. it’ll save you a boatload in the long run.
Act as if you’re retired. Chances are if you know someone who is newly retired, they’ll talk about how they have changed their spending habits to account for their lower income. Find out what they’ve cut and cut it yourself. Bank the extra money and you might even be able to retire early! Either way, when that retirement day does come, you won’t have to worry about the costs of your new lifestyle, because you’ll already have made changes to ensure that you can safely afford it.
Thank you for reading.