Spending and Saving - Is one better than the other?

When it comes to spending and saving money, we tend to think of spenders as bad or have a negative narrative of them, and we think being a saver is a good thing and have a positive narrative of savers. I can understand where this comes from because most of us in North America have gotten into trouble with our spending, but in this video, I walk us through the notion that neither is good and neither is bad. We need both.  

There are 2 sides of the coin (see what I did there?) when it comes to money. Spending and Saving. If we just spent money, we'd be in the poor house. If we just saved money, we would probably die alone and quickly because we wouldn't have much of a life. Money is a two-way street, just like breathing. In order to breathe properly to survive, we need to inhale and exhale. You can't just do one of these, it doesn't work that way. One isn't more important than the other, they work together to create a balanced life. Spending and Saving is the same thing.   

Are you a spender or a saver? What about your household, do you have multiple spenders, multiple savers, or some of each? Don't just sit there on your side and judge the other, embrace the strengths and weaknesses of both and work together to live a balanced and fruitful life. You need each other.  

In a previous post, I talked about building disciplines into habits. You can check it out here: https://www.sentinelcoaching.com/blog/turning-disciplines-into-habits

Note to Savers: You have a tendency to just save money, but without purpose or intention. Use your saving muscles to save for some things you want to do, have, and see. Build in some FUN things to enjoy money. You can check out my video on enjoying money here: https://www.sentinelcoaching.com/blog/learn-to-enjoy-money  

Note to Spenders: I know you just want to have fun and enjoy life. It's a good thing and you live very fun and meaningful lives. But you must learn how to save as well or you'll constantly be living paycheck to paycheck. See my post on why having an emergency fund is important: https://www.sentinelcoaching.com/blog/why-you-need-an-emergency-fund