It’s not about saving, it’s about spending it right.

Many of us believe that we should save money wherever and whenever possible. We should avoid buying anything that we can do without.

This thinking about money makes us bad at money decisions and not all of it is our fault, we were from the very beginning taught to save money and spend as little as possible.

If I give you an example to understand this. Imagine you have a very important meeting and you are running late. You ask for an auto but he is charging more than normal fare, so you don’t take the auto. As a result you end up arriving half an hour late for the meeting and your first impression is already spoiled.

In the above case, even though auto was charging more than than normal, but paying those extra bucks would have got this man to his destination in time. His first impression would not be spoiled. But in the moment, the man thought of saving those few pennies and lost this opportunity to do good in this important meeting. Because of arriving late, he keeps panicking and as a result isn’t able to give his best which makes the meeting a failure.

You see in this case, the man tries to save money but as a result loses a bigger opportunity. This is where most of us go wrong with money, we try to save money wherever possible without considering all the other factors.

The fact that he was running late and that it was an important meeting should have made the higher price justifiable. But he thought that the price was unfair and the autowala is trying to make a few extra bucks from him.

I agree, the price is unfair, but considering the other factors the man should have paid it. Most of us are like this man, we are hard wired to save money by our parents. Something that most us don’t know is how to value opportunities.

Opportunities are rare and have a higher value. Spending a few extra pennies would not be a bad idea to get hold of this opportunity.

This is just one case and there are countless others where we try to save money but end up losing more by letting off a good opportunity.

It’s not about saving money, it’s about spending it right.

The sooner you learn this, the better off you will be.

-ChoubeySahab