Can You Balance Living In The Moment AND Saving For The Future?

You have a few things in place already:

You have a solid emergency fund

You're on track with investing

You're on track with retirement

You're living below your means

You're not funding your life with debt

You're able to give to others and do so consistently

You manage a positive net worth that you're actively building

And you're wondering…

Should I buy X?

Should I splurge?

Should I loosen up a bit?

Should I have a bit of fun?

All valid questions when you're doing everything right. A lot of advice states you should live modestly, live within your means, and not focus on luxury or anything that falls out of line with the definition of necessity.

But what do you think?

A question to contemplate is whether or not buying something or deviating from the plan will truly set you back. If you're already on track, will the purchase (or purchases you're considering) set you back financially? Will they compromise what you've built and are building towards, or would they simply be nice additions to your life?

A lot of times, people don't splurge because they forget how to. They're so used to living a financially disciplined life that they forget they have room to spend, splurge, and live in the moment, too.

That's the thing about investing, saving, living below your means, and embodying a financially modest lifestyle: It's important to prioritize saving for your future self. 

But when should you also consider your present self's desires? Is it wrong to live in the moment and plan for the future if you can do both successfully and not hurt yourself financially?

Is it wrong to drive a certain car you like? Is it wrong to buy certain clothes that are appealing to you? Is it wrong to buy something that might be a higher-than-average price but means something to you? Is it wrong to have desires that aren't motivated by society but are genuine desires that you hold dear?

All of these questions must be decided by you.

Do you ever notice that many wealthy people drive modest cars, but they've also bought a few fun cars at least once? Do you ever notice that many wealthy people have likely lived in a nice home at least once? They might not always keep the luxury car or home forever - many downgrade or trade in their lifestyles, but many try it all at least once. Why? Because they wanted to experience what it feels like. Some ended up loving it more than they thought. Others give it up for something simpler because it wasn't what they thought.

It's consequential to question your intentions behind purchases. Are you buying it to impress others? Are you buying it because society, friends, or advertisements are telling you to buy it? Are you buying it because you genuinely like, want, and appreciate the item?

There is a way to balance living in the moment and living in the future. There is a way to do both without compromising your net worth and financial progress, but it must be done in a way that makes sense for you and your goals, and only you can make this choice.

Another factor worth considering is timing.

A purchase that feels reckless in one season of life can be completely reasonable in another. The mistake isn’t wanting things — it’s wanting them before your foundation is stable.

When your finances are shaky, every luxury feels heavier than it should.

When your finances are strong, the same purchase barely registers.

Context matters.

This is where many people get tripped up. They hear rules like “don’t buy luxury” or “delay gratification” and treat them as permanent laws instead of temporary strategies.

Discipline is a tool, not a lifelong punishment.

You use it to build leverage. Once leverage exists, the rules evolve.

It’s also important to distinguish between one-time indulgences and recurring lifestyle inflation. Buying something meaningful once is very different from upgrading your baseline spending permanently.

A one-time purchase can be enjoyed, learned from, and even reversed. Recurring expenses quietly shape your future obligations. Before saying yes, ask yourself whether this is a moment or a new standard.

Another helpful lens is reversibility. If you buy this thing and regret it, how easy is it to undo? Can it be sold? Can you downgrade? Can you walk away without long-term damage? Low-reversibility decisions deserve more caution than high-reversibility ones. This applies to cars, homes, subscriptions, and even commitments that cost time instead of money.

There’s also a psychological component that rarely gets addressed: guilt.

Some people feel guilty spending money even when they’ve earned the right to do so. That guilt often comes from past scarcity, not present reality. If you’ve spent years being careful, frugal, and intentional, it can feel foreign to loosen the reins. That doesn’t mean it’s wrong — it means it’s unfamiliar.

At the same time, self-awareness is non-negotiable. Spending should never become a coping mechanism for boredom, loneliness, or dissatisfaction. If the urge to splurge is coming from discomfort rather than desire, pause.

Money spent to escape usually creates more problems than it solves.

The goal is alignment. Your spending should reflect your values, your stage of life, and your long-term vision — not external pressure or internal fear. When those three things line up, decisions become clearer and quieter. You stop second-guessing because the purchase makes sense in context.

Ultimately, financial maturity isn’t about restriction or indulgence. It’s about choice. Having the ability to say yes when something genuinely adds value — and the strength to say no when it doesn’t. When you’ve built that capacity, money stops being a source of tension and starts becoming what it was meant to be: a tool that supports the life you’re intentionally creating.

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Don't rely on one stream of income. Use your skills to create income.

This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.