Comments on: How I Switched to Long Term Thinking

By: Jen

Jen — Sun, 01 Jan 2012 22:53:57 +0000

I always think about my spending and whilst I consider myself frugal, I still have a soft spot for something things and I possibly splurge more than what I should. Tizzle’s comment was spot on… it’s easy to save a windfall; it’s those small purchases and irrelevant spending that add up. At times I feel that reaching that level of control over some forms of spending (say not going for coffee or lunch outside of the usual stuff I prepare at home) would have a significant impact on my social life. Sounds crazy but I work abroad and most of my friends are from work and in my occupation, people seem to be quite relaxed about parting with their hard-earned cash! I’ve had conversations with others about this and it seems that some people are convinced that saving some money, but an amount that allows them not to compromise on those other treats and purchases, is the way forward. That’s definitely not the way I see my long-term financial future but it does make my present a bit awkward sometimes.

By: Tizzle

Tizzle — Sun, 01 Jan 2012 18:08:35 +0000

Good advice, Kai. I’m set on the vacation (2 days, yay sun!), but I’m gonna try that for my weight loss challenge – I know it’s cliché at this time of year, but in a twist, a group of us are putting money into a pot and the biggest loser will take it all.

By: Kai

Kai — Sun, 01 Jan 2012 03:21:34 +0000

Print out a photo of your vacation destination. Every time you think you can afford another beer or whatever else, take a look at that photo and decide whether you’d rather have the vacation or the beer. If you decide you’d rather have the beer every so often, no worries. But every time you decide you’d rather have the vacation, take the money you would have spent on the beer, and tuck it in behind the picture. Then start storing it somewhere else – in a jar to be deposited into your vacation savings whenever you amass a chunk or something else that works for you.
Then when you get to that vacation, enjoy the hell out of it.

By: Tizzle

Tizzle — Sun, 01 Jan 2012 02:02:04 +0000

My first thought on this was how to practice this idea? I am currently in the middle of a non-spending spree because I need the money for a vacation coming up. It’s hard, because I don’t spend all that much in the first place, and so the short-term sacrifice means I spend less time with friends. Except that I CAN go to the bar with them, and only have one beer. This is kinda difficult for me, but I’m working on it. It’s easy to save a windfall (say $200 or up), but hard to save $5 at a time, in this long-term thinking.

By: Other Jonathan

Other Jonathan — Sun, 01 Jan 2012 01:42:37 +0000

I really like this post – long term thinking is a great way of describing my own thoughts on money as well. My cousin got a little R/C helicopter for Christmas. It’s a lot of fun, would be enjoyable to learn to control well, and costs $37 online. I’m tempted to buy it. But, a year ago I “splurged” on a little R/C car at a mall kiosk because I rarely splurge (and I recognized it as such then). However, a week later and it’s sitting in the closet, and hasn’t been touched since, and every time I look at it I think “what a waste of money!” (and I definitely never got my money’s worth of enjoyment out of it). So I always think about how I’ll feel about that purchase after the initial thrill has worn off, and then consider whether the short- and long-term satisfaction is enough to justify the purchase.

By: Maureen

Maureen — Sat, 31 Dec 2011 20:58:25 +0000

You avoid people who might tempt you to spend, rearrange your commute to avoid passing places that lure you in to spend, yet you go to a store and try out board games? Seems inconsistent to me.