My thoughts on spending money

spending money的圖片搜尋結果What would you do if you had a windfall of several thousand dollars? You might probably say that a few thousand dollars is just a small sum and would not be able to buy much here in Hong Kong with inflation constantly rising. Still, that amount of money can be spent on something that you have longed for a while. Some people might use it to wipe out some debts, arrange a trip to Paris, take up a CPD program Hong Kong, replace your old laptop model, get a new mobile phone, buy a handbag (especially in the case of ladies), invest in shares or simply save it in the bank account. However you spend it, make sure you spend it wisely, for it reveals your attitude towards money.

I’m not saying that we refrain from spending money on luxury items and put every penny into your bank account or invest it in shares for investment returns. As you may already know, parking money in your bank account for a long period of time will likely result in a decrease in the real value of your money given the ever increasing inflation. Investing your money in shares or bonds may be a better option. But no matter which forms of investment you’re making, there’s no guarantee for profit.

Therefore, if you decide that saving or investing is not your preferred way of spending those few thousand dollars, you may consider buying something that you have been longing for for a while, such as a good quality handbag or the latest laptop model. Contrary to popular opinion, spending money on expensive items (here I mean items that do not under normal circumstances belong to the category of daily necessities) is not something that we should feel guilty about. In my own definition, expensive items should be fine in quality, which translates into greater durability. A frugal living lifestyle does not necessarily mean a low quality living. It may simply mean spending your money wisely. You can spend $50 for a cheap pair of pants that won’t last six months, or you can spend a hundred on a pair with better quality that can last for years. It saves you more money to get yourself items that can last longer.

Sometimes it’s not durability that matters, it’s about saving you time. Compared with a newer laptop model, working on an old model will very likely slow down your pace of work. If you believe that time is money, then better equipment that can speed up your work will be worth your investment.

It’s all about choice when it comes to how we use our money. To me, striking a balance between quality and price is the sensible way of spending money.

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