Save or spend? That is a question that probably crosses everyone’s mind at least once a day.
Should we be spending our money on frivolous things or should we save it for a later time when we might need it?
For me, I have an awful spending habit and buy so many things impulsively. I love going and doing new things. I love going to concerts and spending all my money on concert tickets. That means if I get the chance, I am jumping on the opportunity no matter the expense to go to these concerts.
For me, spending the money on an experience is worth it because it is memories that will last me a lifetime. Going out and doing fun and new things may cost a lot but it also brings so much joy into my life. My sister and I really bond over music and we always go to concerts together and it is the best getting to experience those moments with my sister, even if it took $300 out of my wallet.
Buying new things brings a sense of joy into our lives, especially if it is something you have been looking forward to buying for a long time.
The action of shopping is also really fun to me. Nothing is better than going to the mall with your best friend. It is quality time and you get to shop and buy new clothes and other things of that sort. As a teenage girl, I mostly spend my money on clothes, shoes, and nails.
On the other side of the spectrum, what do boys this age spend their money on?
“I spend a lot of money on my truck, truck wheels, snowmobiles, and gas. I do also have to pay my car insurance,” Toby Edmond said.
Rylee Wirth on the other hand expresses she is not proud of it, but she pays for Snapchat Premium.
Upgrades on various apps definitely get people to spend more money, especially high schoolers. Snapchat Premium costs 3.99 a month, which does not seem like a lot, but it definitely adds up if you pay for it every month.
“I spend my money mostly on shoes, clothes, and a lot of food,” Ciarra Jones said.
It is also fun buying little things that spark joy and it is fun going out and shopping.
A lot of the time the things we buy are necessities, but also a lot of the time it is something random we see ads for and automatically think we need. Ads online definitely do not help the saving problem. Ads are everywhere on TV, various social media platforms and even on the side of the road.
“Tiktok shows me what to buy and I am like,” said Jones.
She explains that after seeing an item. it is easy for her to decide she will purchase it.
On the other hand, some people are the opposite and save their money. They have a lot better impulse control than I do personally.
People who save their money are being smart in case they need money for an emergency situation. It is also good to save money from your paychecks because you may have bills or other payments you need to make. It is important to make sure you are at least somewhat responsible for your money so you do not end up behind on certain payments.
“Although I am bad at saving, I make sure I have enough money for my car payment and insurance,” Jones said.
It is also important to budget your money so you will have enough money for things like gas, which is not necessarily a payment, but is something that is going to come up and is not always the same.
Edmond mentions that a large amount of his money goes towards gas.
“I put money in my savings account, but then I end up pulling it out later and it is always money for gas,” Wirth said.
If you get behind on payments or other priorities, it creates a never-ending cycle and it can also create a bad habit.
A bad habit is what us spenders probably already have, but I believe it can be justified. We all feel the need to make as much money as possible, we all want to be successful and feel a sense of accomplishment, but according to an article by Forbes, “A team of psychologists led by Gordon Brown of the University of Warwick in the United Kingdom tested the hypothesis that more income would lead to improvements in life satisfaction. What they found, however, was slightly different than what they hypothesized. It turned out that the ability to spend more money increased people’s well-being more than the ability to earn more of it.”
When spending money we feel a sense of satisfaction and enjoyment, but buyer’s remorse is definitely real.
Now frivolous means not having any serious purpose or value, but when it comes to your happiness and fun, I think that makes up for it because you can not put a price on happiness.
Spending money on frivolous things is a yes from me and other students at Lakeland High School, as long as you have enough money for the necessities.