Now, it might seem like I am oversimplifying the obvious by focusing on saving (and spending) as an important component to building wealth, ignoring Wall Street and getting on with our lives, but as we begin to think about this subject I think you will agree with me that the emotional complexity of saving, combined with the magnitude of its importance, is something many of us need to look at and evaluate.
This passage is taken from my book, The New Coffeehouse Investor, and sums up the role “saving and spending” have in building long term spiritual, emotional & financial wealth.
I am putting a strong emphasis on “financial education” in the coming year, and want to start by putting a few things in perspective.
In the world of investing and building wealth, which presumably go hand in hand, we have become obsessed with things that aren’t really that important when it comes to reaching our financial goals.
What is important is how we put this thing called “saving” into perspective in our everyday lives.
To start, I came across this article by Megan McArdle, who provides an interesting reflection on the importance of Saving in the New Year.