A few days ago, while enjoying the Chinese New Year and a one-day off at work, a close friend messaged me asking for a personal advice. She told me that she enjoyed very much her weekend because at last, she was able to see her favorite K-pop girl group Black Pink and paid for their much-awaited concert. She has been waiting for it ever since the time she started following Korean celebrities and musicians, and it did happen. And that’s her first experience!
I was happy for her but after several minutes, she told me that somehow she felt the guilt. She said that it’s kind of expensive and she’s not used to it- especially spending that much on an enjoyment.
Moreover, that time she was asking if she did something wrong, on a personal finance point of view. Because like me, she is also practicing good money management and we’re trying to save-up as much as possible. Let me share to you things I have told her…
“If you’ve set aside an extra money for it, then it’s okay…”
There’s nothing wrong on spending on concerts, it only goes wrong when you do not prepare for it. For me, I treat it similar to travels, birthday parties, and cinema expenses. Saving money is good but when you deprive yourself too much, it’s also not a good thing.
It’s okay to spend on things you enjoy as long as you make a budget for it ahead of time. It should also be an extra money you can afford to lose, and you need to give yourself a longer time to be ready for it so that you can have some buffer.
“As long as it’s not a borrowed money, that’s fine.”
In an ideal world, everyone would have enough money for enjoyment such as eat-outs and travels. But in reality that’s not the case. And for many people, their best option for leisures is through borrowing.
In many situations there’s nothing wrong with borrowing, especially if the things you are spending on are necessities. Personal loans are a great way to reach a short-term goal, but it is not advisable when spent on enjoyment. Addison Hallock Once said: ” Before borrowing money from a friend, decide which you need more”
You have to determine if it’s really necessary to do so.
“If that’s my favorite band, I’ll do the same…”
Artists going on tour isn’t always as common as people think. It could be years in-between each tour they take, with different albums, and a different sound sometimes. They may go on quite a few over the years of their career, but they will all be different. If you really enjoy a specific album, then I would consider spending the money for tickets. You’ll be taking a risk not knowing what their next album will be like, or not knowing if this is the bands last tour or not.
Concerts will be experiences you will never forget, especially with today’s technology, you can record most of it if you’d want to! Every concert is a different experience, because no matter what, every band or artist is unique and different.
If you go with friends, you will cherish those memories with them. You can go to concerts with your parents, or siblings, and still cherish those memories forever.
“Leisure should be part of our savings goals”
Paying bills, paying off debts and putting food on the table is important but we shouldn’t neglect our well-being. Many people throw fun out of the equation because they think adult responsibilities lessen enjoyment, they think that they don’t deserve to have fun.
Truth is, there’s this forgotten thing called work-life balance. In life, and in all that we do, there has to be balance. I believe with conviction that everyone deserves to have fun, but everyone must be willing to work for what they want to achieve.
Money surely isn’t everything, although we cannot undermine its importance in any way. Also, I don’t recommend that it’s worth it for us to go out of its purpose and become increasingly depressed because we’re so deprived of having fun in the midst of chasing a good life. In fact, the best things in life can’t be bought by money!
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