No Long-Term Planning is Stupid
In my humble opinion, far too many people are choosing short-term satisfaction over long-term planning.
For instance, a lot of people (and not just Americans) spend everything that they earn, even though they do not have enough or any money saved for emergencies. Furthermore, a lot of people put themselves in more debt than they need to be, whether it is buying a home that is larger than their needs or a vehicle that is more of a status symbol than practical.
For this reason, I think we need to expand the definition of the word stupid.
When someone chooses short-term benefits over long-term goals, it shows their stupidity. Specifically, this makes obvious their lack of concern for their own future. Most short-term benefits, such as buying a ridiculously large television or a new car, only provide temporary happiness. On the other hand, the long-term benefits with saving money typically yield much more long-term satisfaction. However in order to attain some long-term goals, such as buying a home or retiring, some sacrifices in the short-term are necessary. Therefore, the balancing of short-term satisfaction over long-term goals is a delicate decision that should not be done lightly.
It is my firm belief that way too many people are not saving enough money. I think the root cause of this problem is that Western culture has exaggerated consumerism. In other words, people in the past only purchased items that they needed; however now, people are much more willing to purchase products that they only want. Therefore, a lot of people spend a lot of money more than they need to or should. These people should be instead saving their hard earned money.
In order to help guarantee stability and happiness in the future, I firmly believe that a lot of individuals should be saving more money than they are already doing. I only have two possible recommendations. First, are you saving enough money to attain your long-term goals on schedule? Second, could you be saving more?
by Phil B.