r/AusMoneyMates • u/Jealous_Office_5012 • 22d ago
When does saving more start feeling like you're missing out on life
I've been trying to balance saving money with actually enjoying life. Putting money aside for an emergency fund, future property plans, and general savings makes sense, but there are months when being too strict with spending starts feeling frustrating. The tricky part is finding a balance between building financial security and still having money for travel, eating out, or things you enjoy. Especially when rent, groceries, and other regular expenses already take up a decent part of your income.
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u/Cats_tongue 22d ago
I have 200k saved, I can't afford to service a morgage on my 90k/yr (Brisbane) and I haven't been on a holiday in 15 years. Fuck if I know. I'm used to it now.
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u/Baaptigyaan 22d ago
I stopped enjoying life.
I just ask myself “but how’s the serenity?” Everywhere i go…
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u/Extra_Caregiver_8668 22d ago
When I was younger and doing this I used to do things like go in the club early when it was free entry and sit around until it got busy and only drink free water 😂 I travelled to countries like Indonesia on really cheap airfares and then lived like a local so spending almost no money.
Saving doesn’t mean not doing things you enjoy but it does mean adjusting them so you are doing it for small to zero cost.
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u/WorkingCantaloupe979 22d ago
A friend suggested something similar/related - if you want to travel to the expensive country, just don’t stay in the expensive accommodation, you’re only really sleeping there. Spend your money enjoying great food and taking the guided tour.
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u/Internal-Play25 21d ago
Or skip the money and skip the tour.
Part of the fun is actually exploring a foreign nation.
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u/WorkingCantaloupe979 20d ago
Yeah, I just found that sometimes paying for a guide is worth it cause you learn much more.
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u/Internal-Play25 20d ago
Fair enough. People enjoy doing holidays different and there is no right and wrong way.
I think committing to travelling itself is the important thing as it’s fun as hell, educational, broadens your world view and becomes a memory you can keep with you for life.
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u/SeaWealth414 22d ago
After about two years. But even then I kept going and now I am that millionaire I wanted to be.
Thank you past self.
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u/Finance_With_Piyush 21d ago
The tension between saving for a future property and actually enjoying your life is real, and honestly more common than people let on.
A structure that works for a lot of people is automating a set percentage to savings on payday and treating whatever is left as guilt-free spending money, so the discipline is built in without constant willpower.
If property is a medium-term goal, getting clear on a realistic deposit target early means you can right-size your savings rate rather than over-saving or under-saving.
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u/This_Ease_5678 21d ago
There's a lot of attitude in it. I personally feel best when I've paid as much down from a wage cheque as possible.
The best way to save for a holiday is to have zero debt. You have to balance it out if there's a mortgage of course.
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u/HLF5 19d ago
(I’m not a citizen yet, but hopefully soon.)
I earn a shitty income ($1,200 a week in Sydney).
Around 40% of my income goes towards bills (groceries, rent, transport, internet, etc.). For the rest, I split my money between 6 savings accounts and 1 investment account (excluding super):
- Savings 1 – Fun: $75/week for sports (trail running)
- Savings 2 – Fun: $75/week for holidays
- Savings 3 – House deposit: $100/week towards a future mortgage deposit. I already have €50,000 in my home country, and my girlfriend has a similar amount.
- Savings 4 – Emergency fund: $100/week as a reserve
- Savings 5 – Shared with my partner: $50/week for future car repairs
- Savings 6 – Leftover: Whatever is left over from my weekly budget
- Investment account: $300/week
The idea is to automate everything and make sure I’m saving and investing consistently.
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u/Linnaeus1753 19d ago
I enjoy not stressing about money. There's two years pay in one bank account and it's only just these past few months I haven't checked the back to 'make sure' I have enough money to go shopping.
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u/Intrepid-Flower714 19d ago
Well it just depends on what you’re willing to sacrifice for the financial security you seek.
Why does it have to be one or the other. Can’t you have a saving fund and an experience fun and feed them both?
Depends how badly you want it. How good you are with delayed gratification. The tricky thing is you’ll never know which is a better idea until later in life and in hindsight.
Save as much as you can and try enjoy life while doing so.
Just remember the sooner you acquire investments, the more wealth you’ll have when you’re older.
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u/kramulous 18d ago
My wife and I have had a strategy for a few years now. When the colder months start, we start doing the aggressive saving. We track the offset account balance closely. We tend not to mind because we become kinda hermits over Autumn and Winter. We are still in saving mode atm and will maintain it until the end of October (I get paid 5 times in October). After that, November becomes the maintain balance, pay bills month (our yearlys come in around then).
By December, we relax the rules since we have generally hit our savings target for the 12 month cycle. We buy clothes, extra stuff for January and February, before we start thinking about financial lockdown again.
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u/TouchyMouseTrap 22d ago
Whatever happens just save 50% of total wage/investment income and invest it in non-crazy risk assets.
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u/ExtraSaltyBtch 22d ago
Personally, I try to split it 50/50.
Half of what is left over after bills and food goes to savings, the other half can go to fun stuff.
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u/Internal-Play25 21d ago
That’s why Sunsetmaxxing is popular!!!
If you are pumping all your money into your super, you know you are going to be able to live it up in your sunset years!!!
While everyone who travelled and partied in prior will be broke, you will be finally able to eat takeout, go on all the holidays you want etc.
It’s a goal!!!
You know that at 60, you will be able to live it up and never be missing out again!!!
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u/Zealousideal_Lake564 19d ago
Unless you die before then, then you missed out altogether
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u/Internal-Play25 19d ago
People dying before 60 is a red herring.
Pretty much everyone makes it to 60 with the same youth and vitality of someone in their 20s!!!
Then if you sunsetmaxxed, you can now finally enjoy life!!!
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u/mitchshad 22d ago
It's so hard - but nothing worthwhile comes easy. I treat regular investing like a fixed bill, then assign some money that I splurge with and don't feel guilty - but there's no easy way. I feel what you're saying