Being frugal for me comes naturally because of the way my parents and grandparents raised me!  I really do pinch my pennies so that they scream like the audience watching a “Nightmare on Elm Street” movie.

But not spending money when you are young is also a great waste (but of life instead of money)!  When you are a teenager, it’s good to go out on fun dates and spend money to hang with your buddies!  After you get a job and start a family, those opportunities become very rare (with dating no long a healthy option).  So make the best of it now, you might not get another chance.

So what am I recommending?  I would do the following:

• Contribute a certain amount to your 401(k) and savings/brokerage accounts.
• Cap the amount that you will spend on entertainment per month.
• Make sure you at least have $1,000 in savings in a bank.

www.zordane.com does a great post called: It Is Good To Spend More!  I think he captures the younger crowd concerns especially well with his article.

For me personally, I think in the past, I saved too much money.  I’m sure I missed opportunites that I would have take while I was a bit younger (teens and 20s…).  Now, I’m playing catch up!

I think at every age, people should spend a little bit to enjoy life!

For more information, please follow the folling links:

Spending More Money For a Better Life, Part 1 of 2 &

Spending More Money For a Better Life, Part 2 of 2

-MR