Sometimes, saving money is discouraging. Especially if it’s:
1. For the short-term to medium-term (no compounding magic here!)
2. For a very very large amount (multiples of what you’ll be able to save)
For example, It’ll take me almost a year to save $10,000 in non-retirement assets, but that’s less than 1/10 the amount needed to fund 2 full years at a good grad school program. I have friends who have entered graduate school (law, medicine, business) where they will take out hundreds of thousands of dollars in loans. Up against that monstrocity of a number, how can one really work up the motivation to save $5 on a sandwich, or $20 on a dress?
Today, I stopped by Ross on the way home and found a beautiful polka-dot dress for $20 (black, with magenta trim). Unfortunately, the size wasn’t quite right. I struggled for a few minutes to adjust the straps and briefly contemplated bringing it to a tailor… but finally gave up.
It’s a sign. Even Ross knows that I’ve been spending too much lately and is telling me stop.