"Money in the bank is freedom on my back."
I'd like to know what your first impressions are in the comments below this post.
(Now, the rest of the story)
This is the advice that I was thinking about giving my friend. Two more ways of putting it are "Money in the bank is freedom of choice" and "Money in the bank is peace of mind".
Basically, the point I want to get across is that you don't have to spend all of your money as soon you get it. Every time you buy something it is either consumed right away, or it is just something that you will have to worry about.
Then again, this could just be my personal biases coming out. I prefer to be more minimalistic, thus, I tend to think that it is more right to own less things. (Sidenote: I also like to keep enough tools on hand to be prepared for just about everything.)
If I had more money to spend, then I would want to put it into things that will last. Food and candy doesn't last. Electronic goods are one of my favorite and "required" purchases. But, probably even better purchases are experiences. Being able to do something that you haven't done before. Those are the things that are going to last a lifetime.
And, since I'm just free-writing now, probably the other best use of money is to spend it on things where the rewards/benefits are greater than the cost. I guess that just provides a good generalization for how money should be spent. Unfortunately, some people's idea of benefit can be greatly biased when thinking about themselves. So, to change up the generalization a little bit and reduce the bias just a little bit (this works for people who know they have bias), I have arrived at the following: Probably the other best use of money is to spend it on things where the benefits to others exceed the costs to oneself.
This was not to anybody in particular. Just conversing with myself... =]
~ Simply Advanced ~