How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Martin Your Own Question

Martin, Engineer
Category: General
Satisfied Customers: 4765
Experience:  i'm 41 and i never stopped studying and experimenting
Type Your Question Here...
Martin is online now
A new question is answered every 9 seconds

What is the right way to think of money -- saving, spending?

This answer was rated:

What is the right way to think of money -- saving, spending? When I spend a lot of money on a single thing, I feel like I have to be extremely deserving of it and I fall into spending guilt. I am not sure how to deal with it, and how to think of it (i.e. am i being frivolous, or am I doing the "right" thing?)
Hello and welcome. Money can be quite a philosophical thing when you start to think about it. Spending guilt is not a bad thing but it can limit you if it start to look like hoarding (not wanting to let go the money).
It is good to keep some money aside in case of some accidents but remember that the money you work for start deprecating with inflation at the second you worked for it.
I personally stopped to buy anything that do not better my life in the long term. I buy things only if they save me time or increase my security. Cable TV for example is out of my home, the internet is a superior media at a lower cost.
Separate your money pile in 3 piles.
Pile 1 is your saving, the money you need in case something goes wrong. Your tolerance to risk and the amount of things to possibly replace decide of it's size.
Pile 2 is your body need: food, shelter, health etc... That one is decided by the amount of luxury you want to have and can afford in your life.
Pile 3 is the project money. In this, the money is used for bettering you life. It can be for time saver or for money making business or education. That money will allow you to increase the amount in the pile 1 or to increase the luxury amount of the pile 2.
The most dangerous thing in managing your money are essentially coming from two sources.
Source 1: The Marketing. Companies and peer pressure from the society (also driven by marketing) want you to want things. You need to decide by yourself what you want to do in life and buy things that will let you achieve those goals. Do not let others decide of what you want.
Source 2: Crap quality and manufacturing. Too many things are allowed on the market that should not be. You need to learn about quality and efficiency in the things you buy and stay away from crap. Putting lot of money into something that don't work anymore some months later is not something i like.
For both source 1 and 2, patience is a good asset. Always think some week before buying something to prevent impulse buying. Always research well the things you buy with review, test in store, renting first. Don't think that the newest thing is always the best, ***** ***** something manufactured 20 years ago still beat a new tool. Don't fear to buy on the used market as it is cheaper and easier to test things before buying them.
Customer: replied 3 years ago.
Thanks for your answer. To specify my situation a bit more, I am in my mid 20's, make about 53K a year, had very little money all my life, but have been able to save about 20K in the last year. I tend to save more and more because I'm young and don't know want to do with my life, maybe travel, maybe go back to school.. who knows. and so I use my money as a safety net. That doesn't mean i don't spend though. I purchase food and coffee everyday, buy little goods here and there. But hardly ever large purchases. Recently, I decided to buy a new macbook (because my old one was practically on its death bed), and that was already a tough decision. Because of my poor upbringing, I feel that buying a $2,000 is frivolous. But as you said, i knew that it was quality and EXACTLY what I wanted. Now i am in a similar situation, with a similar product. I purchased an iPhone last February (my first smartphone), and it was stolen yesterday. Naturally, I want to buy the same one, but that means cashing out another $500. For a stupid phone. Of course, I need a phone, I need a smart phone. But i ask myself, "Why an iPhone?" I figure most of it has to do with habit and comfort. its what I'm used to, its user friendly to me. But even this sort of rationale seems entitled to me. On the other hand, I HAVE the money, and considering what I make, and the fact that I do't really have future expenses, and the ones that I do have right now uses up less than half of my salary, it doesn't seem worth the stress. But again, I like to protect myself, and have sufficient funding "just in case" for the future. I know its not black and white, but where is that lining? How do I know how much is too little or two much? Since everyone's situation varies, is there a way to go about figuring out how to indulge and financially protect yourself equally?

If the 53K is before tax and the 20K after tax, then it is a lot considering your age. 10K would be enough. If you want to "feel" a better security cushion do some of those things: Buy a house. Grow a garden to make as much of your own food as possible. Try to become a jack of all trade to depend less on help of Experts (plumbing, mechanics etc...). As for the things you buy, don't see them as money unit but as time unit. Does the time lost in earning the phone is compensated by the time the phone will save you over the entire life of the product? You said it yourself: "and don't know want to do with my life". Money to make money is pointless. Making money to accomplish project is the reason why money was invented in the first place. Find what you want to do by going onto frivolous adventure, idea will come to you that way. Also think of your kid dreams, even if they seem frivolous and impossible those are the one that have the best chance to make you happy. The current marketing that is hammering us with consumerism value of buying into entertainment instead of accomplishing something is the disease of our era. Try to have projects that make sense in bettering your life or the life of those around you. Remember that you are still very young, you have the right to make errors, you have plenty of time to amend them.

Martin, Engineer
Category: General
Satisfied Customers: 4765
Experience: i'm 41 and i never stopped studying and experimenting
Martin and 42 other General Specialists are ready to help you

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Previous | Next >
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
  • Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
  • He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX

Meet The Experts:

  • Dr. Y.

    Dr. Y.


    Satisfied Customers:

    I am fellowship trained specializing in general urology and reconstructive urology.
< Last | Next >
  • Dr. Y.'s Avatar

    Dr. Y.


    Satisfied Customers:

    I am fellowship trained specializing in general urology and reconstructive urology.
  • John's Avatar


    Home Appliance Technician

    Satisfied Customers:

    Appliance repair business owner for over 43 years.
  • Tina's Avatar



    Satisfied Customers:

    JD, BBA Over 25 years legal and business experience.
  • GM Tech (Cam)'s Avatar

    GM Tech (Cam)

    GMC Mechanic

    Satisfied Customers:

    GM Grand Master Technician 2007. 14 years experience.
  • dermdoc19's Avatar



    Satisfied Customers:

    30 years practice in general and cosmetic dermatology
  • Dr. Gary's Avatar

    Dr. Gary

    Cat Veterinarian

    Satisfied Customers:

    DVM, Emergency Veterinarian, BS (Physiology)
  • Dr. Pat's Avatar

    Dr. Pat

    Bird Veterinarian

    Satisfied Customers:

    25+ years working primarily or exclusively with birds