Live for Today or Save for Tomorrow? Finding Your Financial Balance

As a new year begins, many of us are setting goals, mapping out plans, and thinking about the habits we want to strengthen. And whether you’re considering joining a gym, travelling more, starting a business, or shifting careers, there’s one common thread: your finances.

One question I hear often is this:

How do I enjoy today without compromising my future?

Should you book that dream vacation or focus on maxing out your retirement account? Is it better to lean into experiences or prioritize long‑term security? And how do you know when you’ve struck the right balance?

There’s no perfect formula. But there is a mindset—one rooted in clarity, purpose, and self-awareness—that can help guide you.

1. Start With the Emotional Side of Money

Morgan Housel, author of The Psychology of Money, writes that “doing well with money has little to do with how smart you are and a lot to do with how you behave.” And behaviour is shaped by emotion.

Over the years as an advisor, I’ve seen this firsthand:

Some clients with substantial wealth hesitate to spend because they fear running out.
Others spend freely, trusting that the future will sort itself out.

Neither approach is wrong. But both benefit from self-reflection.

Ask yourself:

What does “enough” look like for me?
Am I saving out of fear or out of purpose?
What brings me joy today, and what will bring me peace tomorrow?

We all carry stories, childhood lessons, past experiences, financial wins, and mistakes that shape how we behave with money. Understanding those internal drivers is the first step toward creating a healthier balance.

2. Think Less About “Balance” and More About “Alignment”

Throughout life, our priorities shift as our careers evolve, families grow, relationships change, and our perspectives mature.

That’s why “balance” can feel like an impossible goal, a rigid 50/50 split between spending and saving, living and planning. Instead, consider alignment.

Alignment is flexible, personal, and tied to your values. It adapts as your life changes. It frees you from comparison and instead centers your decisions on what matters most to you.

Here are three forms of alignment worth exploring:

1. Alignment With Your Values

Ask yourself what truly matters to you. Freedom? Family? Impact? Adventure?

When your financial decisions reflect your core values, they feel less like sacrifices and more like expressions of who you are.

For example, someone who values generosity may prioritize charitable giving over material luxuries. Saving feels easier because it’s tied to purpose.

2. Alignment With Your Goals

Ask yourself what you’re working toward and why.

Your goals don’t need to look like anyone else’s. Maybe you’re aiming for early retirement. Maybe you’re thinking about your grandchildren’s education. Maybe you want more flexibility to explore new passions.

Alignment means your money decisions support the life you’re intentionally building—not one shaped by comparison, pressure, or habit.

3. Alignment With Your Stage of Life

Determine where you are on your journey and what you need now.

In your 30s, you might prioritize growth and experiences. In your 60s, it may be health, simplicity, and legacy.

Your financial plan should evolve just as your life does—without guilt or apology.

A Simple Framework for Creating Clarity

Here’s a simple framework to create clarity.

Segment your wealth into three buckets:

Now: Lifestyle, experiences, joy
Soon: Short‑term goals, flexibility
Later: Retirement, legacy, long‑term security

This approach brings intentionality to your decisions and removes the pressure to meet every need at once.

Check your emotional ROI.

Does your spending bring peace of mind or stress? Does saving make you feel empowered or deprived? Money decisions should support both your emotional well‑being and your financial future.

A Personal Story About Alignment

A couple of years ago, when our last child moved out, my wife and I decided our large suburban home no longer aligned with our lifestyle. So, we sold it and moved into a rental in our ideal neighbourhood. It gave us the opportunity to test out this new lifestyle and area of the city with few strings attached.

Then, a year later, an opportunity came up to buy a cottage, something I’d dreamed about for years. With our kids starting families of their own, the idea of creating a shared space for memories felt deeply meaningful. Was a cottage essential? No. Did it align with our values, our goals, and our financial plan? Absolutely. I ran the numbers, thought through the impact, and asked myself:

Will this bring me joy without compromising my future? The answer was yes. And that intentionality made the decision deeply satisfying.

So How Do You Live for Today and Save for Tomorrow?

Begin with three questions:

What do I value most right now?
What future am I preparing for?
What trade-offs am I willing to make?

Living richer isn’t about “having it all,” it’s about knowing what truly matters and aligning your money with meaning.

If this resonates with you, I’d love to hear your thoughts. What does living richer mean to you?

Share your story or contact me at www.livingricherwealth.com