Do you prefer saving money or spending it?
At first glance, this question sounds simple. But in real life, it’s almost impossible to choose just one. Saving and spending are not opposites. They coexist in our daily lives. Every day, we spend money to live. Every month, we try to save money to survive the future. Whether we realize it or not, money quietly shapes our decisions, emotions, and even our sense of security.
As adults, money becomes something we constantly negotiate with. Groceries, education fees, transportation, internet bills, family time, and small joys like coffee or hanging out with friends. All of them require money. Because I receive my income monthly, I’ve learned that the most critical moment in my financial life is right after payday. That moment often determines whether my month will feel calm or stressful.
A Simple System That Works for Me
Over time, I developed a simple habit: dividing my income into three main pockets-savings, daily expenses, and education. Savings always come first. Not because I’m disciplined by nature, but because I know how easy it is to spend mindlessly once money feels available. By separating savings early, I protect myself from future anxiety.
Daily expenses cover groceries, family activities, and personal needs like sports memberships or supplements. Education expenses are something I never compromise on, because learning -formal or informal-is a long-term investment. This system doesn’t make me rich, but it makes me feel in control.
From a psychological perspective, this aligns with the concept of mental accounting, introduced by behavioral economist Richard Thaler. Mental accounting explains how people categorize money into different “accounts” in their minds. Even though money is technically the same, we treat it differently depending on its purpose. This explains why separating money early can reduce impulsive spending and increase financial discipline.
Money Habits Are Formed Early
One thing I’ve come to understand is that our relationship with money doesn’t start when we earn our first salary. It starts much earlier,often in childhood. Small habits, like saving coins in a piggy bank or being told to wait before buying something, shape how we see money as adults.
According to social learning theory (Albert Bandura), children learn behaviors by observing adults. When parents demonstrate responsible money management such as saving, planning, and prioritizing-children absorb these values naturally. On the other hand, if money is always associated with stress or conflict, children may grow up with anxiety around finances.
Looking back, I realize that those simple lessons stayed with me longer than I expected.
Saving for My First Laptop
One of the most meaningful financial experiences in my life happened during college. At that time, I didn’t have a laptop—something that felt essential for studying. Instead of asking for one, I made a decision to save and buy it myself. I collected my scholarship allowance and worked part-time.
It wasn’t easy. It took one and a half years of patience and self-control. There were moments when I wanted to give up or spend the money on something more enjoyable. But when I finally bought that laptop, the feeling was different. It wasn’t just happiness.
That laptop became more than a tool. It supported my academic life, helped me write, allowed me to explore ideas, and even served as entertainment during stressful times. Psychologically, this experience aligns with delayed gratification, a concept popularized by Walter Mischel’s Marshmallow Experiment. The ability to delay short-term pleasure for long-term reward is strongly linked to better self-control and life outcomes.
Financial Literacy in the Digital Era
Today, financial challenges look very different. Digital payments, online shopping, and e-wallets make spending effortless—even for children. With just one click, money disappears. Without proper guidance, this convenience can become a silent problem.
This is where financial literacy becomes crucial, especially within families. Children and teenagers need to understand that money is finite, and not everything they want must be obtained instantly. Learning to wait, save, and prioritize builds emotional resilience, not deprivation.
Research in behavioral psychology shows that impulsive spending is often driven by emotions rather than logic. Teaching children to pause before spending helps them develop emotional regulation—a skill that benefits not only finances, but mental health as well.
Money, Emotions, and Mental Well-being
Money is deeply emotional. Financial insecurity can trigger stress, anxiety, and even depression. On the other hand, healthy money management can create a sense of safety and autonomy. According to Maslow’s hierarchy of needs, financial stability supports basic needs like safety and security. Without it, higher-level needs such as self-actualization become harder to reach.
This is why financial literacy is not just about numbers, it’s about peace of mind. Knowing where your money goes reduces worry. Having savings, even small ones, creates a buffer against uncertainty.
Teaching Balance, Not Extremes
In the end, financial literacy is not about choosing between saving or spending. It’s about balance. Spending allows us to enjoy life; saving allows us to feel secure about the future. When we understand our money habits, we make more conscious decisions and those decisions affect our quality of life.
Money will always be part of our lives. The goal is not to master it perfectly, but to build a relationship with it that supports, not controls us.
