Financial responsibility is a topic that has been brought up on many occasions. Many podcasts, gurus and advisors all mention the same thing: “focus on saving money first.” Growing up, many of us are taught that we should save, save and save, and that financial success means spending less money and preparing for the future. Saving is essential for stability and security, but it is only one part of financial well-being. Understanding how to spend money is just as important as saving it. Spending wisely on things such as lifestyle, relationships, and personal growth can help individuals grow and develop in meaningful ways.
I have always had a strong mindset when it comes to saving as much as possible to avoid difficult situations that may require money. However, as I have gone through life, I began to realise that being overly focused on saving sometimes meant missing opportunities to connect with friends and take part in meaningful experiences. Thoughtful spending is not irresponsible; it has the ability to strengthen friendships and contribute to a more balanced life. It also helps us recognise where our money creates real value. For example, investing in a nice suit to make a good impression at a job interview, buying a thoughtful gift for a friend’s birthday or spending on one's own mental well-being.
At the same time, it is important to acknowledge that economic opportunity can feel uncertain and difficult to access for many people today, especially for immigrants like my own parents. With the rise of AI, we are seeing many companies lay people off, and jobs that once required human workers are now at risk of becoming non-existent. Saving provides a sense of protection and control, especially in a world shaped by AI, where financial security may not always be guaranteed.
The reality is that conversations about financial literacy should not judge people for prioritising saving but instead help individuals find balance — learning how to prepare for uncertainty while still making thoughtful choices that support growth, opportunity and well-being.
