Most people fall into one of two categories. They are either savers or spenders. Savings are often prioritized for the future to secure retirement and financial security. Spenders prioritize their everyday desires and requirements while maintaining a sound financial situation with the idea of covering their retirement obligations in the future with better income or innovative solutions.
Both of these ideas have advantages and disadvantages.
People who joined the FIRE movement (financial independence/retire early) now say they wish they hadn’t. Only one-third of American seniors have enough funds to live on, while 63 percent live paycheck to paycheck.
But as a typical individual, which is the better option for you? Saving money or spending it?…