I recently encountered someone who talked about spending their money fast or slow. It got me thinking what are the differences. Basically spending your money fast means when you get money, you end up losing it immediately to buy whatever it is you want. Spending your money slow means once you acquire your money, it takes time for you to spend it but at the end... you still spend it anyway. It made me realize that even if you save your money to spend it eventually, you are still somehow losing money. The point is not when you spend your money but where you spend your money on. You can spend your money immediately but are you spending it on something worth its price? Something valuable? Something that is necessary?
Because ultimately, whether we like it or not, the current economic system, especially when it comes to money, means that sooner or later we will spend it all if the situation remains in the form of fiat currency, given that the quality of value and several other factors require us to continue circulating the money we have in order to sustain our current lifestyle.
Does this mean we cannot save money? Of course, the answer is yes, but we must be aware that the concept of saving is to support our lives in the medium term, not the long term, which means that we will eventually spend our savings on our needs or simply to pamper ourselves by buying the things we have always wanted.
However, on the other hand, I agree with the statement that it is not how quickly or slowly we spend our money, but how we spend it. If the benchmark is only for the short term with an uncontrolled and wasteful lifestyle, then there will be no change in our economic condition and future. However, when we are smart in managing our money by making efforts to support our old age, such as investing or making our money flow healthier by doing good business, then we will certainly be more focused on our old age, which could be much better than those who dont do so.