Aug 22, 2025
Laura has always been a planner. She has diligently kept her focus on her future, and saving every penny was a big part of her plan. Growing up, her family didn’t have a lot of money, so being financially stable was her first priority.
The problem is, now that she’s 35, she feels like she squandered what should have been the carefree, easy-spending days of her youth. When she looks around, it seems like her peers are in similar situations financially, except that they had no qualms travelling, going to concerts and taking time off work in their 20s.
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Laura isn’t so sure anymore that all the scrimping and saving was worth it.
Saving money, but missing out
Working hard and saving her money was part of Laura’s plan even before she went to college. She knew she would need to take out student loans, so she worked a part-time job while she was in high school.
She saved as much as she could to minimize the loans she’d need for school, since that would mean paying less interest in the long run. She also worked when she was at college, and while her friends were away on spring break, she took on extra shifts at her restaurant job.
After college, she went straight into the workforce. Determined to pay off her loans as soon as possible, she cut costs wherever she could — packing a lunch every day, living in a house with several roommates and even driving a beat-up, hand-me-down car.
Now, all that planning has paid off. She lives in a major midwestern city, and is making just over $90,000 a year as a human resources specialist for a tech company. Her student loans are long gone, and she’s been contributing the maximum amount to her 401(k) that her employer will match, so now she has $150,000 in retirement savings. This means she is on track for her age range when it comes to retirement savings.
By saving and investing since she was in her 20s, Laura has reaped the benefits of compound interest. When she is ready to retire, her savings could be as much as double what they would have been if she began saving for retirement in her mid-30s.
Laura also has an emergency fund that could cover six months of expenses, which she keeps in a high-yield savings account.
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She also owns a condo. She made the decision to purchase a two-bedroom unit, so that she could have a roommate, whose rent helps pay down the mortgage.
Despite all this, Laura is questioning all the hard work she put in toward saving. She feels like she should have taken more trips, gone to see those concerts she said no to, and been a bit more frivolous. It seems like everyone around her is in the same place financially, except they also had carefree fun in their 20s. She’s worried she played it too safe and missed out on making memories.
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Changing the balance in your budget
Laura can afford to add more joy and spontaneity to her life, and she’s earned it. But it may be hard for her to change her ways. She could consider changing her budget to ensure that it includes room for her wants, not just her savings and expenses. An example of this strategy is the 50/30/20 budget, which allocates 50% for needs, 30% for wants and 20% for savings.
For a saver like Laura, 30% on wants may be too big of a jump. She could also consider the 70/20/10 budget plan, which allocates 70% to living expenses, 20% to savings or debt and 10% to discretionary spending.
She could also decide on a bucket-list item that she wants to spend on, and then break down the cost, over six months, for example, and build it into her existing budget. Whatever she chooses, making a decision and factoring it into her budget will help her learn to loosen her grip on her spending, and start enjoying the life she’s worked so hard to achieve.
Social media mirage
Laura’s peers may appear to be fine financially, but according to 2025 data, the average American has $62,500 in debt. Remember, people post the things they want you to see online, like vacations and dinners out, but they’re not posting about their credit scores or high-interest credit card debt.
Since Laura is so good at saving and following a plan, by factoring joyful experiences into her budget, she can easily follow a new plan that she sets for herself. A plan that includes fun is still a plan, after all.
Taking the same regimented approach to saving as to spending, she can be sure to enrich her life with the experiences she finds valuable. It may seem counterintuitive, but she already has the skills in place — she just needs to change her goal.
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Rebecca Payne has more than a decade of experience editing and producing both local and national daily newspapers. She's worked on the Toronto Star, the Globe and Mail, Metro, Canada's National Observer, the Virginian-Pilot and Daily Press.
