advice needed

[johnnypoole]

What should I do? Save for the future, or enjoy life today? and reason if possible

[miss_chase]

both!

save a bit away so that when you want to enjoy life in a year (eg buying that plasma telly you have your eye on) you can.

and spend what you have but know how much you have (and develop a fascination for shopping bargains - charity shops/pound shops/cheap supermarkets etc)

My best advice is to set up a standing order for whatever you can afford per month into savings. You won't notice it going out and then you know you always have some money somewhere (for that plasma telly again...)

[woofgang]

was gonna say the same. its not an "either or" situation!!

[dmsjps]

I used to say, 'Try and save some for the future so that you don't struggle when you're old, but don't forget that you're only young once.'

 

Now I say, 'Spend it, enjoy life while you can.' For two reasons.  One, you could drop dead tomorrow, or in five years, whatever. Two, if you don't drop dead at 64 and instead you use up your pension, then you start going dipsy and your kids can't look after you because they're working all the hours God sends to try and build up a good enough pension to be able to survive when they're old, so you have to go into a home, then they'll use all your savings, then sell your house from under you in order to pay for your keep and then you'll die with nothing anyway.

[Romaz]

I agree with dmsjps, and I'd like to add that if you do save for your retirement then the Govt will means test you, and those that didn't save will end up better off than you (its happening now). 

Until the Govt gets its act together and starts sorting out the mess that is the pension system I say spend it.