I grew up in an environment where we thought about money as a scarce good: there was never enough of it, and the potential of running out of it was always there, hanging in the air. This led to the thought that in the present we have to spend as little as possible. The fear of what would financially happen in the unpredictable future is something that was embedded in my childhood pictures and memories of the Hungarian society. I grew up during the time when Hungary had recently transitioned out of the Eastern bloc and a socialist system, learning its way into capitalism and democracy. My grandparents' generation would still be active on the job market, with their experiences of World War II, including scarcity, recession, and barely making ends meet. Then in the early 2000s the economic growth that everyone expected from democracy never happened. What did happen though was an economic crisis, hitting everyone hard. In this context it seems quite natural to look at money as scarce and save every penny possible – these are coping mechanisms against macroeconomic shocks and uncertainties. These are also the values based on which I developed my own money habits. I'd try an economise and save wherever I can, I'd budget and monitor my expenses carefully.
Late last year when I was considering whether to move back to London a key question was about finances. I easily get stressed out in environments pushing me hard on the financial front, and London is not exactly famous for being affordable. As I moved back, I'd be most careful of what I spend on. I'd make every single purchase a significant financial decision. I carefully consider the best value for money, compare brands, choose the right product that's healthy but the cheapest per kilo. Doing this doesn't actually tire me: I am in a flow and I feel motivated when I see that I can save.
However, I have recently noticed something else too. There was this dinner I was invited to. Initially, I decided to reject the invite: the cost of it was above the threshold of what I consider as affordable. And then later I asked myself the question: what am I saving for? All the money I wouldn't spend, where does it go? Beyond saving for a future house and retirement, beyond supporting people around me, what else should I keep that money for? And then I thought: money should also be an enabler. I decided to sign up for the dinner and I'm happy that I'm going. I will keep being conscious of my money habits, and monitor my spendings. But I will now be setting up a small pot for entertainment, for a few things I simply just want to have or enjoy in my life.
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