The fast Nickel or the Slow Dime
Which is better? In my pursuit of financial freedom, I've come across this term a few times. I believe the conventional wisdom of this saying is to avoid instant gratification of the quick nickel as the slow dime will be worth the wait.
There's also the fact that, economically, a dollar today is worth more than a dollar in the future. So which is better?
I guess the best wisdom is to strive to always have more income coming in than what goes out. Thats the safest bet. To always put something away for a rainy day, but at the end of the day, to each there own if you ask me. There is no right answer, just like everything else, its whats best for each individual situation.
Knowledge is power. No one has ever taught us about financial literacy. Its not in the curriculum at any public school that Im aware of. At least in a way to be easily understood, and Im sure that is all part of the system. But either way, the more I try to educate myself, the more I find myself getting either crazy stressed out, or getting a little too serious. Even though that can be a good thing because it is certainly important. However, life is definitely short and while it is important to plan for the future, try not to let it stress you out to the point that you are not enjoying nor fully embracing the present.
Thats what I try to tell myself at least.