Are you pausing or living?

This past week, my wife Lauren and I welcomed our fourth baby girl, completing our family of six. There is something divine that happens when a parent holds their baby in their arms for the first time. Having experienced this four times, I can also attest to each experience being unique. If you’re a parent, what was it like when you held your kids for the first time? 

This past week, the closest thing I can think of to describe what happened was like fast forwarding a DVD. I remember when we first got a DVD player and unlike the VHS that took forever to fast forward, the DVD would fast forward at 8, 16, 32, or even 64 times speed (I think it went to 64, but I may be exaggerating). I’d try to fast forward right to the part that I left off last time, but sometimes if I pushed the button too many times, I’d go too fast and the entire movie would be over in 30 seconds! 

That’s the only way I can think of describing what it was like holding my daughter. It was as if all of her life flashed before my eyes at 64 times speed. I couldn’t describe all of the details that appeared in my mind, but I can tell you the emotion that stuck with me – life moves quickly. 

As we think about our personal finances and move towards the life of our dreams, I want to check in for a second and ask a simple question:

Are you pausing life or are you living life to the fullest? 

First, by now, you know that I believe in an 8 step plan to lay a solid financial foundation for you and your family. I call it your Fuel Gauge. I wholeheartedly believe that if you accomplish these 8 steps, you will be in a solid financial position now and for years to come. 

As I speak with men and women who are working to build a better financial future, there are two groups of people. There are spenders who truly live out “you only live once” and have nothing saved for retirement. But there are also savers who say, “We’ll live our lives once we have completely achieved every financial milestone.” 

Spenders desperately need savers to ensure there is money in savings and retirement. Spenders typically have never paused life - they live it to the fullest 100% of the time and hope that their card doesn’t bounce along the way. 

On the other hand, savers often have no problem stopping everything that seems like an “extra” as they work to check off the eight marks on the Fuel Gauge. Name brand cheese? Absolutely not. Generic until we have a fully funded retirement. Vacation? You’ve got to be kidding me! Why would I pay someone else’s mortgage by renting their house when I have a mortgage of my own? 

Both savers and spenders have dangerous traps that they can fall into on either side. . But they both need one another. When properly balanced, savers and spenders create long term financial success and enjoyment along the way. 

It is to the savers that I’d like to ask this somewhat challenging question: Are you pausing life or are you living life to the fullest? 

If you have kids, you’re never going to get these days back. They will never be 5 again to ride their bike without training wheels for the first time. Working long hours isn’t worth missing that moment. They will never be 10 again to experience a family vacation with their cousins. Getting ahead on your retirement won’t replace those memories. 

As you pursue financial milestones, don’t pause living life. Be smart, certainly. But we’re not guaranteed forever so enjoy the life you’ve been given. The spender you sleep next to isn’t all wrong. They offer a healthy balance to your prudence that will ensure you enjoy the journey as you pursue the life of your dreams! 

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Zach Santmier is the owner of Trumble Agency, Inc. and the author of the personal financial course, Increase. He focuses on helping families escape paycheck to paycheck living so they can freely pursue their ideal future.