It's important for people to have a financial plan for the future and to work toward meeting goals. But it's also crucial to enjoy the present, advisor says.
Here are his tips for balancing the two.The division between "wants" and "needs" is often too rigid for people, Cherry said. "In context, wants are needs, too." It can be helpful to think about how the two are related, he said.
For example, while it's critical to salt away money for when you get older, it's also something many people want to do, Cherry said. That's becauseOn the other hand, spending your money in a way that makes you feel good now can make it more tolerable to practice financial discipline for the future, he said.Hero Images Inc | Digitalvision | Getty ImagesFor one, you don't want your discretionary purchases to interrupt your progress on important goals, he said.
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