Beating Broke

Personal Finance from the Broke Perspective

Are You A Peter Pan Spender?

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Peter Pan bust at DisneyanaEverybody is familiar with the story of Peter Pan, right?  That old tale about the boy who refused to grow up and spent all his time flying around neverland with his friends?

Well, you may not realize it, but you probably know a few Peter Pans yourself.

I Don’t Want to Grow Up!

What makes a Peter Pan spender?  If you think about it, it’s pretty simple really.  A Peter Pan spender is someone who spends like a child.  Always buying the new flashy thingy that catches their eye.  Someone who spends their money with little regard for the future, because, if you stay young forever, you don’t need to retire.  And it goes without saying that a Peter Pan spender doesn’t save for the future.  After all, if you plan on living in neverland all your life, the future is full of pixie dust and pirate tales.

The Fall of Pan

So, where does all that fun an frivolity get you?  Eventually, it gets you from neverland to nowhere.  Sure, you had fun, but what are you going to do when the fun is over?  The hard truth, like a ticking clock in the belly of a crocodile, is that you’ll end up trying to live on social security alone.  Or worse.

Return to Neverland (Recently remodeled and renamed to Sometimeland)

Growing up doesn’t mean you can’t have fun.  It just means you have to have fun with responsibility.  When all the bills are paid and you’ve socked away a bit for the future, have all the fun you want.  Just like Peter Pan finds out, growing up doesn’t mean that all the fun is over.  It just means that the fun changes somewhat.  It’s not all pain and torture, and there are some bright spots that come with the added responsibilities.  Learn how to save and invest for the future and to responsibly pay your debts and the fun will be readily available too.