Should I save a little less?
I (31) have been reflecting on my relationship to money lately. A lot of items around my home (and my car) have broken down lately and I am finding it hard to replace them. I think I might be a little too focused on long-term financial growth. Here are my numbers:
- I make 2100 biweekly + 150-700 side hustle money paid out once per month
- My rent and bills equal 2200/month
- I contribute 500 from each biweekly pay to investments (current split is 30% equities, 70% for a new car in money market funds)
- I earmark 450 per biweekly pay to fun, including travel and discretionary spending (clothing, sporting goods, dining out)
- Side hustle money usually goes to my trip fund or towards new car fund
- I have a safe, defined benefit pension (I contribute ~270 a pay cheque)
- I have an RDSP and contribute enough to get maximum grants, invested in equities (I am largely healthy and expect to work until my late 50s/early 60s)
- I have 21k in RRSPs, 25k in my RDSP, and 12k in TFSA (mostly my emergency fund)
- I have no debts
Between the DB pension and an equity focused RDSP, I think I will be more than okay for retirement. I have been really good about avoiding lifestyle inflation since entering full time work at 28, but my friends joke that I still dress and live like a student. I am really struggling to spend on nice things that I will use like new sheets and nicer clothing for work. Looking for perspectives on those who have shifted their mindset to spend a little more while leaning on the side of frugality.