When the weekend comes, many people say TGIF and are ready to spend, party and relax. Most people want to let loose and to spend 2 days escaping from the jobs they dislike. Too much money and precious time is wasted on weekend escapades. When you are on the road to financial freedom, you must sacrifice temporary instant gratification for your greater long-term economic well-being.
On the weekend a lot of people participate in unproductive activities which consists of impulse shopping, restaurant dining, late night partying… etc. These weekend activities add up to hundreds of thousands of dollars lost in the long run. Most people don’t make long-term financial plans. Most are just satisfied with having enough cash or credit to spend on weekend fun.
Think about average amount of money a typical middle class working person spends on weekend entertainment. A typical Friday night restaurant dinner for two could be around $75. Friday Night movie for two with popcorn and drinks $50. Saturday evening of miscellaneous shopping $100. Saturday night at the bar or night club 75$-$200 depending on where and how you like to party. Don’t forget at least $30 for transportation. On average let’s say a person spends about $325 a weekend just to be conservative. You are looking at about $1000 a month.
Let’s say you invested $1000 month in a S&P 500 index fund at a 10% annual return over 15 years and you will have accumulated around $400k. Over 25 years you are looking at $1.2 million. Its very easy to accumulate a small fortune with your extra weekend spending money. So, let the masses party while you quietly build wealth. Don’t imitate to crowd. Most people are not poor, they just have poor priorities.
Most people never accumulate any substantial money because they are too preoccupied with entertaining themselves. This is not to say you must be a hermit and stay in the house every weekend. There are plenty of low cost or free activities you can do to wind down and relieve stress. Hit the gym, go Hiking, go camping, visit a museum, go to the beach, walk in the park, watch a little Netflix, host a dinner party at home, etc.
It’s also wise to spend the weekend working on a side business. Develop your talents and monetize your passion to produce extra streams of income. Don’t spend the whole weekend watching TV and resting. While you are resting or sleeping, someone else is out there hustling to get rich.
The Masses in America could easily have financial freedom at a relatively young age if they stayed productive and practiced some frugality on the weekend. On the road to financial freedom you must be willing to sacrifice and live like no one else, so one day in the future you can have a life like no one else. The parties and entertainment will always be there.
So when the weekend comes, keep hustling and stay focused your dreams.