On the other hand there are others who found a happy medium as they enjoyed their single status while preparing for the future as well.
Thats the key to making the most of the both worlds a single man has a foot into. While you can go out and make merry as often as youd like to, since there are fewer responsibilities about familial expenses to meet, single men also have an opportunity to think about the future and save for the rainy day. And its not as difficult as some might think and you wont have to make huge sacrifices on your lifestyle either. If you bear a few things in mind about saving for the future, you can ensure that you live it up comfortably and have a solid plan for times to come.
Single Man Lifestyle: Things one should focus on
Just because you want to save for the future, you are not expected to stop going out with your friends. But you can definitely cut down on the number of night outs and make yourself huge savings every month. It also gives you a break from night outs and the subsequent burn out that many youngsters face today.
Many single men have chosen to rent flats, which might not be a bad idea at an early stage of your career. But if you plan to buy a house in the city or wherever you are, you might want to start thinking about the down payment for your house. You could benefit from looking for a flatmate to share the burden of rent and put your savings towards the down payment of your house.
If you own a big car, you need to ask yourself if you really need it for yourself. Its not only expensive to run but maintain as well. Buying a small car might be the right solution for you. But if you want to stick to your car, you can also think about car pooling with friends and colleagues to save yourself costs.
Many single men and their gadgets are inseparable and its perfectly understandable. But it doesnt mean you have to buy every latest gadget thats out there in the market. It will only add to the financial burden on you every month when you could be saving for the future.
When it comes to investments, you can consider mutual funds or life insurance policies for that matter because they will bring good returns for you in the long run.
Its possible to lead your single man lifestyle and yet works towards a secure future.