Would I rather be glad I bought the latest iPhone, or be glad I saved money for a vacation so that I can relax with my amazing wife Lily Tirone?

That’s the question I posed last week, when I suggested that you ask yourself a simple question before making a spending decision …

At the end of my life, would I rather have this or that? (If you missed this post, you can read it here.)

This is Part 2 … a follow up on last week’s post. I wrote it

on Tuesday because a lot of people pointed something out …

This question can be applied more broadly and expanded beyond the topic of finances. It can be asked to guide the choices we make and determine whether these choices are in line with our life values.

This week, something came up that hit home for me …

My wife (Lily Tirone) and I are taking our kids to the Bahamas.

I want you to have a little taste of what my family looks like, so I’ve posted a picture below. My oldest, Ava, is five. Dominic is almost four, and Luke is about two and a half.

At any rate, this is a really special vacation because it is probably the last time the Tirone family will take a vacation together … just the five of us.

See, Lily is about three months pregnant, so in six months, Baby #4 will be here, and the Tirones will be a family of six!

Now, if you are a parent, you can probably imagine what it’s like getting the Tirone family through the airport. Lily and I have three car seats, a triple stroller, bags of baby gear, books for the kids to read, toys … the list goes on and on.

Lily and I basically look like pack mules, and no one ever wants to be behind us in the security line. Frankly, it’s kind of a nightmare.

It’s really tough traveling with three young kids, and both Lily and I have had thoughts of not going … it would be a lot more convenient to just stay home.

But if we stayed home, I’d inevitably end up working. I know I would. In the Bahamas, I’ll turn off my cell phone. I won’t check my email. I’ll tell my staff to call the hotel room only if someone is bleeding.

The Tirone family of five will be able to spend some really special quality together-time.

And at the end of my life, I’m going to say, “I’m sure glad I spent that time with my kids and with Lily. I’m glad Lily and I hauled my unruly young kids through security line and suffered the headaches.”

If we decided to skip the vacation, I’m positive that I would never look back and say, “Boy, I sure wish I hadn’t gone on vacation with my family and had stayed home and worked instead.”

Every single time we take a vacation together, our family grows closer and closer.

In fact, when I come back, I’ll tell you what I learned on this trip!

For now, I just want to encourage you to remember to make choices —

financial or otherwise — that reflect what you want long-term. These choices might be inconvenient in the short-term, but if they honor your life values, you won’t look back and regret them!

If you have any thoughts about this, or if you want to share your stories, be sure to post a comment below!

- Philip Tirone

I want to ask you a question that could solve your financial, credit, and debt problems …

But first, a quick story …

One of my friends, Jocelyn, told me that she was in tears for two days.

A mom with Baby #2 on the way, Jocelyn had decided to let go of her nanny …

She told me she felt a little silly crying about it … compared to some people’s problems, letting go of the nanny is hardly a big problem.

But it was a big lifestyle-decision for Jocelyn and her family. You see, the nanny has cared for their daughter since she was four months old. And with Baby #2 on the way, Jocelyn’s family is going to need a nanny again in about four months.

But her daughter just started preschool, and her son isn’t due for about two more months. Once her son is born, Jocelyn won’t be working much during the first few months.

She figured she could save a boatload of money by letting go of the nanny…

But the decision made Jocelyn sob. She was going to have to hire another nanny once she went back to work.

Jocelyn couldn’t image leaving her new child alone with a stranger. The thought made her sick to her stomach.

Then Jocelyn’s sister said something smart:

“I don’t think this is an area where you should be frugal. If you want to save money, sell one of your cars. Think about it … at the end of your life, would you rather look back and say: I’m sure glad we had two cars? Or would you rather say: I’m sure glad we buy viagra online made sacrifices so that we could surround our children with people who love them?”

Jocelyn thought about it and realized she could make a ton of sacrifices elsewhere. She and her husband could plan their meals a little better and save about $200 a month in groceries. They figured a way to lower the amount they paid for car insurance. And they made a deal with the nanny that made financial sense for everyone involved.

They made it work.

So what does this have to do with credit?
A lot of credit problems are actually spending problems. People make rash, spur-of-the-moment choices that don’t reflect their truest desires. They buy the latest iPhone instead of paying a credit card bill. They buy a new pair of shoes instead of saving money for a vacation.

If you think you are someone who makes bad decisions when it comes to spending money, ask yourself the same question Jocelyn asked: “At the end of my life, would I rather have this or that?”

Ask this question before making any purchase or budgetary decision:

At the end of your life, would you rather look back and say: I’m sure glad I had the latest iPhone? Or would you rather say: I’m sure glad I pinched pennies and saved money so that I could take care of my debt problems, invest in my child’s future, and take

relaxing vacations with my family?

Spending money is almost always a choice between one opportunity and another. Just make sure you are taking advantage of the right opportunity and putting your money where it matters!

Please share your thoughts with me below!!

- Philip Tirone