There’s a dangerous little sentence making its way around social media: “I’ll make the money back.”
It’s usually followed by some variation of: “But I’ll never be 25 in Copenhagen again.”
The TikTok trend shows people travelling, eating incredible meals and having once-in-a-lifetime experiences while arguing that money can be earned again, but time can’t.
As a financial professional, I’m supposed to tell you this is terrible financial advice. Except I’m not sure it always is.
Money is ultimately a tool for building a life. Saving every possible dollar for a future you haven’t reached yet isn’t financial success — it’s delayed living. But there’s a catch: “I’ll make the money back” only works if you actually can.
That matters especially now. Doomspending — the impulse to spend when the future feels too uncertain to bother saving for — has entered the financial conversation just as many Canadians are struggling to keep up. The National Payroll Institute’s 2026 survey found 44 per cent of working Canadians are financially stressed, while 28 per cent would struggle to meet their obligations if their paycheque were delayed by just one week.
So before booking the flight, buying the concert tickets or saying yes to the destination wedding, put the expense through what I call the “I’ll Make it Back Test.”
Is the window actually closing?
Some experiences really are time sensitive. Your kids will only be five and seven once. Your parents won’t always be healthy enough to travel. Your favourite band might not tour again. A family member’s health may mean the opportunity to travel together won’t always be there.
Others aren’t. Paris will probably still be there next year. So will that fabulous pair of shoes.
Ask yourself: What specifically will I lose if I wait 12 or 18 months?
If the answer is nothing, you’ve found something you want, not necessarily something you need to do now. Let it wait, stay out of debt and save up for it.
Can you actually make the money back?
This is the part social media skips. Canadian consumer debt reached a record $2.64 trillion in the second quarter of 2026, according to TransUnion. Average non-mortgage debt among Canadians carrying it rose to $28,118. For households already stretched by higher living costs, adding high-interest debt only makes the math harder.
Putting an $8,000 vacation on a credit card isn’t simply borrowing from the bank. You’re borrowing from Future You.
Get specific about your make-it-back strategy. Before spending, determine exactly how you’ll replenish the money. If you can’t answer that, “I’ll make it back” is a hope, not a plan. Get creative: work extra shifts, use points, sell higher-value items you no longer need, hunt for deals — or delay the experience long enough to save the cash.
Know what you’re trading
Every dollar has more than one possible job. Five grand could buy a patio makeover or a fantastic trip. It could also pay down debt, build an emergency fund or be invested.
That doesn’t mean investing automatically wins.
Calculate the tradeoff and then consciously choose. If your financial foundations are solid and the experience matters deeply to you, spending the money may be exactly what it’s there for. Good financial decisions aren’t always the ones that leave you with the most money.
Don’t turn every want into a once-in-a-lifetime experience
This is where the trend gets dangerous. A trip with an aging parent may truly be irreplaceable. Bottle service in Miami because you’re “only 42 once” probably deserves a little more scrutiny.
We’re remarkably talented at turning wants into emotionally urgent needs. Introduce a pause before these purchases and ask yourself, “Will I remember this in five years?”
If you’re going into debt for an experience you probably won’t remember, reconsider it.
Sometimes, spend the money
Personal finance has spent decades teaching the opportunity cost of spending. We talk far less about the opportunity cost of waiting.
There are experiences you may be able to afford at 60 that you won’t be able to enjoy in quite the same way. There are years with your children, parents and friends that you can’t compound and get back later.
So save. Invest. Build an emergency fund. Keep high-interest debt under control.
But once those foundations are in place, give yourself permission to spend intentionally on the life happening right now.
Sometimes, you really can make the money back.
You can’t make the time back.
