Enjoy Spending Money

6th May 2015

This Blog, published by Carl Richards of Behavior Gap particularly resonated with us because a lot of our clients seem to battle with the guilt to which he refers.  This is what Carl said (please excuse the americanisms):

“We talk a lot about the need for people to save more, spend less, and think through their buying decisions. We rarely talk about how we should feel when we buy something that we’ve saved for and that we value a great deal. 150506 Behavior Gap

It seems a little silly, but I keep hearing stories from people who feel guilty about spending money. To be clear, we aren’t talking about people spending wildly or without purpose. These stories are from people who’ve saved and planned to make these purchases.

So why the guilt?

For a long time, we’ve emphasized the negatives of spending. I think people now assume they should never feel good when they spend money. I suggest countering this guilt with two questions:

  1. Do we have the money in our budget?
  2. Does this thing or experience align with our values?

If the answer to both is “yes,” then we should enjoy every dollar we spend. After all, if we didn’t enjoy the spending, it makes the planning and saving that much harder to do.”

A Financial Plan helps you understand how much money you need to accumulate and invest for the future so that instead of waiting for tomorrow, you know what you can spend on what you want to do today without the guilt.