For me, spending money is a challenge, but for others this comes really easy. If you had to label yourself a spender or a saver, which one would you lean towards? I lean towards a saver and my wife leans towards a spender, at least this is how it was when we first met. Now we are both more middle of the road and complement each other nicely when it comes to our finances. Being on the same page in this area makes for a more peaceful relationship as it takes away the “money fights”.
Now let’s get to the question at hand, giving yourself permission to spend. This is done following the steps below:
- Create a plan for your purchase. Moving away from impulse decisions for larger purchases here is HUGE! Curbing our desire for instant gratification and allowing time to plan and prepare will make for a much more enjoyable experience. This plan allows you to save and do further research which adds clarity into our purchase. Having a plan also prepares your mind for the purchase. This avoids “buyer’s remorse” which is the regretful feeling we get after making purchases we aren’t prepared to pay for. We will dig deeper into what we call “healthy money habits” as we post future blogs.
- Modify your budget. Your plan should allow you to modify your budget and build in a savings plan for your purchase(s). Remember, your budget is your friend! It’s your financial guardrails so you don’t veer off course, crash and burn. It allows you to live within your means and still live and enjoy life.
- Go enjoy your purchasing experience! Once you reach your planned amount, go enjoy the purchasing experience. After all, you worked hard to get to this point. Use this as a way to celebrate your accomplishments, knowing you were able to do this WITHOUT destroying your financial well-being!
Giving ourselves permission to spend is a very empowering feeling. We work too hard to not enjoy the fruits of our labor too. Getting to this point takes time, will power, a plan, and solid teamwork (if married). When you get to this point, shopping for items becomes much more enjoyable. It also brings a different kind of appreciation for the items when we use them. This strategy works for ALL purchases and is a great combatant to our “impulse purchases”. Taking ownership and being responsible with our finances is hard but very rewarding. There is a light at the end of the tunnel if we choose to put in the necessary work! Try this for 90 days and see if your impulse urges start to subside. The experts say it takes about 90 days to develop new habits. Don’t wait till tomorrow, start changing your family tree today!! If you try this out we would love to hear about your journey, leave us a comment or send us an email.
Follow us on Facebook: @crossroadzcoach
Crossroadz Coach
“Changing your tomorrow starts TODAY!”
Crossroads Financial Coaching LLC