I want a new car. I want to go on a big trip. I want that new pair of shoes I have been eyeing. It is easy to want and unfortunately, it is also contagious. You get a burst of dopamine that gets your reward center purring and it is harder and harder to resist spending. Have a spending plan can help keep you on track. Putting an intentional 48 hour pause before large purchases can sometimes help your from making bad financial decisions. Reminding yourself that it is not about want you can’t have, but rather the bigger picture of want you want for your life on a larger scale, can save you from making costly decisions.
In this day and age of constant comparison with social media, keeping up with the Jones’ is harder and harder to do. Focusing on what brings you joy, happiness and peace is of utmost importance. When I look at my itemized credit card or bank statement, I should see spending that reflects my values. If I don’t, it is time to reevaluate what is important to me and what I am will to trade my money (ultimately time) for.