There’s a lot of financial content out there on how to save money. But there’s a lot less advice about the other side of the coin: how to spend money.
The reasons seem obvious. Why would we need advice on how to spend money, when clearly spending money is the “bad guy”? Isn’t that the thing we’re trying to avoid, eliminate, reduce, restrict, discipline, control?
As you start to align your spending to your core values and start increasing your return on spending, you’ll start to notice a shift in how you feel about spending money. That’s not to say every value has to have a dollar figure, but if you printed out all your spending transactions, what do you think they would say about your real priorities and values?If there’s a mismatch between what you think your values are and what you’re actually spending money on, maybe it’s time to rethink your values or realign your spending.Most people want a return on investment. But few think about their return on spending.
Think about things like hiring a personal trainer, working with a therapist or relationship counsellor, engaging a career coach – these are things that have little short-term gratification but the potential impact to your overall quality of life, long-term, is pretty high. But if you really want to increase your return on spending, start noticing – how much of your spending has a meaningful impact on your life? If you look at the lifespan of your spending, how long does the impact last? A moment? A day? A week?
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