Spending - Heart Matters

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3. Goal-Oriented Spending

a. Taking responsibility for spending decisions


If we can tell the difference between basic needs and nice-to-haves or wants, we can monitor our spending more effectively. This sounds simple, but is actually very difficult for most of us.

The trickiest part is that many of our needs can turn into wants in the blink of an eye. Have you ever gone to the store looking for something simple and came out with the most expensive, fanciest version of that thing? Maybe you need shampoo and end up with expensive designer shampoo or you need a sandwich and end up with a super large combo meal.

The opportunity to turn wants into needs is endless. The trap that we often fall into is to put the responsibility on someone other than ourselves. Once we do that, it’s like we give ourselves a license to spend – and often overspend.

Next time you are getting ready to spend, take a moment to really think about your spending and take responsibility for it. When you’re about to buy something you can’t really afford, think about the decision as your own – not to impress your friends or because the T.V. ad made it look cool. When you think about spending in that way, you may be able to make a more rational decision based on rational beliefs.
 

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Spending

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