How to Be Okay with Guilt Free Spending
You may think that this blog post doesn’t belong here. But, I beg to differ. The journey to achieving financial independence can’t be a miserable one (unless you’re into that). I believe that life should be lived each day while actively planning for the future. What good is it go save and invest aggressively while not enjoying the present? What good is a $500,000 investmentst portfolio if you won’t allow yourself to buy a new pair of shoes you’ve wanted for a year and won’t go out to eat once in awhile with your friends? I believe that balance is important but too often people that are paying down debt and investing their way to early retirement (or the option to stop working) feel guilty for spending money. I believe that there are some reasons for that.
They Feel Guilty for Spending Money on ‘non essentials’
This has happened to me numerous times before. I make a budget and want to stick to it. I have saving and investment goals. Even when I meet them, I sometimes feel guilty about buying non essentials because that takes away money that can go to buying stocks that will help me retire even faster. Also, in the grand scheme of things, $100 dollars now can be worth over $1,000 in 30 years if you use an 8% interest rate (being modest). Life is not only lived by buying and experiencing what is ‘essential’ for you to live but also by being spontaneous and sometimes allowing yourself some luxuries if you’re able to.
The Guilt of Wanting to be a Minimalist
Minimalism isn’t the same as being financially independent, but sometimes they do go hand in hand. It’s not uncommon to find content creators that are working towards saving and investing to reach financial independence and have also discovered minimalism in the process. They found the value in only owning items that they use everyday and not accumulating extra things that are unnecessary. I’ve gone through times in my life when I was a digital nomad and it made sense for me to only travel with a backpack and a small carry on bag. I sold and donated a majority of my items in order to travel and work remotely. I fully embraced minimalism. Fast forward 4-5 years later and I’m now a parent and have naturally accumulated more items than I’m used to having and I’ve learned to just be okay with it. I can’t have a clean, simple minimalist home but I am also very vigilant to continue to donate extra clothes, toys and items that I’m not using to not create extra clutter in our home.
It’s Hard to Do What Makes Us Happy ‘Just Because’
I don’t know about you, but it’s much easier for me to buy or do something for someone else than it is for myself. I’m not sure why but I’m just naturally a giver. That means that I had to learn how to prioritize myself, have self care days and to happily buy things for myself ‘just because’. It’s taken me awhile to get to this point. I pay off my credit cards in full each month, I have a 6-month emergency savings fund, and I invest $2,000 a month towards my early and regular retirement. I meet all of my goals first so that I can spend on myself and my family and not take anything away from myself. I can spend on myself to make myself happy and know that it’s not taking away from my future financial goals.
In conclusion…
How do you feel about spending money on yourself? Do you still feel guilty for buying yourself a nice meal, a new shirt, or anything else that isn’t ‘necessary’? If so, please comment below and I’d love to hear from you!
