How to Spend More and Not Regret It

by RJ

in Psychology

I have somewhat of a problem. I can’t get myself to spend money and feel good about it.

By no means am I swimming in a pool of money right now like Uncle Scrooge. However, my wife and I have worked hard to get to a point, where about 70% of our income covers all of our expenses and savings.

Even though, I have been out of college earning a salary for three years, including one year living at home working two jobs, my spending habits haven’t changed from college. All of my hobbies, cooking, hiking, reading, golf (I play for free), and yoga are extremely cheap. I don’t drink much, so even if my wife and I go out to dinner, the bill is never over $60.

This is both good and bad. Bad because I sometimes deny myself, something I really want and can afford. Good because every dollar I save, ends up earning me more.

My Life’s Purpose

A few months ago, after reading Master Your Workday Now, I put together my life’s mission statement. After putting some thought into it, I finalized my statement as, “To Love, To Live, To Learn.”  I want my life to be filled with friends and family (love), new experiences (live), and new challenges (learn).

Since right now I have an excess of around 30% in my budget, I decided to create a budget category called, “Expenses in Line with my Life Purpose.” When reviewing my expenses at the end of the month, the goal is actually to spend 30% of my income in this category. Any excess, will be saved to a sub savings account in ING Direct, which I will eventually have to spend on something in line with my life’s purpose.


I don’t write this post to brag about my situation. Even if you have just a 5% excess in your budget, see how it feels to put it towards purchases in line with your values. I promise, if that money is spent on your values, it’s money well spent.

I have been doing this for two months now. So far, I have noticed myself not regretting spending money. I’m no where near spending 30% of my income each month on expenses in line with my life’s purpose, but I’m getting there.


In the comments, please share if you have any tips or tricks on how you spend and not regret it.

Photo by: ReneS

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Sam davidsonNo Gravatar August 21, 2010 at 6:41 am

Well put. I think a lot of people spend money without knowing why they’re spending it. Defining your values first is a key step in this overall process.

RJNo Gravatar August 23, 2010 at 10:22 am

Thanks Sam for the comment.It’s amazing how much costs you can cut, if you cut out everything besides what’s important to you.

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