Another drop in the personal finance bucket is Conscious Spending. This is a idea that is presented in several personal finance books I’ve read. It’s basically the principle of being conscious about what you are spending your money on. Big surprise right? Hold on, let me explain it some.
There is a key idea that underlies conscious spending that you should be aware of. Read on to find out…
Why it Helps
A lot of common thought is that you need to be frugal and spend less and save more to be financially successful. The problem with this is that many people try to do this and cut out the things they love, like that morning latte.
Conscious spending is an idea that focuses on being aware of where your money goes, and then redirecting your money away from the things that don’t matter much to you and directing it towards things that bring you joy.
By doing this, you still save big in a lot of areas, but because you are still spending on things that bring you joy, you are much much more likely to stay with your new financial plan and be successful. Again, this is a drop in the bucket and there is a lot more that goes along with this concept, but the key that I want to share here is that it is OK to treat yourself. In fact, you should reward yourself once your responsibilities are covered.
Why it Matters for Personal Development
How you handle your finances is completely your business, but you don’t have to sacrifice things you love to work on your goals, you can do both and be successful! So many people have stress with money and its all because they never learned about money.
They don’t teach this stuff in schools, and most families only complain about bills when it comes to money talk. So if this feels like you, i’d highly recommend reading some books on the topic. Two books I’ve read that really helped me understand the Conscious Spending concept are I Will Teach You to Be Rich by Ramit Sethi and Your Money or Your Life by Vicki Robin.
Having your financial house in order allows you to focus more on your personal development and growth! There are so many ways finance impacts your personal development!
I hope this post inspires you to never skip that latte or milkshake if they bring you joy! Life is too short. Those small rewards can really help you keep going! If you enjoyed this post, please like and subscribe for more Real Thoughts! If you know someone who would benefit from personal development and life advice, please share this blog. Lots of great posts to explore.
Thank You for Reading!!