Do You Ever Feel Guilty Spending Money?
February 3, 2009 – 10:06 pm
Do you ever feel guilty about spending money? I used to, and I still do at times, but the situation has changed and my financial life has improved.
Prior to having a budget I used to feel bad every time I’d spend money over a certain amount. While I was in school and right out of school that amount was about $20. It didn’t matter if it was a necessary expenditure or if I was just blowing it on food and drinks. I didn’t have a goal or a plan, and I was essentially going wherever the currents took me.
Now, eleven years later, several things have changed in my life. I’ve paid off a lot of my school debt, I have a plan for reaching my financial and non-financial goals, and I’m making steady progress. The key learning for me from a guilt perspective involved creating a budget.
I realize most people view a budget as a time-consuming and often fruitless attempt to control ones’ spending. They would argue that they won’t “be able to have any fun” if they stuck to a budget. My experience has been the exact opposite. I’ve discovered that a I have MORE rather than less freedom with a budget, and I no longer feel guilty when I spend money. By having a budget I know exactly where I am with regards to my plan, and if I budgeted to spend $40 this week on dining out, so be it.
The other thing a budget has done for me is it has helped learn to spend more wisely. We’re all on a fixed budget, whether we admit it or not. Provided I’m living within my means, I can achieve the ultimate financial freedom by exercising my ability to move money from one budget category to another. This ability encourages me to make the most of my purchases, and I find that I think about this every single time I make a purchase. If it makes me happy and is available within my budget, I spend the money. If I won’t get the maximum value from my money by using it to go to a movie, for example, I choose to skip that purchase.
So what makes me feel guilty now? Making purchases that don’t yield the maximum benefit. Things like buying items without getting the best price. Going to movies that are terrible. Wasting money. These are the kinds of purchases that I feel guilty about. I don’t beat myself up about these things too much, even when it’s a big mistake (like overpaying for my house). I simply try to make better decisions going forward, and a budget has helped me move forward much more quick than I ever expected.
Image Credit: quazie
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3 Responses to “Do You Ever Feel Guilty Spending Money?”
I found that after setting up our budget spending money was a lot more fun, just like you said. We have a specific category in the budget for “blow money” – money we can spend on whatever we want, without guilt or our spouse getting upset. It’s awesome!
No more spending guilt!
We also can go out to eat, etc without feeling bad because we have the money budgeted. If we don’t – we don’t go out to eat – simple!
By Pete on Feb 6, 2009
Even though I do have a savings account for “diddle-it-away money,” sometimes I do feel guilty spending it, especially if it’s an expensive indulgence. Hangover from Bag Lady Syndrome days, I guess.
By Funny about Money on Feb 6, 2009