Prioritize Your Spending

Sadly we are all more willing to spend on things that provide little to no value to our lives. Some of the these same things are even detrimental to our longer-term goals and health. But, yet we spend willingly for the short-term pleasure.

In my early 20s I was fortunate enough to have the opportunity to buy into a fitness club. This provided me with a nice income, benefits, and a pretty good life. However, I was young and dumb and spent money as fast as it came in. And thought nothing of it. I thought nothing of dropping a few hundred dollars at the bar or club each weekend and/or buying more clothes that I didn't need. I was young and very materialistic. The more stuff and the more spent the better. Somehow I did manage to save some money in a retirement account, which was later used to fund the next gym.

This all came to a halt by my mid-20s when I left the current fitness club to start my own gym. Suddenly I looked at money in a whole new light, the materialism vanished and I began to value stuff more. Simply put, my priorities changed. It was food or going out. Food won.

Do I regret the habits of my early 20's? No, because it taught me a very valuable life lesson: material stuff is just stuff. Why did I want it? Because I felt that I needed it to keep up with and stay ahead of everyone around me. Now I would much rather save money than blow it on stuff that doesn't add value to my life. Does this mean I don't still enjoy certain frivolous things? No, but I enjoy them because I enjoy them - not because of the status that comes from them or anything else. Am I cheap? No, I will spend on things that I enjoy and am willing to do so because it makes MY life more enjoyable - not because my neighbors have it.

Why am I sharing this story? Because for some people the spending habits of their 20's never change. The objects may, but the habits doesn't. Instead, of blowing money in clubs, it's now blown on purses, watches, TVs, cars, houses, and clothes. All just for the materialistic pleasure of keeping up with the Jones's. Then when it comes to the important stuff like good quality food, a gym membership, taking a memorable once-in-a-lifetime vacation they claim it costs too much. This stuff will provide you with health and vitality allowing you to get more enjoyment out of the years ahead. The vacation will provide you with memories for life. It doesn't cost too much! The spending priority is the reason. The quick fix materialistic things that help you keep up with your neighbors are taking money away from the things that really matter.

Learn to prioritize your spending by spending on experiences, things YOU enjoy, and things that improve you and keep you healthy. There are no wrong answers to what these things are, as long as they are truly what YOU value and find important. Not just purchases to keep up with you neighbors. Spend like and adult, not a 20 year old.