Money coaching tip: Jan 11, 2010 – Clarify your values and align your spending
Jan 11th, 2010 by nancyzimmerman
What’s important to you in life?
- friends? hospitality?
- travel?
- a nice-sized nest egg?
- causes?
- the environment?
- your home?
Take some time to clarify and prioritize these, then keep these in mind as you spend – are your hard-earned dollars going toward the life you want, or being frittered on things that don’t really matter that much?
My priorities have changed this year. In the past, it was about hospitality. This year, it’s more about geeky things (I bought an apple TV! and a big-screen TV! and a digital camera! and an iPhone! see? I wasn’t kidding…) – perhaps because that helps me still feel very much in touch with people I care about who are scattered across the globe.
I also think it is a good time to reflect on what we need and what makes us happy. These thoughts are good for the soul, but they can also be good for our wallet. Do I really need that other pair or shoes or should I take my shoes to the cobbler to give them new life?
I agree, it is nice to have a big tv. Since we got one we spend more time together at home, eat more at home versus at the restaurants. IT is all about balance.
I like that you included “what makes us happy”. We often get the message that effective money management is about only buying what we *need* and saving/investing the rest. That’s an austere approach! Life is to be lived and enjoyed, but we can only do that to the extent that we are self-aware about what brings us lasting happiness.