Why I Love The “B” Word.

I know what you’re thinking. The “B” word?! Yes, the “B” word. Balance. I love the word because balance to me represents peace, ease, and a flow. When there’s balance, it feels like all is good in the world. Balance is especially important when it comes to your finances and spending. Finding a balance with your spending allows you to enjoy the now, but also create space for the future. There is room for both, even if you’re in debt. I know that may be hard to believe when we’re stressed with money problems, but when we figure out where each dollar is going and get intentional with it, financial magic begins to happen. 

Balance is super important when we’re getting our finances in order because we have goals we want to achieve, but we also want to enjoy our life now. I get it. I’m young and want to live my life to the fullest now. However, I can’t YOLO my finances away. On the surface level it’s not smart, and on a deeper level humans can only consume so much. Once the novelty of whatever we’ve bought/spent settles in, we’re left in the same place where we were before. That’s the thing about novelty. We like it for 15 minutes once it’s shiny and new, but psychologically we get over it and move on. 

This is where balance comes into play. A balanced spending mindset allows us to spend on the things we value and deem important, and still make room for the future. We stop the frivolous spending on the things that make us somewhat happy, to spending on the things that truly make us happy. Now I know that sounds easier said than done. How this works requires some mindset shifting and analysis of why we spend to begin with. A couple of things to ask yourself:

Why am I spending on this?

Is this a need or a want? 

On a scale of 1-10, how happy will this purchase make me once the novelty wears off? 

Is this purchase for short term or long term happiness?

If I proceed to make this purchase, where else can I cut so that I stay within my spending limits? 

Does this purchase align with my values and what truly makes me happy? 

Is this purchase more important than my future goals?

These questions are important to ask ourselves so that we’re not spending mindlessly. I hate deprivation so I certainly don’t want to feel deprived, but my future is important to me so I also want to make sure I’m investing as much as I possibly can. By asking myself these questions before I buy, I’m making sure I’m making thoughtful decisions. I already know I love treats and coffee so I make it a point to spend in that area every week. However, since I’m spending there, I may not have room for shopping outings. I need to decide.

I know this seems like a lot of thinking for small purchases, but over time magic begins to happen and you train yourself to know what’s important and what isn’t. This takes time so at first you will need to do some internal negotiation until it starts to happen naturally. Over the course of time, you may start to notice you already know what you’re willing to spend on, and what you’re not. It’s not because you’re cheap, it’s because it’s not important to you. Having that insight will help you make important financial decisions. 

So with this new tool, go out there and approach your purchases with a “balance” mindset. I wish you balance in your life, so you can treat yourself and enjoy what today has to offer mindfully, but also create space in the now for the future!

What does balance mean to you? What are you willing to spend on without guilt or shame? 

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