I’ve heard many people refer to “retail therapy”. Although with many, it seems to be an, almost, religious experience. I’ve been guilty of being a devout shopper in the past. So what’s changed for me?
I’m not any better or advanced than anyone else. I’ve been on a lifetime journey to be the best I can (still getting there!) and to be happy (I’m there!). Over the years, my education, plus books I’ve read that delve into spirituality and behavioral economics are influencing how I choose to spend my money. I’ve finally figured out that shopping / consuming are not all they’re cracked up to be.
You may be excited when you acquire some new material possession. You look at it, admire it, admire yourself for your wise purchasing decision and fantasize about how it’s going to improve your life. Indeed, it may all seem to be true: at first. Unfortunately, sometimes, even before the bill comes in, the new may have worn off. Worse yet, a bigger or better version is quickly introduced. What’s the problem? Just go buy a new one, upgrade, trade it in, move to the new neighborhood. Or not. The marketing geniuses know how to push all the right buttons. We’ve got to come to the realization that we are not our possessions. And we have to realize that we’re fighting a losing battle. The richest person on earth could build the biggest, nicest house on the planet and someone will, eventually top it. How far do you go?
I’m not suggesting that you shouldn’t enjoy yourself – you should. Just know that material possesions are just that. When we feed our ego, it is never satiated. It always wants more. The only way to break the cycle is to focus on others or, at least, outside of yourself. Spend quality time with your spouse or partner, your kids, your extended family or friends or even your pet. Do a project that gets your hands dirty instead of picking up the phone and hiring someone to do it. Take a hike in a beautiful park or wilderness. You could even try volunteering. Where to start? Search “how to find volunteering opportunities” online or go to http://www.volunteermatch.org/.
So what does this have to do with financial planning? Actually, a lot. If you spend less, you can easily save more. If you save more you can be more financially secure. This is a cycle too. I’m thankful to have enough in my life. Enough love, enough food and shelter, enough money. When we realize we have enough, we automatically put the brakes on our spending.
There is so much life to live. Enjoy yourself.
