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So, What Is Healthy Spending?
A quick set of filters I use to evaluate every purchase I make.
Even as a saver, I’ve come to terms with the fact that I can’t avoid spending my hard-earned money from time to time.
But as someone who’s also worked for years to break toxic spending habits, much of my writing has focused on what to avoid in order to build wealth.
So the question remains of what healthy spending looks like.
Put another way, what kind of spending allows us to strike that sweet yet elusive balance between preparing for the future and savoring the present?
Over time, I’ve come up with three questions that help me identify the purchases that allow me to do just that.
Here they are.
Question #1. Can I Make a Case for It?
In order to answer this question in the affirmative, I need to prove that the item I’m considering solves a real problem in my life, I know the full cost of ownership, and I’ve thought about buying it for some time.
If I can’t do all three without reaching, I’ll pause the purchase for a week.
I like this question for two reasons. First, it ensures that I’m only spending money on items that add value. Second, it’s far more effective than willpower…
