In Your Spending, Target Only Things You Can Actually Control
Prefer to listen rather than read? Pair this post with Deliberate Money Moves Podcast: In Your Spending, Target Only Things You Can Actually Control.
We are too good at beating ourselves up and in our finances that happens most with our spending. While I love knowing what your spending is, be careful not to be too critical too quickly.
You are living a lifestyle and whether that lifestyle will work for you depends on what you have and what you will make in the future. Putting those three things together is what planning is all about.
Align Your Spending with Your Values
Financially speaking, when you match your spending with what you truly want, it will greatly increase the chance of doing everything you wish to in life. It’s the wasted expenses that really hurt us in the long run which is why I think it’s important to know and review your spending.
That said, don’t get distracted with expenses you can’t control. One of the things I’m thinking of here are the costs of living in your local area. Things like housing, utilities and even taxes. Instead, start with your everyday discretionary spending. Those things you actually choose to spend money on each day.
Focus on What You Can Actually Control
It could be the number of times you eat at a restaurant, or it could be your multiple fitness memberships. Maybe it’s streaming subscriptions that you never watch or perhaps it’s the type of wine you buy. These things are much easier to align with your values than where you live or how much you pay in federal income tax.