Feeling Guilty While Spending? 5 Ways To Stop Spending Guilt
It Is a natural emotion for you to spend your hard earned money and feel less or more guilty about it. We always suffer from a money spending guilt whether it’s big or small.
You always think twice about your spend, no matter what your spending is.
I have the same emotion, and guilt comes to me when I try to splurge on myself.
Sometimes a rough day pushes me into visiting a shopping mall and buying my favourite pair of shoes or sometimes I just need a reason to celebrate and splurge in a high-end restaurant.
Most of the times this guilt creeps in me when I feel that I could have spent my money on making my future more secure, or getting my dream home or something better investment(what better that Is unknown to most or not planned by most).
So one of the ways I tackle my guilt is;
I always reserve some of my Income and name it as ‘Treat Money’ like approximately 25% of my Income, I put in my ‘Treat Money’
I spend my ‘Treat Money’ on Travel, Apparels, Watching a movie in a multiplex, or good food.
Like, One month I spend my ‘Treat Money’ on travel and food, Next month I choose another of my favourite activity or another thing like entertainment or buying a shoe or my favourite Jeans.
Now, What You Can Do About Spending Guilt
Planning For Expenditure-You sometimes don’t plan for your money and spending money on something makes you feel like, you could have made a better decision with that Money.
Now, If you have invested and planned a portion of your money to your future, you need not feel guilty about your spending on yourself.
Limit Impulse Purchase-Impulse purchases can break your budget so always try to think and take some more time before making a purchase.
Evaluate Purchasing what items make you feel guilty, like clothes, electronics and learn what is necessary that keep you sane.
Give Your Money A Meaning-Every Money you earn, give it a meaning, like some money being kept for clearing a debt, paying bills, housing rent or EMI, necessary items, child education, future investment and rest can be spent on treating yourself.
Buy A Quality Item Instead Of Several Cheap Goods– I have felt, buying a cheap item saves you a small amount of your money in the short term but buying a good quality item is more satisfiable in long term.
Spend But Don’t Overspend-Save for Your Life goals and then spend guilt-free, it’s important to save money but you can’t take your million dollar bank account to the grave.
So, rewarding yourself keeps you motivated and interested in your life and career.
Here is a good resource.
So, On what things you splurge and feel guilty?
How do you enjoy your money without feeling guilty and without missing your Goals?