Today on my daily Youtube search I came across this gem about being financially mature. The author shares 7 tips for being wise with wealth, and I thought it was insightful, helpful and delightful, maybe you will too.
The 7 tips are not my creation, they come from The Financial Diet | Youtube, but I did watch the video and provide my own summary of the 7 tips where I thought it was valuable.
Without further ado, *The Financial Diet | 7 "Grown-Up" Behaviors That Are Wasting Your Money. (Youtube)
7 Tips for being Wise with Wealth:
- Alcohol: Getting drunk on "top-shelf" costs more, but does the same thing. If you drink, save by drinking at home.
- Housing: "Having a big home doesn't make you a grown up, having a home that works for you, and doesn't drive you crazy, does."
- Treat yourself: It's important to treat yourself however its best to incorporate low cost entertainment events: potluck, book clubs, etc.
- Fashion: Own what you need, wear what you own. "Create a wardrobe that is based on simple, functional, versatile items that can be... used for everything from date-night to going out with friends."
- Wedding Parties: "Bachelorettes trip, bridal parties, matching dresses, engagement showers didn't exist 30 years ago... an adult wedding includes what matters to you, but is done for a price you can afford".
- Negotiating: Know what you will pay and be firm, it is not "grown-up" to pay too much.
- Vacations: Travel should be fun and exciting but it shouldn't cause you to go into debt to do it. Remember, you don't get to leave your debt abroad...
My Thoughts:
Without question these are wise words for using wealth effectively. At the core, its clear the author admires denouncing the public pressures propogated by keeping up with the Jones'. We see our friend's trip on Instagram, or their Amazon purchases on Facebook, and we begin to feel left behind, and we fall into the rat-race. We begin to accept the lie that more is best, and joy can be bought. And I think its deeply important to push-back on the lie.
Enjoy your money, but do not look to purchasing power or things for fulfillment. Buy what you need to live and be free from the chains consumerism would lock you in; you will be better off for it.
Because I assign such a high value to not being consumed by consumerism I really appreciated this content. I subscribed to The Finacial Diet, and I look forward to going back and learning from their catalogue.
More About: The Financial Diet
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