When we were little kids in a toy store that spotted the toy of our dreams, we had the feeling that we must have it at that instant. We would beg, cry, create a tantrum until our parents caved in. And once that toy came into our hands, it was immediate happiness.
Now as adults we are still just big kids. We still chase that instant happiness, that immediate dopamine hit. For some it’s in social media, others in food and substances. And there are those of us that still find it in a store in the form of spending and shopping. It may appear harmless until the spending gets out of control and priorities shift.
We are no longer little kids. Resist the urge to buy things without thought and embrace delayed gratification. There is a sense of satisfaction that can come from delayed gratification, from the knowledge of making intentional decisions. Avoid lifestyle inflation for the benefit of your financial future. Instead, some healthy habits you can adopt related to spending include investing and saving your earnings, creating financial goals, and adopting waiting rules for big purchases (wait 24-48 hours before buying to ensure it is truly valuable). Other options to consider are not upgrading your car and phone as soon as they are paid off, and swap some take out meals with cooking at home.
MMM tip: For your next material purchase over $100, take a moment to stop and think “is this necessary?” and “for how long will this bring me joy?”.
Until next week,
Dariene
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Disclaimer: This newsletter is for informational and educational purposes only and should not be considered financial, investment, tax, or legal advice. I am not a licensed financial advisor. Please consult a qualified professional before making any financial decisions.
