In my last two posts, I went over the “Latte Factor” and excuses for not saving money. Maybe those posts got you thinking about your money. Those posts were a lead in for today’s post. There are many reasons why we all spend our money how we do, but what drives our spending? Does your spending reflect what you want your life to look like now and in the future? Or do you get pressured by your environment and feel like you need to ‘keep up with the Joneses’? Do you get swayed by marketing and advertising to buy things you don’t really need? It is time for you to figure out your ‘why’ with money. The ‘why’ with money are the reasons you (and your significant other or family) want to spend and save your money. Your ‘why’ should reflect your future financial goals.
In the United States, we live immersed in excess. Nearly every single person in America has things they don’t need. Not only that, the evolution of advertising and marketing is getting so complex and ‘intelligent’ that you likely buy things because of targeted and successful advertising. That is a battle we all face now and will continue to in the future. Knowing your ‘why’ may be an incredibly helpful tool when you get those temptations to buy things you don’t really need (and may not really want).
Finding Your ‘Why’
Although it will take a little time and energy, finding your ‘why’ might be easier than you think. Do you know what your ‘why’ is? One of my earliest posts, “Spending with a Different Mindset,” had a simple, straightforward exercise of making list of 10 things you want to do in the future (experiences, places to visit, or things to own). In that post, my list of 10 things is included, and they are all travel destinations.
Another way to find your ‘why’ would be to ask yourself:
What things would greatly reduce the financial stress in my life?
For me, the four things that would greatly reduce my financial stress are:
- Completely paid off home
- Zero debt
- 12-month emergency fund
- Monthly income greater than normal monthly expenses
Yours may be similar, more complex, or simpler. Some other examples could be:
- Paid off car/truck loan
- Paid off student loans
- Paid off credit cards
- Saving some money every month
- Having a certain dollar amount saved
- Knowing how much you spend in a month
Remember, we are all different people, and we are talking about personal finance. It is certainly expected for everyone to have different lists. Hopefully, this post will keep you thinking about your personal finances and ready for April, which is Financial Literacy Month! We will dig in to the six steps of the ‘Rat Race Off Ramp’ during the month of April.
Sign Up for the Weekly Off Ramp! And send in a topic you want to hear about on the Contact Us page. Follow me on Twitter 
Facebook 
and Pinterest 