قالب وردپرس درنا توس
Home / Insurance / Are you spending money where you spend your time?

Are you spending money where you spend your time?



Happiness lies in spending money where you spend most of your time, according to a new article from the 19459003 New York Times

.

As a financial planner, I have echoed this message for years, encouraging people to think about what they spend their money on and the effect of these purchases.

Glamorous holidays and killer wardrobes can give a smile to just about anyone's face. These are temporary purchases that do not have a shelf life. Instead of buying experience, why not consider bribing money to upgrade your daily life? Spending your money on smart purchases to improve your life can have long-lasting benefits. Here are three steps to evaluate if your expenses work for you:

Understand the Balance

Marie Kondo's The Life-Changing Magic to Tear Up: The Japanese Art of Clarifying and Organizing * the book and now the netflix® series sweeps the world by storm. If you think about it, the core motto is life in measure and balance. She has created her own system to help others clean up their space and find balance with the things in their life that spark joy. If you feel better about your secret, the place you spend most of your time on can have long lasting effects on your overall well-being.

Why not clean up areas of your finances and think about where you are targeting your money? Whether you're getting a big tax allowance or pricing a strong boost at work, it's simply smart to have a plan for how to spend your money. As a financial planner, my message is always about balance. You may want to focus on finding a sweet spot between spending money to upgrade your life, spending money on your financial goals and spending money to have some fun.

With this balanced strategy, it would only make sense to consider allocating some money to upgrade the areas of your life where you spend the most time. For example:

  • A new bed to help improve sleep quality
  • A new car to improve your mileage and reduce maintenance repair costs
  • New kitchen tools to motivate you to stop and cook
  • ] One new office chair to use when working at home that is back friendly

There are so many examples of smart purchases that have a direct positive impact on your life and your health. Achieving a balance between upgrading the areas of your life where you spend the most time and spending money on things that make you happy and beyond your goals is the game.

Know the value of your purchases

All you spend your money on has value. It can be as simple as a cup of coffee to give you some extra mojo in the morning, or a couple of fantastic new sheets to make you feel good when you go to bed. Being aware of the value of your purchases can help you save and spend your money wisely.

The temptation is to spend your money on things that are short-lived, like an exotic trip to Bali or an expensive meal out on the town. While these experiences are memorable, they generally lack a lasting impact on your everyday life. But it's certainly a place and a time to hang yourself, and you're probably the best judge when it is.

You may also like

Take a list of your home and your time

A good exercise is to find out your home and the areas where you spend most of your time. Think of your house, your bedroom, your kitchen, your car and your workplace and create a list of ways to improve the quality of life in these areas. Sort your list with this criterion in mind:

  • What does the cost of the product improve the quality of life?
  • How much time do you spend on average with this item?
  • Give each object a rating of 1, 2 or 3 from 1 (critical) to 3 (important but can wait).
  • Take a look at how much excess you need to spend and divide it up based on your ranking system. [19659009] You can even put a date next to each item so you can plan ahead and still have some money left to spend on your fun purchases.

Do not know that you need to lie up in all parts of your life. Many larger purchases can have a dramatic impact on other areas. For example, a new high quality mattress that can increase your sleep level and also affect your overall wellness and diet management. These types of purchases where you can identify more than one sphere of influence are probably smart ways to spend your money.

Paying debt and other financial goals is crucial to building a strong financial base. In addition, splurging on a trip or luxury clothing is fun for everyone. But the next time you enter the money, think of areas in your life you can upgrade that would have a dramatic impact on your daily life. If you take some time to think about where you spend money, you can get a lot of balance in your life.

* Copyright © 2019 KonMari Media Inc.

Netflix is ​​a registered trademark of Netflix, Inc.

Shannah Compton Game is a Certified Financial PLANNER® professional with an MBA and host the award-winning podcast Millennial Money, where she shares totally relatable and easy To understand financial advice that actually allows you to talk about money.

Haven Life only offers this information as general education. Haven Life does not support the companies or offer the products, services and / or strategies discussed here.

Haven Term is a Term Life Insurance Policy (ICC17DTC) issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA. 01111 and offered exclusively through the Haven Life Insurance Agency, LLC. The number and features of policies and riders may vary by state and may not be available in all states. In New York, Haven Term DTC-NY is 1017. Our license number in California is OK71922 and in Arkansas, 100139527.


Source link