Do you spend money and always regret? Here's how to exit this trap

ET Online

Feb 18, 2022

​When guilt follows spending

Inability to spend even when there is adequate wealth, and to use that wealth when there is an abundance of choice is a common syndrome.

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​The mind manages allocations well

Identify and earmark extras that are easier to spend than the primary income. What is not seen as drawing from accumulated wealth is relatively easier to spend.

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​Be minimalistic, not miserly

Don't let your choices be driven purely by the price of something. Appreciating the difference between being frugal and being stingy is critical.

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​Love and treat yourself as you would others

Accept that you are as important as other family members. There is no need to undermine your needs and comforts, even as you go extra miles for others.

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​Do not be vocal about compromising

Every discussion need not be acrimonious if preferences are known. Make it easier for yourself and for others to spend on what matters to you.

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​Don’t throw a tantrum, be gracious

If you are spending, stay within your line of generosity. You don’t have to make an announcement. But you need to be honest with who you are.

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​Choose comfort for yourself

Don’t obsess about leaving a fortune for your kids. They may not need it. Allocate a portion of your wealth for yourself. Your wealth is primarily yours.

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​Life's richness lies in its experiences

Each spend need not result in a physical outcome and a product. Make your choices based on honestly evaluating how the experience feels for you.

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​Every spend need not be on yourself

If you have more wealth than you can spend, you owe it to society to share. Enjoy the joys of quiet giving and give without expectation.

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Thanks For Reading!

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