“If you want to save, you have to stop buying things you cannot afford.”
You’ve probably heard the above statement on countless social media posts, vlogs and blog posts across the innanet streets. When it comes to the solutions of saving more, paying off debt and investing, most experts lead with affordability (money); however, money alone isn’t the issue. Alignment is.
If it were easy to solve a money problem by telling others simply what they shouldn’t buy, no one would have a money problem. It’s not that many of us don’t have the dough; we lack the direction in which our hard-earned money should flow. Here are three ways you can re-shift your spending habits so you can build wealth.
Reevaluate the purpose of money in your life.
Money isn’t the prize. You are. The easiest way to spend a lot of money is believing that money is the prized possession and the end all, be all. Money is simply a tool to build the lifestyle you want for yourself. If you desire financial freedom, money should serve as a co-conspirator in helping you live on your own terms and not your loan terms. Assess your relationship with money by seeking ways to use it as a tool beyond solely spending it on things that aren’t aligned with your goals.
Unfollow, unsubscribe and unrelate.
Just like you don’t simply need to stop spending, you don’t always need to take a social media break because the problem may not be social media. Let me remind you if I haven’t said it enough already: It’s about alignment. Social media is not the root of all evil in the 21st century because it’s never about the tool but rather the way it is used. When was the last time you’ve done a social media audit where you evaluated your following and feed?
There is nothing wrong with subscribing to social platforms catered to entertainment. However, if you only want to be entertained, that’s all you will be exposed to. However, if you want to be elevated, it’s in your best interest to follow social platforms that will help you reach your financial goals.
There should also be a re-evaluation of who we surround ourselves with offline because those you spend the most time with can have a direct influence on your purchasing behavior. If you hang around eight unaligned individuals, you will more than likely be the ninth. Get to a place where you begin unrelate to qualities that are not conducive to your renewed spending habit.
Replace your impulsive purchasing with intentional buying.
We live in a consumer driven world where the product is never the thing you buy but it is the emotion. This is particularly true when you see yourself represented in the marketing and advertisements of those products you purchase every day. And if there is a sale, you then force yourself to believe you need to spend because it is on sale.
Spending with intention starts with having a plan. It starts with being in control of your money without companies influencing where your hard earned money goes.
You should ask yourselves the following questions: Do you have a plan to spend on experiences? Do you have a plan to spend on business needs? Do you have a plan to spend on education? Do you have a plan to spend on networking opportunities?