Let me set the scene. You’re in a club with your favorite people, the latest T-Pain song is playing (did I just date myself?) and you’re sipping an apple martini. Don’t judge me! That was my drink of choice during my college years until I knew better. Imma tell you like Maya Angelou told me, “When you know better, you do better.” I’m pretty sure Maya wasn’t talking about apple martinis, but I digress…
You are dancing the night away when the best idea known to man occurs to you. Why don’t you buy a round of shots for your friends? The bartender has your credit card because you had the brilliant idea to open a tab, all you have to do is order the drinks to have the best time ever! You become the Oprah of shots.
That Familiar Feeling
Fast forward to the morning after, I was dreading checking my bank account and regretting the amount of money I spent. This was me in my 20s more times than I can count. Whether it was a night out or a quick Target run that surprisingly totaled $200. I was living in the moment, with no intentionality or clear goals, wondering where my money was going and feeling like I had no control over my money.
That familiar feeling of regret, otherwise known as buyer’s remorse, crept over me and was overwhelming. As if regretting the purchase wasn’t enough, my inner dialogue was brutal, full of self-deprecation, and yet I repeated this same behavior pattern like a vicious cycle. Fun times.
From the outside looking in, the solution may seem simple. Of course, I had control of my money, I am the only one that can decide where my money goes. I had to stop spending money on things I couldn’t afford or care about. Problem solved. Easier said than done.
By now we know that money is much more than numbers. If it were just about the numbers, it would be easy! Our beliefs and emotions related to money have a bigger impact on our financial decisions.
Say Goodbye to Buyer’s Remorse
Being intentional with my spending helped me combat buyer’s remorse. If you have also felt the overwhelming feeling of regret after a purchase, here are 3 money habits that helped me become an intentional spender:
- Expense Tracking: Track your spending to see where your money is going. Becoming aware of where my money was going was eye-opening. Holy Hell! Numbers don’t lie and let me tell you, I was completely unaware of how much I was spending in certain categories!
- Sinking Funds: Set money aside for short and long-term goals like vacations and large purchases. This will help you stay motivated, and it is way more rewarding than impulse spending. I used to think I couldn’t afford vacations, it turns out I could. I just had to be intentional and prioritize those things over a night out.
- Values-based spending: Spend on the things you value. You are in charge of where your money goes so you might as well spend it on the things you love. This will help you spend money guilt-free without feeling deprived.
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