Money is the story we tell ourselves
Our recent vlog focused on an all too common issue – spending more than you earn. It’s remarkable how easy it is to fall into this trap and equally frustrating to be caught in this cycle, struggling to see a way out. The need for ‘instant gratification’ has certainly fuelled this as we strive to keep up with others and their perceived perfect lifestyle (at least according to social media). When it comes to waiting and saving for that new pair of Airpods, we’d much rather get hold of the credit card, buy it now, then worry about it later. You need it now, not tomorrow.
Should we blame the credit card companies for making it too easy to spend thoughtlessly? The constant stream of advertising your hit with across social media banners, street billboards, TV and radio ads, [insert other advertising here]? The list seems endless when you think out it.
In fact, we are surrounded by advertising in our daily lives. It’s become so normal, we stop noticing the intrusive nature of it, thinking we are ‘ignoring it’ when it’s actually tapping into our subconscious. You tell yourself you want a new pair of trainers, but did you tell yourself that, or were you subconsciously influenced by the Adidas trainer advert you see out of the corner of your eye on the bus every morning? That, and the other 000’s of adverts you’ve been exposed to since you woke up.
You see money is the story we tell ourselves. We make purchasing decisions based on our own narrative. These rich, wonderful stories we create.
“I just can’t function without my Nespresso coffee pods. I’m hopeless without them.”
“I will only listen to music with my Apple Airpods. I can concentrate and hear the music so much clearer with those in.”
“The gym and spa are essential for my health and wellbeing. I’d be a mess without it.”
By telling ourselves these stories as to why we have made each purchasing decision we justify the expense in our heads and the rationality for it. Whether there is any truth in it, it doesn’t really matter, it’s the story you’ve told and you believe it wholeheartedly. Afterall, if you can’t believe yourself, who can you believe!
Now I’m all for making the most of now and I am certainly not about to tell you to cease and desist from every spending decision you are about to make. I’ll simply impart some wisdom – before you click ‘BUY NOW’, ask yourself “Do I need this?” or “Do I just want this?” If it’s the latter (and that’s okay by the way), ask yourself can I afford this, or will it mean dipping into debt to get it now? It’s this move into negative society that I encourage you to move away from. Build up your savings, earn the right to buy what you want by living in positive society. Sure it might take that bit longer, but as you start to exhibit this behaviour consistently across your spending habits you’ll start to build your wealth and with that will naturally give you options, opportunities, to then go and spend on the things you love to do. The best part is knowing your doing it guilt free. You earned the right to spend, to enjoy the fruits of your hard work, whilst still keeping a keen eye on having enough for tomorrow.
I look forward to seeing you in positive society sometime soon.
Stay safe, stay well
Keith
Shall we accelerate your move into positive society? Connect at team@spentwell.co.uk and we’ll keep your finances on track.