buying nice things
It’s fairly common in the financial writing and podcast space to find reminders of how expensive cars, big houses, fancy watches, and designer clothes are not usually good uses of your money.
While I don’t disagree that for many, these will not bring the sense of happiness, contentment, validation, or purpose the purchasers seek. For many, chasing these material possessions will lead to overspending, a lack of savings and investments, and possibly debt.
There is no denying this.
However, I don’t believe that if YOU appreciate something that is expensive and falls into the category of “waste of money” by many, you are a bad steward of money.
If a nice watch makes you feel confident and good, then wear one.
If driving a nice car makes you happy, then drive one.
If dressing in brand names makes you feel good, then wear those brands.
Just make sure you are making these purchases for YOU.
If your first instinct is to make a post about your purchase, then you are probably not purchasing your Self—that purchase was for others, which I would agree with the common opinion that your expensive purchase is a waste of money.
Before you head to the Rolex Dealer or Mercedes dealership, this is not meant to be permission to spend frivolously disguised under the pretense that you are doing it for your Self.
Making sure you can afford the purchase is important.
Making sure the purchase is aligned with your values and life plan is non-negotiable.
Making sure you understand the opportunity costs and tradeoffs is recommended.
Make sure the purchase is for YOU.
Again, I want to stress my agreement with the common opinion that you should not go into debt, sacrifice the necessities in life, or rob your future Self for expensive purchases you cannot afford, or even if you can afford them, if the intention behind the purchase is to impress others.
But, if you can afford the expensive purchase, understand the tradeoffs you might need to make, and are making the purchase for your Self, then I say give the purchase serious consideration and don’t feel bad if you end up leaving the store with it.
There is a lot of shame placed on others in the finance space, especially by “experts”.
Shame around poor financial habits, not making enough, or not having enough saved, is where we see it the most — and this is often self-induced.
If you look closely enough, there is also a lot of shame around what others think is “right” for you to do with your money—and this is often placed on others.
If you are living an aligned life, understanding what you value and why, and finding your Self in a position to spend money on things and experiences that others won’t, you aren’t necessarily being irresponsible or a bad steward of money.
The key, in my opinion, is the “why” behind the purchase and the importance of it being for YOU and no one else.
See you tomorrow and keep pursuing,
JC
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