It’s funny how people have different emotions when it comes to spending money. Some feel enthusiastic and enjoy spending their hard-earned money, and others don’t like spending at all. Some even feel almost guilty when they buy something. You may also experience this most unwanted emotion when you make a purchase.
Is it okay to feel guilty about spending money? How can you avoid that nagging feeling? Feelings of guilt can be an emotional indicator that you have done something wrong or that it may be a sign that you are too hard on yourself. Here are some tips to find out if the debt is justified or not.
When you have to feel guilty about spending money
Feeling guilty can be a good thing in the following cases. It is essentially your conscience that motivates you to change the way you do things and to do what is good to get rid of guilt.
1. You break a promise
Let’s say that you and your important others have agreed not to make any purchases this month, but you are going to buy a new pair of shoes. Or maybe you agreed not to buy television until Friday, but you just can’t wait any longer.
If you said you wouldn’t spend money, keep your word. How can someone trust you when you go back to your word? Even worse, how can you trust yourself?
2. You told your spouse not to
I have to admit that I am guilty of this. Last month I told my husband not to eat out because we were far beyond budget in that category. But what did I do the next day? I went through a drive thru because I was hungry and I felt guilty for it – and not just because of the high calories I used. Fortunately I have a forgiving husband!
3. You are already beyond budget
If you allow yourself $ 50 worth of fun money every month, then enjoy it. But once you’ve reached that limit, exercise your self-control and wait until next month to buy a new pair of shoes or anything that catches your eye. You only deceive yourself and your household by giving yourself too much.
4. It’s not your money
I’m not talking about stolen money. Instead, you may feel guilty if you have not actively contributed to the money you spend (that is, it often happens with income inequality in marriage). This does not necessarily mean that you deserve it completely. You can contribute by cleaning the household, watching the children, shopping or sometimes just by having an open ear and a smiling face for your family members. But if you are a couch potato living and do not make any active contribution to your household, your debt is justified.
5. You live an excessively indulgent lifestyle
There is nothing wrong with indulging yourself once in a while. But when your entire lifestyle becomes indulgent, you miss giving to others and saving for your future. Ask yourself if you are wasting or reckless with your money.
For example, if you know that you are collapsing for almost every impulse purchase, consider how you can spend your money otherwise. Then bring some discipline into your spending pattern and think about what else you want to do with the money when an impulse purchase occurs.
6. You lie about spending money
If you spent money when you said you wouldn’t do it, or if you spent money when you didn’t tell your partner, or if you spent money when you were already on budget, and then lied about it, then do you feel Bilbo Bagginsijk double guilty. Although debt is not the only reason why people lie about spending money, it is one of the main culprits.
7. It puts you in debt
If you are debt free, why would you ever put yourself in it again? If you have debts, why would you dig deeper? This is just like using money that is not yours because it belongs to the bank, a credit card company, or a friend. Make sure you have no debts, save some money and reward yourself with small excesses to prevent economical fatigue.
That is the right order to properly process your finances, not vice versa. Otherwise you pay for it in the form of interest charges, possible late fees and, rather, Bilbo Bagginsijk, a lower credit score.
When you don’t have to feel guilty about spending money
If your budget is tight, it can be difficult to justify even the smallest expenses. Here are some examples to help you determine when to release the debt.
1. It was budgeted
Let’s say you budget $ 50 a month to buy what you want and you see a pair of shoes that you absolutely love. No, you weren’t planning on buying shoes that day, and you have no reason to buy them except for the fact that they were watching you. But as long as they are less than $ 50, you shouldn’t feel guilty about buying them. You have consciously decided in advance that it is good to spend $ 50 on yourself each month.
2. You saved yourself for it
You’ve spent extra hours at the office, you’ve had a number of side jobs, you’ve stayed within budget, and now you finally have enough money to buy that iPad. Go for it because you have literally earned it. If a large bill hits you at the same time, don’t feel guilty about buying what you’ve earned, as long as you have other means to pay the bill. No new toy or gadget is worth the debt.
3. When you are well prepared
Pay yourself first by putting money in a pension fund, such as a 401k or Roth IRA. Then make sure you have a large emergency fund that your family can support for six to twelve months if you lose your income. If you are well prepared, you will have your reward later. So don’t feel guilty if you reward yourself a bit now.
4. When you share the wealth
I firmly believe in giving oneself, whether in money or in service, to others. If you regularly give time, money or material goods to people in need, you live a life of stewardship. By placing others before yourself, you already show that you have a selfless nature about yourself. Buying something for yourself does not take away that fact.
5. When you need it
Like many mothers out there, my body after baby is not exactly what my front baby body was, and my clothes just didn’t fit as before. But unless you are a growing teenager, buying clothes tends to fall into the “will” category rather than the “need” category.
But our need to dress ourselves properly is precisely that, a need. There is no reason to feel guilty about fulfilling that need. If you think you need something, be honest with yourself and determine if it is really a need. How well can you go without functioning or will you unreasonably stretch yourself by buying it? After considering this, I bought myself a new wardrobe and didn’t feel guilty.
6. When you are living an economical lifestyle
When you live in a small house and drive an older car, you have more flexibility to pay for the things you want, such as a night out. When you consider what kind of lifestyle you want, remember that the frugal will enable you to save more, give more, and have more money to pamper you occasionally without feeling guilty.
7. When it is a gift
Many people make it a habit to spend gifts on items they need. If you get a gift card from Target or Amazon, don’t feel guilty if you buy something for yourself to enjoy, instead of dog food, a new trash can or anything else you need for your household. The gift giver wanted you to have fun with the money, so don’t disappoint them. And whatever you do, do not use gift money to pay your bills unless that was the purpose of the gift, otherwise you will lose debts.
How do you prevent you from feeling guilty about spending money? The answer is simple: by managing your money wisely. Make a budget, stick to it and live a sober lifestyle, but allow yourself some flexibility and freedom to have fun. The most important thing is to be honest with how you contribute to your household and reward yourself accordingly.
Do you ever feel guilty about spending money? How do you deal with it?
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