What do you spend your money on?

We like to make money – and this blog is dedicated to that goal. But once we get to our goal, the most important thing we can do is remind ourselves why we’ve worked so hard.

Before you set out on your journey to make a million dollars, you should figure out what the whole point is – what are you going to do with it?

Experiences or possessions –

If you had a sudden influx of cash – say $2000, and could use it just to play – what would you choose to do with it? Linking your financial goals with your values goes a long way in making that money reflect what is important to you, and can go a long way to help you live a more fullfilled life.

Do you want to make millions so that you can make larger contributions to your favorite charity? Do you want to adopt an underpriviledged child? Do you want to buy a cottage so you and your beautiful wife can spend more relaxing alone time together? Those are all financial goals that reflect the greater value in your life.

A greater sense of satisfaction

It’s been proven that spending our money on experiences rather than possessions gives people a greater sense of satisfaction and joy in life.  I recently read an article that outlines exactly why this is. 

http://www.accumulatingmoney.com/spend-your-money-on-doing-things-rather-than-owning-things/

Align your financial goals with your values

An example of my financial goals include purchasing rental properties which will help me pay for my housing costs, so that I can work less.  Since the biggest chunk of my income goes to paying for housing costs, having a way to subsidize this with investment income will open so many opportunities.  When the day comes that I can reduce my work hours and maintain my quality of life – I will be able to spend more time with my family, and work on my passion projects without worrying about living expenses.

This is an example of aligning my values (spending time with family, and doing work that I value and feel passionate about) with my financial plans.

Ask the right questions

Just keep asking yourself – why is this important to me?  If working less is important – why?  The answer leads you to your life value – so you can spend more time with your friends and family.  Try it out!