112 - If You Feel Guilty About Spending, This Is For You!
In this episode of the Mind Money Soul podcast, I’m going to be sharing what to do if you feel guilty spending your money.
There are two main reasons you might feel guilty about spending money: either you're not saving or investing enough to progress financially, or you're successfully building wealth but have a poor relationship with money. I’ll be helping you identify the source of your guilt and sharing tips on how to find the perfect balance between saving, investing and enjoying your money.
Some people save or invest most of their income, waiting for a certain point—like retirement at 60—to enjoy it. But as you age, your time, health, and energy diminish. If you keep waiting to enjoy your money, many of the things you're saving for might not be possible or desirable later in life. It’s crucial to seize opportunities and live in the now. If you wait to spend your money, your habits can become so ingrained that you’ll struggle to shift to a spending mindset later, and you'll keep finding excuses to postpone. That said, don’t spend everything—balance is key. This comes down to improving your relationship with money, budgeting and setting financial goals. The ultimate goal is to achieve financial freedom in order to retire comfortably and enjoy your dream life, but also to spend your money and create memories that will continue to pay dividends and last you a lifetime.
In this episode:
Examples of how you might feel guilty spending money
The two main reasons behind money guilt
Practical tips for overcoming guilt around spending
Exploring the emotional side of money and why you deserve to enjoy it
The consequences of waiting until retirement to enjoy your money
Resources
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Get a copy of my FREE Monthly Spending Planner Template
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