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In today’s post we will learn how to make expensive purchases. You need to remember two systems: Conscious spending & Automated finances. Let’s talk about conscious spending first. Conscious spending is a fantastic system to spend money on anything guilt-free. There’s a difference between people who consciously spend on things they love even if they’re expensive and people who simply buy whatever they want and deal with the consequences later. When you consciously spend, you know exactly how much money you have to spend on anything even if it is expensive. It’s OK to spend on expensive things if it’s done consciously (you know exactly how much you have to spend on specific purchases) and you’re saving/investing appropriately.
But to do that, we need to employ another proven system: Automated finances. Automating your personal finances is the perfect system for anyone who loves: Passively saving and investing money, Knowing exactly how much they have in their checking account to spend (even on expensive things!) and Not worrying about paying bills/rent/car payment/mortgage/whatever each month. Once you automate your personal finances you’re going to feel an almost instant change to how you approach money. You’re going to know exactly how much you can spend each month because you got your house together. Each month when you get your paycheck, your money is automatically sent to pay your utilities and rent, invested in your Roth IRA and 401k, AND saved in your savings account for your expensive purchases.
Hope this helps. Come back tomorrow for more inspiration.