Conscious spending is where you direct your dollars aligned to what matters most to you.
Awareness plays a key role. You need to be aware of your values and aware of where you spend your money.
I feel that the pandemic has catalysed us to reflect on what matters most to us.
It’s also made us more aware, experientially, of how fragile our personal financial situation may be.
Before the restrictions lift and we slip into the comfort of our old habits, now’s the time to design our new normal for our money.
Three ways to spend consciously:
Save for the significant
Deliberately and automatically set aside money each pay to facilitate those life experiences that really matter to you.
Minimise the insignificant
Much of our spending is automatic. Regular deductions for things we decided to join a long time ago, and habitual spending on brands, conveniences and comforts.
Bring your spending back into the light and consciously decide what to keep or cancel.
Just like certain foods nourish your body better, certain spending better nourishes your soul.
Prioritise spending on experiences and items that have the longest-lasting impact on your happiness and well-being. I’ll share a deeper dive into this soon.
I can help you adjust your budgeting system to make the above easy. If you find yourself in isolation with a little bit of extra time on your hands, now is a great time to take that step.