Are you tired of feeling guilty every time you spend money?
The second guessing and questioning whether you made the right decision on any purchase can be frustrating and overwhelming.
This WBJM episode gives you a simple 4-word question to spend money guilt-free.
Say goodbye to buyer’s remorse, to comparing yourself to others and how they are spending money, and feeling bad about how you’re spending money.
We’re all in on helping you trade your money stress for money confidence that’s aligned with your dreams and goals.
(00:16) Why this simple question relieves money guilt
(01:12) How to make money a neutral part of your life
(03:50) The one question you need to spend money wisely
(05:35) How to get more value out of all of your purchases
(06:20) How to make every purchase regret-free
(09:01) When to confidently say no to a purchase
(09:42) How this 4-word question grows your confidence for every life decision
Resources mentioned in this episode:
FREE GUIDE: 5 Things Everyone Should Know About Money
Check out the previous episode: How to Break Up With ‘Shoulds’ To Better Your Life
Full transcript:
Hi there friend! Today I want to talk about the one question that you need to start spending money more wisely.
Sounds super simple right?
All you need is this one question and it will start to relieve that guilt that you feel after you purchase something.
It will help streamline and simplify your thought process and your decision-making as you’re wondering whether or not you should make this purchase. And it just helps you set yourself up for more success in terms of how you manage your money. And honestly, you’ll see when we get to the question specifically I think it could even help you in other areas other decisions that maybe aren’t directly related to money but are still questions that you’re not feeling totally sure of.
So let’s go ahead and talk about why this question is so important. Because at Wealth Beyond Just Money, we feel that money touches every aspect of your life if we’re being completely honest.
Money touches every aspect of your life, but it should be a neutral participant.
Doesn’t that sound amazing?
So what if instead of seeing a $40 price tag on an item that you really want to buy, what if you see the shoes that you’re going to wear on your next date where you may just meet your future spouse or soulmate? Amazing!
Or what if instead of $100 price tag, you see the bag that’s going to let you take a three week trip around Europe?
What if instead of a $70 price tag you see the blazer that you’re going to wear when you walk into your boss’ office confidently I might add to make your case for a promotion and a raise.
And just imagine that if instead of seeing the sole price tag the dollar amount that you’re going to be shelling out for something what if you could see the possibilities? What if you saw what that item was going to get you instead? Don’t you think that that could help a whole lot with not feeling so frustrated or guilty about the purchases that you’re making? It could make things so much simpler.
Because when you’re buying the opportunity instead of just the item that’s going to hang in your closet or sit on a shelf it makes all the difference in the world.
That’s what we mean by money should be a neutral participant. We shouldn’t feel guilty about spending money. We shouldn’t feel guilty about carrying debt. We shouldn’t feel guilty that we’re using our money in a way that maybe is different from others. It should be there to help us get closer to the things that we want and it should be there to help set us up for the future for the goals that we’re trying to achieve.
And so if we keep that in mind as we’re talking about spending money more wisely, I think the question that I’m about to give you is going to make a whole lot of sense. And to put it very simply this question is only four words but it’s so powerful.
The question is “is it worth it?”
I’m going to break that down for you. So when we think about making purchases when we think about spending our money if we use this question this little four letter four word question “is it worth it?” It’s going to answer a lot for us with just those four words.
So if we break it down the way that it works “is” makes it a yes or no right is this thing right? Yes, or no, “it” is whatever you’re buying. It could be an item. It could be a trip. It could be an experience. It could be anything. So yes or no is the thing you’re buying or whatever you’re buying “worth” which just means that you could pay the amount that they’re asking and feel good about paying it. And then the last “it” being what you’re paying for whatever you’re buying.
So if you say that again “yes or no is the item or trip or experience that you’re buying worth meaning you feel good about paying the amount. Is it worth it? What you’re paying for it. So hopefully that makes sense.
But basically all we’re trying to get to is a yes, or no answer to whether or not you feel that what you’re being asked to pay for something is worth that amount.
You’re going to get that much or so much more value out of it. And the way that we kind of see that is through those experiences and through those lens changes that I was just talking about.
So instead of seeing that blazer, you’re seeing the opportunity to get that promotion and raise. And in that case if you get a 10% raise on whatever you’re making right now it’s going to be so much more than the you know the $70 or $100 whatever it is you’re paying for the blazer.
So it’s worth it as long as you’re getting the confidence you’re getting the item that you’re going to wear. It feels right to you and that is such a key component as well. Because the thing with money and with buying whatever it is you’re looking to buy it doesn’t have to look like anyone else.
No one else in your sphere, no one else in your friend group, no one else in your family has to be like yeah I would pay that for that. You don’t need them to validate your purchase for you.
If it feels worth it to you that’s all that matters. That’s the purchase worth making. That’s the purchase you’re going to get so much value out of regardless of what it’s costing you right now.
That’s what the question “is it worth it?” is there for. And so what we find is that money can buy experiences buy opportunities. It buys the things that you need or want and it isn’t inherently good or bad. It’s what you do with it that matters.
And that’s why we wanna make sure that you’re buying things that you’re spending your money in a way that feels worth it to you. And that you’re not looking at someone else to see how they are benchmarking how they’re spending their money it’s all about what feels right to you. What aligns with your goals with your next steps with the things that you’re trying to accomplish and the way that you want your life to look.
It doesn’t have to look like anybody else. And that’s I mean looking at the same purchase whether it’s an item or a trip or an experience the answer to is it worth it can be completely different for different people. There isn’t a one right answer to any one purchase.
Because it answers the spending decision to your goals to your current situation to what you value. So use the question is it worth it to get to the heart of what you want and whether or not the purchase is worth it to you.
And so if we use the question in practice, it goes something like this… yes I really want whatever the item is. Yes it’s the right price for me and yes, I have the money to pay for it.
You know it’s not going to throw off your other money or life goals that you’re prioritizing and spending on in the moment. It’s aligned with what you have already said you’re going to be doing. So it’s aligned with you seeking that promotion. It’s aligned with you spending more time on yourself and taking those vacations.
It’s aligned with what you want for your life right now and you have the money to pay for it.
So needless to say it’s a very loaded question but the question itself is so valuable. Because it helps you get to the heart of how you want to spend your money and it keeps your spending in check.
Because if you say no to any of those questions then it’s probably not the right purchase for you at this time. And no doesn’t have to be no forever but for the time being maybe it’s best to look for a different option or something else to get you where you want to be, towards the goals that you have for yourself at the moment without setting you off track for any of the others.
So with that being said, I said at the top of this that this question could help you with other decisions not necessarily money directly. And hopefully you can start to see that now the question is it worth it is great for learning to spend money wisely, but it can also help you with big decisions you’re making about your life. Like is taking this leap in your life worth it. You know is walking away from this relationship worth it.
Are you going to gain things that you didn’t foresee that you wouldn’t be able to if you stayed or if you made a different decision.
And so hopefully you’re starting to see the opportunities and the perspective that you could have as we start to look at our life from “are we making the decisions that are right for us in this moment?” And my four little my four word little question is so helpful.
It helped me and it helped a lot of other people to understand how their decisions impact their life and their goals and what they want for themselves in this moment. So hopefully that makes sense to you.
And if you’re just getting started with spending money more wisely or your money journey, I have this free guide that is all about five things. We’re breaking it down super simple.
Five things everyone should know about money. And so again if you’re just getting started or even if you’re a little bit more experienced if you wanna make sure that your foundation with money is solid, grab this free guide.
I’ll link to it below and in the show notes. And you can get into the five things that you should know about money and build your foundation from there. All right that’s all that I have for today.
As always feel free to leave a comment if you’re watching on YouTube or if you’re on one of the podcast sites, please feel free to reach out to me on TikTok or Instagram @wealthbeyondjustmoney. I’d love to hear from you!
Until next time, keep building your wealth beyond just money.