Mindful Spending: Because YOLO Doesn’t Mean You Should Go Broke

Let’s talk about something that’s not so fun, but oh-so-necessary: budgeting. Before you start groaning and rolling your eyes, hear me out. I know budgeting can be a total drag, but I promise it doesn’t have to be. In fact, with a little bit of mindfulness, it can be downright enjoyable (OK, maybe I’m stretching the truth a bit, but be sure that it doesn’t have to be awful).

First things first, let’s talk about what the heck “mindful spending” even means. Essentially, it’s all about being intentional with your money. Instead of mindlessly swiping your card and hoping for the best, you take a step back and think about what you’re actually spending your hard-earned cash on. It’s like meditation, but for your bank account.

You work hard for my money, shouldn’t you be able to spend it however you want? Well, sure, but here’s the thing: being mindful with your money doesn’t mean you can’t have fun. It just means you’re making conscious decisions about where your money is going. You’re taking control of your finances instead of letting them control you. It doesn’t mean you stop doing things you like or stop buying things you want, you’re just more aware of what you’re doing.

So, how do you get started with mindful spending? The first step is creating a budget. I know, I know, it sounds boring, but stick with me. Think of it like this: creating a budget is like creating a roadmap for your money. You’re deciding ahead of time where you want your money to go, so you don’t end up lost and confused (and broke) later on.

Now, there are plenty of fancy apps and spreadsheets out there to help you create a budget, but if you’re anything like me, you probably don’t want to spend hours crunching numbers. So, here’s a simple trick: take your monthly income and divide it into three categories: needs, wants, and savings.

Your needs are the things you absolutely have to pay for, like rent, utilities, and small details like food. Your wants are the things you’d like to spend money on, but aren’t essential, like eating out (I’m looking at you Starbucks seasonal menu) or buying new clothes. And your savings, well, that’s pretty self-explanatory.

Once you’ve divided your income into these three categories, you can start making conscious decisions about where your money goes. Maybe you decide to cut back on eating out so you can save up for a vacation, or maybe you realize you’re spending way too much on subscription services and decide to cancel a few. Whatever your priorities are, the key is to be intentional with your spending.

Mindful spending isn’t about depriving yourself of all the good things in life. It’s about finding a balance between enjoying yourself now and setting yourself up for success in the future. So, go ahead and splurge on that fancy coffee or that designer handbag, but do it intentionally. Make sure it fits into your budget and aligns with your priorities. And hey, if it doesn’t, maybe you can find a cheaper alternative that still brings you joy.

At the end of the day, mindful spending is all about being intentional with your money. It’s about taking control of your finances instead of letting them control you. So, the next time you’re about to mindlessly swipe your card, take a deep breath and ask yourself: is this really where I want my money to go? And if the answer is yes, go ahead and swipe away. But if the answer is no, take a step back and think about what you could be doing with that money instead. Maybe you could be saving up for a rainy day, investing in your future, or donating to a cause you care about.