Yesterday I talked about how rather than limiting your spending and keeping yourself from making purchases that you really get joy from and that make your life better, that instead it is better to:
- practice awareness of your finances and to
- clear up the mental and emotional issues that lead to overspending in the first place.
This mental switch will go a long ways to improving your financial situation.
There is another reason it's important to embrace spending. Focusing on limiting your spending will keep you in a mindset of scarcity and lack. People who believe they have everything they need don't have a fear of spending. They know they can purchase whatever they need and their resources wont run out.
The idea behind abundance is that the universe is incredibly vast and all the resources you could possibly need are out there simply waiting for you to reach out and take them. Depriving yourself is sending the message that you are a person who doesn't have enough. If that's what you really believe, that is what the universe will give you.
Flip that thought process around and start to believe that you have incredible blessings and everything you could ever need. Start to focus on expanding yourself and increasing your opportunities for bringing in income.
There is infinitely more potential to increase your income vs limiting your spending. Your expenses can only go down so far. And it's much less fun and rewarding to cut things out of your life.
Now, think about the other side: raising your earnings. If you're currently making $40k/year, at best you can only lower your expenses by $40k (but even that's not realistic). But, you could easily raise your income by $40k, $80k, $200k, etc etc.
Another important part of spending is investing in yourself.
It's nearly impossible to really become financially comfortable without investing. And investing involves spending. Whether it be in your education, the stock market, or your health.
Investing gives you incredible leverage and power to change your destiny. So start getting comfortable with spending. Not frivolously, but as a tool to improve your life and open doors to incredible opportunities. As a lever with which to change your life and the lives of those around you.