Recently I’ve had conversations with a few different people about money that led me into really thinking about my “relationship” with it.
I evaluate money in three ways. Now, I have no idea if they’re right or wrong, but it influences my good (or bad) decision making in how I spend, save, and think about money.
I’m going to walk through my thinking process as I debate whether or not to buy a purse*:
The Financial. This is a straightforward perspective. Can I afford to buy this? Will I have enough money leftover to meet our family savings goals?
The Emotional. This is where I have to examine my feelings. Do I want this purse because it’s pretty and therefore will make me feel prettier? “Improve” my social status by wearing it around town?
The Mental. Is this the best bargain I can get from it? Is this a want or a need?
Sometimes my emotional and mental lines are blurred. There are times when I have to ask myself if I have spent emotional and mental energy to the point that it’s costing me more than the financial. So, maybe I want this purse, but it’s this back and forth of trying to decide to the point where I have invested more than I have actually put into it.
I have been trying to be better about making quicker decisions, especially when it comes to spending, but then there are times when I realize I am completely crazy because I can overthink a purchase.
How about you? How do you balance your wants and needs? I think I’ll have to revisit this topic again in the future.
*I should add that I did not purchase the purse. My sister bought it for herself and I struggled with feeling like I needed to “keep up” before I came to the right conclusion for myself! 🙂