When is Enough, Enough?
Read time: 4 minutes.
Welcome to the Friday FinTips newsletter, where I provide tips to simplify how you manage money.
We don’t always need as much as we think. Sometimes, what we already have is enough.
What I Did
Maybe a better title is, “what I’m still doing”. I’ve struggled with this since I was a child. I see what others have and get jealous. I want those things too. But, usually my wallet won’t let me. It’s motivated me to get a good job, work really hard, and earn more money so I can afford more “things”.
I’m in this constant struggle of “should I keep working toward that next promotion or should I just be happy with where I’m at?” Getting promoted is great from a financial perspective, but it comes at a cost (increased responsibilities, usually less work-life balance, higher fatigue, etc.)
Lifestyle creep is real, and it’s not good.
As I get older (and hopefully wiser), I’m trying to remind myself that I don’t actually NEED a lot of things I think I do. I’ve also learned that a lot of people that have all these “things” usually are in massive amounts of debt. That’s not the life I want.
There are still a lot of things that we want, but don’t have. We’ve cancelled video streaming services to save money, so we’re missing out on some popular shows. We got rid of our music streaming service, so playing songs on demand is out of the question now. Our goal isn’t to have everything we want, but things we need.
So when is enough, enough? I don’t know. But, I think we’re probably a lot closer than we give ourselves credit for.
What You Can Do
Don’t be pressured to buy things just because other people tell say you “have to have it” or because it’s the latest and greatest. I know, I know…sometimes it’s easier said than done.
Give yourself a LOT of credit for what you already have. You may be able to find a lot of enjoyment with things you already own.
Remind yourself: it’s your money, your future, and your choice. Just because someone says you should spend it a certain way, doesn’t mean you need to.
That's it for this week. Have a great weekend!