Spending Money Wisely - concept #12

For many of us, spending money is fun. For others, it's a painful activity. Regardless of your level of exhilaration, make certain your spending decisions are wise.

Simply put, the more money you're spending, the more thought you should put into the decision making process.

When you spend money, you're really trading the fruits of your labor for something that is important to you. Money has little or no value unless it can be "translated" into other things.

Making good spending decisions will help retain the value that you put into the money you've earned.

Remember, you can't buy love or happiness, but you can buy:

  • a primary residence
  • recreational property
  • investment property
  • an enterprise
  • a personal vehicle
  • a vehicle for business purposes
  • vacations in exciting new places
  • memberships in associations that are important to you

For me, spending money of late has focused on an estate in the country that is fully paid for, tools and equipment to live a more self-sufficient lifestyle, and greenhouses to provide fresh and healthy produce. I'll be making more spending decisions as I continue to upgrade my home and shop, and create infrastructure for more self-sufficiency.

Regardless of what I spend my money on, it is all prioritized and thought through in terms of paybacks to me and how I want to live my life.

This website is a passion of mine, so I've invested in capable personal computing equipment to support it. I also invested in audio equipment as well. Soon, I'll be investing in video equipment to make it even more information rich and helpful to visitors.

Whether it's for fun, profit, recreation, security, necessity or even something discretionary, focus on wise spending decisions because you worked hard for your money and there is no sense wasting your hard work.

Done with Spending Money, back to The Money Game

There certainly is a broad scope of topics here at Frugal Living Freedom. When you think about it, money permeates so very many activities in our lives, therefore, being frugal encompasses a wide range of interests, from being employed to taking a vacation, and just about everything in between. Enjoy the variety, pick up some new ideas, and start making frugality a part of your signature.

I'm a big proponent of being debt-free, and I mean entirely debt-free - no mortgage payment. It's not essential for financial freedom, but you'll love the feeling once you get there. If you didn't have a rent or mortgage payment, how much more could you do for yourself with your current level of income? I suspect plenty.

If you ever hope to see an abundance of wealth, you need to plug the hole in your boat. The wealthy don't necessarily make lots of money, instead, they know how to hang onto what they make, and make it work for them.