When I speak about leaving a legacy, the topic of money always comes to the surface. Unfortunately, it is not one of my favorite subjects to talk about, at least when it comes to reeling in spending or gaining more clarity around it.
Anyone who knows me knows that I love to shop. Especially online shopping. How great is it to dream up nearly anything, find it online, and in an instant have it ready to ship to my door?
I love the hunt.
Researching.
For me, it sure beats walking up and down the aisles at a storefront, giving up, and having to locate an employee to help you on your personal scavenger hunt.
That method is exhausting. Letting your fingers do the walking is exhilarating.
But do I REALLY need the thing?
Is it a need or a want?
Ugh.
Golly, I’m 65 years old now. Shouldn’t I have figured all of those things out?
Well, frankly, no.
One day at a time.
As I am aging, I do look at money from a different perspective.
It is much easier to do the math: The amount in the bank versus my projected number of years on Earth, etc. And on top of that, having some money left over for my family to continue to invest.
Obviously, it is yet to be determined when our last day for spending will be, but what I do know is that currently, there is no regular paycheck coming in. I know there is less time in front of me than behind me, and there is only so much money and time left before it runs out.
Clarity is the answer.
What do I spend money on now?
What can I cut back on now to save money for the future?
I’ve made the following list of some of the reasons why I buy something in the first place. Maybe some of these reasons will resonate with you also:
- I’ve run out of an item and need it
- I can use this to make some tasks easier (cleaner, scraper, brush etc.)
- It is preventative (garbage disposal tablets)
- There is a birthday, holiday, or special occasion coming up
- Pretty much, any old reason for my granddaughters… it might help them learn, entertain them for more than five minutes.
- It’s on sale
- It’s at a thrift or discounted store, so why not? It’s inexpensive
- I’m on vacation and want to have a souvenir from the area
- It’s super cute, and it fits
- I can’t fit into any of my clothes (all 200+ of them)
- I can’t find something I need, so I must be out of it
- I think (fill in the name) will like this
- It will help my family in some way
- It will help my business
- Looks like an interesting, helpful book
- I will learn something
- It speaks to me
- It brings back a memory
- It looks like fun
- I’m bored with my home decor, wardrobe, life
I’ve started tracking every purchase from Amazon because that seems to be my current worst habit because, again, anything I can think up is found there…and shipped to whomever and wherever I want.
I’m not sure that just looking at the spending amount is really all that helpful, though. It is a bit shocking how quickly all of these items under $20 can add up.
I have noticed that when I even begin to think about cutting back on spending, subconsciously, I start finding courses or books (that might help me make money) or must-have items that I’m going to go ahead and get just this one last time and then tell myself I’ll start cutting back tomorrow. It’s like telling yourself you are going to start your diet on Monday, but it keeps getting put off. After all, I didn’t say which Monday.
So what is the answer?
I am well aware of the following points:
- I need to have more of a future-minded mindset around money
- I am much better at making a budget (they look very colorful!) versus sticking to one
- Spending money on “experiences” (like travel, family trips, Disney, outdoor fun) with my family and granddaughters is much more important than spending money on “stuff” (like toys, stuffed animals, dolls, etc.)
- If something I’m thinking of purchasing is going to create more work, time, and energy, than it gives back in joy, it probably isn’t worth buying.
- There is nothing new that I really need. Yep. I actually said that out loud. If it is to replace something I already have that either isn’t working or has run out, that’s one thing. After all, you’ve got to have paper towels, Qtips, moisturizer, and lipstick, right?
So if you’re still reading this you’re probably thinking, okay, she will give up Amazon shopping altogether or reduce it tremendously. Yeah. No. I don’t see that happening anytime soon. Well, maybe reducing.
I’m still young. I still have half a brain. I still have viable means to make a living. I just don’t want to do it at a storefront. I like flexibility. So, I’ve been checking heavily into writing, copywriting, freelancing, etc. Not just for fun, but this time for actual money. A shift for me. Actual reimbursement. I figure it is another way to get my legacy out there with my words.
I’m still going to buy a scratch-off lottery ticket now and then. Wish me luck.
Action Steps
- I am using Mint.Intuit.com again—a very useful tool for clarity. It is useful for tracking transactions, spending categories, planning for the future, and of course, budgeting. As long as you put all of your banking accounts, credit, and debit cards in there, you have a crystal clear roadmap of where your money is going. (i.e., shopping). If you are looking for more clarity with your finances I’d suggest you start there to determine exactly where your money is going.
- Optional but very much appreciated: Follow me on Facebook @nxt50years or my website at: https://nxt50years.com/ or Instagram:https://www.instagram.com/nxt50years/ or here at Substack https://nxt50years.substack.com/
Still a work in progress (as I am) so please be kind.
Keep smiling & keep reading!
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