Thinking Of, Wanting To, and Actually Spending Money

by Vinaya HS on September 12, 2012

in Finance

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I’m a big fan of the I Will Teach You To Be Rich blog. I’ve been following that blog since a couple of years mainly because the approach to money preached over there is very similar to my own thoughts and beliefs towards money. My policy on money is quite simple — “Don’t feel guilty (if there is such a thing) about wanting to earn more money and don’t feel guilty about wanting to spend more money especially on things that define you and that you value.” That to me is a rich life.

In the specific post that I linked to above, the author poses three simple questions for you to answer –

  1. Where do I think I’m spending my money?
  2. Where do I want to spend my money?
  3. Where am I actually spending my money?

My own answers to these are –

  1. On traveling — in style.
  2. On traveling — in style.
  3. On traveling — in style.

There. Perfect harmony. I don’t mind spending a mini-fortune (as measured by my earnings) in lieu of a wonderful travel experience. Goes without my saying that the mini-fortunes are first saved before they are spent. And if I’d saved all of the money that I’ve this far spent on and during travel, I’d have easily hit my ere-goal long back. I’m also quite lucky in that D has pretty much the same policy on money — else we’d be haggling on every little thing in this world.

But I wish I could answer the same three questions albeit with respect to “time”.

  1. Where do I think I’m spending my time?
  2. Where do I want to spend my time?
  3. Where am I actually spending my time?

My answers to these are in perfect discord.

How about you? What’s your money policy?




Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

{ 4 comments… read them below or add one }

Anonymous September 20, 2012 at 7:53 PM

Hi Vinaya,
NO blogs for more than a week????
busy na???..
Keep the blogs flowing….
Girish

Vinaya H S September 20, 2012 at 11:38 PM

Traveling on work!

In New York at the moment. Will be back home over the weekend.

Girish September 21, 2012 at 7:29 PM

Hi Vinaya,
Oh…OK…
I Will Teach You To Be Rich blog is also a superb blog like yours…
Useful and informative…
Keep the blogs flowing….
Girish

Lajja September 23, 2012 at 12:41 AM

Hi! Long time no see.. Travelling, Travelling, Travelling… (and some shoes… ok lots of shoes) that’s where I’d spend all my money!! You know where I can get good shoes in Bangalore? Do tell me (or ask D & tell me).

He he he…

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