Last month, I had the most expensive shopping trip ever at Costco – I managed to spend close to $800 on random stuff for the house. But you know what, I’m actually very happy with my spending. I’m a believer in the no budget philosophy, and I’m okay with spending when it’s worth it.
In fact, I’ve decided that instead of focusing so much on being cautious with my spending, I’m just going to focus on earning more to be able to spend whatever I want. I’m never going to spend money I don’t have. I’m also only going to buy things which will enhance my life – and hopefully allow me more time to earn more.
Have you gone on a spending spree? Be frugal and pinch pennies, or be entrepreneurial and earn more?
About Robert
I’m confused why the spend less/earn more discussion seems always to be an either/or decision. Why not do both!
Very true – but it will always be a balance.
Very true – but it will always be a balance.
Sometimes going on a big spending spree for something like stuff around the house is totally necessary. People shouldn’t feel guilty about all of their spending. The key is that you don’t let that spending take over your life to the point that you’re not putting enough money into investments. I’m sure you won’t have that problem Robert.
I don’t think you “should” feel guilty, but if you asked me a year or two ago, I couldn’t have done it because I would have. I think it is a mindset – which I’m going to write a little more about in the future.
Since I don’t currently make much money I have to be frugal with my spending. When my income goes up I will up my spending at least a little.
Do you find your income/spending to go up and down? You always seem to post such low monthly spending reports.
I go on spending sprees for cleaning supplies at Costco. The idea of earning more is also very appealing.
The idea of earning more is always appealing!
I’m going both directions. I keep my spending down and am trying to increase my income through blogging! We’ll see what happens
That is the best equation!
Who would say no to spending? I bet, nobody. But there is one thing that we should always bear in mind, that is, spend only what you can. I agree with you. If you want more money so you can shop more, you need to earn more. But at this point of my life, I would rather save more and spend less. Though I have a separate account for emergency, savings, vacation, and shopping, the shopping account is the least of my priorities. If I have “extra money”, say some loose change or a client requests for a “quick article that needs to be finished today”, the money goes for shopping. All else, goes to other part of the budget.
I’m not so focused on strictly following a budget, but I agree that you shouldn’t spend more than you have.
As long as you aren’t spending more than you have I don’t see a problem with spending. For me, big spending comes in spurts.
Every now and then I have big spending spurts, but never like I just did. And I agree that you shouldn’t spend more than you have!