Want To Get A Bigger Sense Of Joy From The Money You Spend? Spend Based On Your Values.

There is a common saying that money can't buy happiness. This saying is not entirely accurate.

Money, if spent correctly, can help enrich our lives.

How do you spend it correctly to help enrich our lives, you ask? First, you must ask yourself what you value in life.

From asking this question, you will start learning about what brings you joy and fulfillment. You may get a greater emotional return on your spending in these areas.

Example of Spending Money on Personal Values

A personal value of mine is family. I enjoy spending time with my family. When I get paid, I set aside leftover money not allocated to bills in my budget for eating with family.

When we go to a restaurant or pick up food to eat at the house, I have money set aside to spend on this occasion. My brothers and I tend to pick up the bill.

My parents have worked hard to give my brothers and me the life we have, so it is nice to treat them to a restaurant now that my brothers and I are adults.

The money I spend in this setting brings immense joy to my life because it is something I value.

Does this mean I have to spend money every time I am with my family? No. Since this blog post is about spending money, that is the focus.

Finding Your Values

Reflecting and determining your values is something more people should do. These values are your compass in life that can help guide you to the riches of happiness and fulfillment.

To come up with your list of values, search online from a list of them and see which resonates with you the most. You could also buy a deck of cards of different values, which is what I did. I purchased a core values deck from BestSelf. The core values deck helped me determine what are the things that I currently value in life.

I recommend having a list of around 5 - 10 values. This shorter list will help prevent you from having a super long list of values. You want to focus on your core values.

Remember that it is okay that your values change as you enter different seasons of your life.

Audit Your Financial Spending

Once you reflect and determine your list of core values. The next step is to reflect on how you are currently spending your money. Does your current spending reflect what you value?

If so, that is good that what you value and what you are spending your money on align.

If not, you need to determine if you value what you say you value or if you should reprioritize how you spend your available money after bills.

In order to have more available money to spend on things you value, you need to determine what to cut back on that you don't value, or at least not nearly as much.

For me, I don't value having the latest in designer clothes, so clothing is something that I don't spend a lot of money on. I buy high enough quality clothes that I like and use them until they wear out.

The closer your values and what you spend your money on align, the more fulfilled and satisfied you may feel.

If you want to try a more proactive approach to handling your finances instead of reflecting on how you spent it, consider budgeting your money.

Budgets help me be more mindful of how I want to spend the money I receive in each paycheck. You create categories based on what is relevant to you. Some of my category groups are my core values. I use You Need A Budget (YNAB), but there are other options available, both digital and analog—experiment with what works best for you.

Conclusion

Money tends to be harder to earn and easier to spend. If you are not mindful, you may spend most of your money on frivolous things that don't spark much joy.

Taking the time to reflect on what you value in life will help create a guide on spending your money (and time) on the things that bring you the most joy.

References

• Product: The One Thing - Core Values Deck
• Article: How to spend money mindfully