Never Spend Money on Things That Don't Add Value to Your Life

Lately, I have had the unfortunate and difficult task of going through my mom's condo. She passed away a few months ago, and initially it was just too difficult to deal with. Now that more time has passed, I am slowly working my way through all of the items she had kept and treasured. Trying to determine what to keep, what to give to those that loved her and what to give away to good will, recycling and trash.

What has really impacted me is what she kept were things that maybe were not worth much to others but were treasures to her. They were letters, journals, pictures, music (LPs and CDs), trinkets and mementos. It got me thinking about how much we all spend yearly on things that are so unimportant.  At the end of the day you can't take it with you.

I was spending a day shopping with some girlfriends a while back and one of us was trying to decide if we should purchase a pair of obnoxiously-expensive shoes. The question that was raised was, "Do you absolutely love them?" Which is a really good question to ask before you buy anything that is not essential. In fact, anything that you buy should fall into one of these categories"

1. I need to have this (such as soap, maxipads, food etc.)
2. I want to have this, I can afford it and I absolutely love it.

What was most impactful about going through my mom's things was realizing that what Mom valued the most could not even be bought in stores. I think when shopping we should be more mindful and only buy things that will truly add value to our life or the lives of those we love and care about. If the only justification is that it's a really great deal then it doesn't qualify. I always find that the Costco outing can be a frenzy of, "I don't really need this, or really love it but it's only $19.99," until you have a cart full of it's only $19.99 items and a bill of $500.

Another benefit to this practice is that you will have less stress about money and not be spending more of your time working just to buy items you don't really need.

I know the idea of value is subjective but just be honest with yourself.  Make sure your investment adds to your personal growth, or character, truly makes you happy or helps you to reach your potential. To invest in ourselves is to enrich our lives.

Ask yourself the next time you purchase something: "What value will this add to my life?" A worthwhile investment feeds the soul and contributes to the support of your body, mind and spirit. Say yes to what you truly value and say no to any more buyer's remorse.

What are some items you've bought and regretted?

For more by Carolyn Anderson, click here.

For more on mindfulness, click here.

 

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Comments

[yinkadlb8]

10:13 AM on 04/18/2012

Quite an interesting article, as it is apt for these times when most of us whether affluent or not decide to purchase 'toys' that are not really needed either phones, cars etc just because a close friend has it or influenced by advertisement to believe that 'those things' have been upgraded by recent technology and therefore better to use. Though I have nothing against technology as it improves the way we do things over the years, I do however disagree that everybody should be influenced through adverts or friends to part with finance that many of us do not have enough of. Most of us should also learn to keep our tastes in check to keep from running into debt for purchase of items that we may not use for long before another version hits the market.

[livingbettertherapy]

11:48 AM on 04/16/2012

A lot of people are unknowingly making someone else's investments tremendously profitable by ignoring their own investments. Every dollar or minute that we have is an asset that we can use for investment in our own dreams. ROI or return on investment is how corporations measure what percentage they get back for each dollar invested. We can use ROI in our own personal lives to measure if we are investing our own time and money wisely. If you find yourself spending all your time working long hours or second jobs to pay for impulse items that you bought on credit, someone else is getting the return on your investments. If that's you, stop spending on impulsive things you don't need that make you feel better for a short time. Create a vivid dream of where you want to be years from now, with the steps you need to take to get there and what you want to accomplish. Live without regrets and buyer's remorse. Start investing your time and money in your own dreams for the best return on investment.

[Carolyn Anderson]

07:55 AM on 04/17/2012

Great advice! Thanks for reading.

[bthechangeyouseek]

09:29 AM on 04/14/2012

Thank you for the article.

[Carolyn Anderson]

06:54 AM on 04/16/2012

Thanks for reading, have a great day!

[EAsears]

03:05 PM on 04/13/2012

Good article.... I always say, if you want to see what a person values ...see where they spend their time and money. Often people's words talk about how important something is to them and yet if they never spend any time or money on it their words and behaviors do not match up!

[Carolyn Anderson]

06:58 AM on 04/16/2012

That is so true. People often wonder how others can afford certain things but often times it's a matter of priority. On my website, I have a values worksheet that has people compare their top values to their daily activities. They often find they aren't living true to their values and need to make changes. http://carolynandersonmd.com/blog/energy-management-embracing-your-values

[KarmaPatrol]

09:23 AM on 04/13/2012

Good point but also think about the maintenance, cleaning, and storage space needed by a new purchase. I bought a component stereo in college since all my audiophile friends had one; couldn't play it in an urban setting, so it's gathering dust while my iMac plays my digitized collection. A couple of moves and a coffee table crash, it's electronic components. Same with an old "eMachine" computer. Neat concept but quickly ellipsed by new technology. I tried finding the perfect day planner but a simple notebook with my top 5 "to-do's" works (the others have been recycled). My calendar is digital but still need a physical to do list.

[Carolyn Anderson]

01:14 PM on 04/13/2012

Great point! More stuff often equals more work. I like having a physical to-do list as well. There is something so satisfying about crossing things off your to-do list.