First, I have no intentions of going hog-wild with rampant overspending come January 1, 2019. I’m not going to cash in my retirement accounts to buy boxes upon boxes upon boxes of useless “needs” from Amazon so that Jeff Bezos can be even richer than he already is. I am not going to raid my emergency fund to amass the complete set of Beanie Babies™. By nature and nurture, I am already a saver (thanks, Mom and Dad!) Indeed, I was one of the people queried in a journal article on the tightwad-spendthrift scale; my score had me firmly in tightwad country. But I’m working on ramping up my savings and thought I’d post publicly about it, as a way of keeping myself motivated. I started my career later than most (thanks to a delayed entry into college and then a couple of additional degrees beyond the bachelor’s), I’m living away from family, and frankly, independence is one of my core values. That includes financial independence. But while I’m pretty adept at living within (and below) my means, there certainly is room for improvement. Starbucks, for example, would be a perfect place to cut some of my spending!
What Are My Goals Here?
A bigger balance in the bank, for sure. I am responsible for myself. But also to enjoy life’s simple pleasures (i.e. the ones that cost little or nothing—the view of sunsets from the back of my house, a good book, throwing dinner parties where the conversation is scintillating, seeing Mars and Jupiter on a cold, clear January morning.) To reduce consumption. And to give more to organizations with values I share and people I care about.
But I Am Not Giving Up $27/lb Cheese
Je suis une turophile (I am a cheese lover). A serious cheese-a-holic. I love seeking out unusual varieties, typically artisanal and/or farmstead. Indeed, I’ve planned vacations around cheese! Supporting small or local producers is important to me. I’ve had the good fortune to have had conversations with several cheesemakers and it is a difficult life, made even harder by ridiculous agricultural policies that favor the likes of Kraft and Sargento. I feel good about spending this money and I’d rather cut back elsewhere than give up quality food. Better a small amount of something delicious than a vatful of overly processed garbage with added sugar where it doesn’t belong. I’d rather put my food dollars back into the hands of local organic farmers like Wendy Carpenter than in the pockets of ConAgra or Monsanto executives.
Please note that I rarely buy a pound of cheese at once (unless I’ve got a dinner party or luncheon planned or I am planning to give it as a gift).
Mindful Spending and a New Relationship with Money: The Ultimate Goals
These. Are. The. Goals. Mindfulness in general, but mindful spending in particular. I think we all need to remember that money is a tool, not the end but a means. So simply amassing money to have it is as much of a problem as willful, indulgent, irresponsible spending. Saving so that one can support oneself is admirable, but saving just to say “I have a bigger bank balance than you” is silly (and, frankly, points to a sad, insecure existence and/or hoarding). You don’t have money at that point; money has you. The flipside—spending, spending, spending, usually on credit—is equally unbalanced; in this case, you are owned by your stuff. Both are two sides of a greedy coin. Truly, the key is to strike a balance.
It Boils Down to My Values
It comes down to my values. What do I care about? What do I want to use money FOR? Supporting myself so I don’t burden others. Nurturing my relationships with my cherished and strongly loved friends. Contributing to causes important to me. Doing my part to reduce the rampant, soul-strangling consumerism that grips our society. And yes, some $27/lb cheese.