I want you to know that yesterday, my coffee money made me $20.
Obviously, I will explain. Lucky you.
Unpopular opinion: In general and at large, we are told that we want too many things. Marketing works, stores are laid out to maximize impulse purchases, and we have been groomed from a really young age that things will bring us joy.
I want to tell you a secret, 99% of it is a lie. There are odd purchases that truly bring me true and unadulterated joy- but for the most part, the things that I used to waste my money on were bringing me instant gratification, but not instant joy.
At the beginning of 2020, I started to put $5 into an investment account every time I even thought I wanted Starbucks coffee and didn’t indulge my coffee whim.
I did this for a year and it was 301 trips to Starbucks that I avoided and funded into my investment account. I didn’t mix this money with any other investment account because I wanted to see how it would grow over time.
I don’t know what to say besides to tell you that I really like nitro cold brew, but I have learned that I like watching my money grow more.
The Ask: I want you to do a thing with me. I want you to sit down and think think think about things you will need over the course of the next 7 days. If you plan to need groceries, if you plan on a date night, if you plan to buy bras, write that down under planned purchases. Every unplanned desire or want goes on the list by day. If you’re feeling extra spicy, write down the price. Obviously, don’t buy anything unplanned. It’s only 7 days. YCDI.
It’s only 7 days, and i’m not suggesting that you shouldn’t take care of your actual needs- but you can typically plan for those*.
*Of course, exceptions like an unplanned trip to the ER to get your kids head stitched up is not the point here. It’s everything else.
Why this is important: Managing your own finances is a form of self care that is often overlooked, and this exercise will show you how quickly money can be spent, or saved :).
If you’re in: Tell me in the comments! Next week, we’ll be using this sheet for a new money challenge.