We have been trained as a culture to feel guilty when we do things for ourselves. Let’s face it, if we are going into deep levels of debt to pay for, we should feel guilty. But if we can afford it, we deserve a guilt-free way to spend it.
One of the ways to achieving financial independence is to hone your skill at determining wants versus needs. As you travel the journey to financial freedom, you may find yourself selling things you bought in the past, but have found that you don’t really need. We talk here often about developing “adult” money skills. These are things like being able to spend money to save money, and in this case, dealing with “sunk costs.” Selling something at a loss to reverse a bad decision shows you are able to isolate the purchase of it, and analyze the current benefit. Materialism Becoming less materialistic is what I’m driving at, here. But don’t confuse that with an elimination of materialism. If you want to live in a modern society and have friends, you will need to buy and own things. What you should be striving for is another “adult” money goal – spending more money in the short term to buy something that will last longer. For example, if you spend $50 for shoes that last six months, you will have owned four pairs of shitty shoes in a two year period. Compare that to the “money adult” who pulled the trigger … Read more