Financial Planning & Coaching

“You saved $43.26!” We’ve all heard a cashier say things like this when we’re handed a receipt for what we just purchased in a store. It’s a great feeling to know you bought something at a discounted price, but when we spend money we technically aren’t “saving” anything! If I truly saved $43.26 I would be able to show it to you in my savings account.

Our culture has us programmed through marketing to think we’re “saving” by spending when in reality spending is the exact opposite of saving! Everywhere we go someone wants our money! Recently someone expressed to me that she’s super poor and needs to save her money. She had a week and a half to wait till her next paycheck. Friends invited her to the mall and she joined them. WHAT?!?! Financial temptation is everywhere at the mall! If you’re in a place where you need to freeze your spending, suggesting that friends meet up at a place like a park is a much better idea. After all, the point of being with friends is being in good company and visiting together. We do not have to spend money to enjoy each other’s company! Sometimes I find it helpful to even think of situations like these like they’re a battlefield! I just need to get in the store and get out with only the things I need, so I can stick to my financial plan! I don’t need to put myself in situations where I’ll be super tempted to spend my money. Going to the mall with friends who are shopping can cause me to feel left out if I don’t buy something too. I’ll do another blogpost soon about free things we can do with our friends and family that are fun but don’t cost anything, or are super low cost.

FACT: I’m not saving anything if I’m spending! I go to the store to spend, but to save, I go to the BANK! Better yet, I can visit my financial advisor and even invest where I’ll eventually make money on what I “save.” There’s lots of creative ideas to win financially. For example, how good would it feel that when a cashier tells us that we “saved” a certain amount, what if we actually turned around and really “saved” that amount? Like, IN OUR SAVINGS ACCOUNT! Imagine how it would build up and even make the statement from the cashier true!

ANOTHER FACT: Nobody “saves” money by spending it. YES, we buy things at a discounted price, but it’s not really saving money. Maybe it’s time to redefine the meaning of the word, “save?”

Want to talk over your finances with someone who has your best interest in mind and isn’t trying to sell you a financial product? Sign up for a session with a finance coach!