How to Be a Wealthy Spender

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When most people think about “improving their financial situation,” the first thought typically goes to either scrimping and saving through deprivation or bringing in more through working harder or more.

The focus is based on sacrifice – what we can’t have or what we need to sacrifice (time / energy) to have what we want. 

No wonder this money stuff just feels heavy and uuuurrrgggg for so many people!

Just like most of us aren’t taught about assets and creating real wealth, most of us never get taught how to be wealthy spenders.

The greatest get-rich-quick scheme, is not about how you bring more in, it’s focusing on getting more from the outflow. 

It is at the outflow that we choose what to consume, what to spend our money on, and what we are going to get in exchange for the money in our life. 

Our outflow decisions determine whether we end up with a pile of stuff we don’t need and empty experiences that don’t fill us with joy or whether we get real value from the stuff we buy and have our money directed to things that make us feel alive.

This is the pivotal point where our choices determine whether we are creating a wealthy abundant and financially free life or whether we’re creating one of sacrifice, stress and survival, just getting by and constantly being in a never-enough-money cycle.

Learning how to be more conscious about our outflow choices and how to be a wealthy spender so we create the lives we really want with our outflow choices is what this video is all about.

If we approach our financial wellbeing from deprivation and what we can’t have, one, it’s no fun, and two, we’re going to focus on the wrong things and make wrong choices and decisions. 

Think about it – how can you learn to be a wealthy spender? 

We’re not taught how to spend. We’re taught how to earn, we’re taught how to deprive or reward ourselves, but we’re not taught how to be a wealthy spender and be conscious about the life our spend choices are creating.

I am a lifetime learner and, in the world of money and finance, I love this stuff. I’m always reading other people’s work. There’s a great chap Ramit Sethi that I highly recommend you check out, if you haven’t already.

He wrote a book, I’ll Teach You To Be Rich.which he has recently updated. 

He asks the question, “Are you a cheap spender or a conscious spender?”

Many people think being financially smart is about being a cheap spender. They go out and try and find all the deals and coupons, they buy stuff on sales and end up with five crappy-quality t-shirts instead of the one great quality one they really want.

That’s very different from being a conscious spender. A conscious or wealth spender first gets super clear on what they really want. 

Ask yourself, 

  • What do I really want? 
  • What do I LOVE spending money on? 
  • What energises me and lights me up? 
  • What brings me joy?

A wealthy spender then focuses on spending their money on those things and ruthlessly cuts out as much of the stuff that doesn’t tick those boxes.

Unconscious spending is also often triggered spending. Here are just some trigger types

FOMO trigger – I’ve seen something that last week you didn’t even know existed and now I HAVE to have it. 

DESERVE trigger – I’ve worked hard so I deserve it.

FEEL BETTER trigger – I feel crappy so I’ll avoid the feeling by numbing it through spending money on a pile of crap. 

You could be a high-emotion or a low-emotion unconscious trigger spender, the point is unconscious trigger spending very rarely brings us real sustainable joy and wealth.

To be a wealthy spender, we need to get clear on our emotional spending triggers and find more empowering ways to be with these emotions and we need to be clear on the difference between a need versus a want .

There’s nothing wrong with wants, we all have wants, and it’s important that we give ourselves those wants, but if we pretend wants are needs, we lie to ourselves, and then we find ourselves once again in the dis-empowered reaction loop. 

The most important part of being a conscious spender is being extremely honest. 

“Hell yes this is a want – now how do I find a way to have the things I want and have great financial health?

This is the way a wealthy spender thinks. 

Being a wealthy spender is knowing how to make spend decisions that are good for us, good for our family, good for our community, good for the earth and the environment and, great for our financial well-being. 

Being a wealthy spender is also being clear on what value in being exchanged in the outflow. 

When you know you really want something and you’re clear on the value it will bring into your life then bring it into your life with enthusiasm. 

Be a savvy spender too. 

Take a little time to price around, go online, see if you can get it previously loved, lightly used. It’s amazing what you can get on Facebook Marketplace. You do not have to buy new. 

Get over any hangup or belief that new is better or buying new means you’re wealthy, or if you buy second-hand or previously loved somehow means you’re a cheapskate or it’s not good. 

Rather, enjoy the fact that you can get the things that really bring you joy, at a discount. 

Make it a goal to become a wealthy spender. 

If you need a bit of support on this and you want a challenge, check out the Squeeze the Juice 30-day Challenge. It’s an amazing 30-day structured process for you to go through a whole lot of different areas of your outflow, get more value in your life and become a wealthy spender. 

In the comments below, I would love to know, 

  • Looking back, have you been a cheap or a conscious spender?
  • What is one thing you LOVE spending money one that really brings you value and joy?
  • What emotional spend triggers have tripped you up in the past that you can now be more conscious about?

 Enjoy this adventure of learning how to be a wealthy spender, and realising this is the greatest get-rich-quick way in the world, getting more for the money that’s already in your life. 

 

 

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