Finding Balance Between Spending vs Investing on Yourself

This topic has been one I’ve wanted to write about for quite some time now and something I’ve really valued more and more recently. In the world of personal finances, so many times the topics of discussion are don’t spend money, cut these things to save, how to be a better saver, money saving challenges, and so on. These are all highly important topics but there is also the reality that we all spend money and we all need to treat ourselves from time to time, like a weekly coffee shop visit.

Today for Money Monday, we’re taking a look at the difference between and finding balance between spending vs investing on yourself. Both are forms of spending money but one has a bit more depth and meaning to it. Have you ever stopped to think if any of your habits are just spending or investing?

So let’s get to it and take a look at finding that balance between spending money vs investing on yourself, even while spending!

First, it’s important to understand the difference between spending money on yourself and investing. Now I’m not talking about investing in the sense of buying stock, mutual funds, etc. I’m talking about spending your money in an investment state of mind. Spending in an investment state of mind means spending with a purpose or higher value and expectation. There is an outcome produced from this spending related to a goal, vision or mission.

Spending vs spending with an investment state of mind is going to differ for everyone. We all have our own goals, we all have things we value more than others, and therefore or financial mindset is going to be a bit different. For me, my weekly visit to Aviano on Sundays is an investment. It’s an investment in my mental health. It’s a 3-5 hour time frame where I can focus on me, enjoy my favorite coffee, and get through whatever personal or blog-related to-do list items I have. Yes, it is spending money and treating myself but to me, it’s an investment in myself. To you or someone else, they may see this as a silly expense. But that’s okay! Again, we all have different financial mindsets and that is okay!

My twice a month life coaching/therapy sessions are also a way that I spend with an investment state of mind. This truly is an investment in myself, my well-being, my mental health and so much more. I’ve grown in more ways than I can count since beginning therapy and it’s something that I know I need in my life right now. The dollar value is almost irrelevant in a sense, because it’s a true self-investment and I’ve already seen such great outcomes and growth.

Recently with securing my new job in Denver, I knew I needed to invest in some professional workwear. I have a few basics that I’ve accumulated over the years like a couple of blazers, blouses and dress pants. My previous position was very laid back and casual so my professional wardrobe hasn’t seen much love in years. My personal style has also evolved since I wore most of the professional items I had, too, and with starting this new career and chapter, it was so important for me to feel comfortable. With that, I invested in some new business professional attire. I was very selective in the items I purchased and made sure they were 110% items I love. I also made sure that I could wear these pieces outside of work, be it on the weekends or to a wedding or bridal shower. Having a versatile wardrobe like that is well worth the investment IMO.

Taking a look at the spending side, I’ve really focused on cutting down on my spending. For example, a convenience item like Spotify Premium I opted to get rid of a few years ago. Yes, it’s only $9.99 a month but to me, that $120 a year to not have ads wasn’t worth the investment.

The biggest takeaway from this post is to really tune into your spending habits and take it a step further to find the meaning and purpose behind your purchases. Are they impulse or convenience purchases, or are they investments in yourself and your well-being? I challenge you to take a deeper dive into your monthly budget and see if you can categorize all of your spending habits. I think you’ll be amazed at what you find…and potentially can save, too!