Save to spend is a phrase I use around my house a lot.
What I mean by this is having a plan to automate your savings. This is getting the big things right while letting the small things fall by the wayside. One of the key things I learned from I Will Teach You To Be Rich by Ramit Sethi is you are not going to spoil your retirement with $5 lattes.
In other words, saving $5 here or $10, there is no way to live your life and is a miserable way to save for retirement. This was a totally different outlook on money and savings than I was previously taught and believed.
What exactly does this mean for your life? It means that you should have a plan for automating your savings - which is getting the big stuff right - and let everything else fall by the wayside.
I implemented earlier this year a $100 dollar rule. If it makes you happy and it costs less than $100 then buy it. Don't debate it. Don't fret over it. Buy it.
Of course for some $100 might seem like a lot and that is fine everyone has different thresholds. The point is to have that limit - whether that's $100 dollars or $1000 dollars- and spend accordingly.
Having money rules like automated savings plans and spending thresholds will help you live a more balanced life and have a healthier relationship with money.
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