Value & How You Spend Your Money
Seemingly everything comes with a price tag, but we want to challenge the prices you see on the tags and ask you…
What’s it worth?
What is it worth to you and your life, really? Beyond the price tag something carries, there is the value which it brings to your life. We at Life By Design Investment Advisory Services believe that this value determines the true worth of what you’re spending your money on. Why not invest in your real life desires?
Here’s an example… If a wedding is something you’ve always dreamt of and you wouldn’t be happier spending the money on a new car or vacation, this can be a good indicator of value. However, if you look at a wedding and think, “If I could spend all this money on my passion for golf or a dream honeymoon instead of a wedding… I’d do it in a second.”… Then you probably need to rethink that huge wedding you’re planning and spending on!
Align the dollars you spend with the true north of what brings you joy. Think of it as investing in what matters most- yourself and family. If living on a boat is a life long dream, then what are you waiting for? Are you taking steps to make that dream a reality? Are you spending in a way that supports you and your dream?
Just because certain big tickets items come with a “set” price tag doesn’t mean that number is final. Consider setting your own price tags prior to shopping what’s out there. You’ll have a more satisfying experience and be less susceptible to buyer’s remorse. If cars are your passion, then that’s where you should place more value. But if you really are more of the type who dreams of yoga retreats on a relatively frequent basis… Why place the value on a car?
Are pressures of the world suggesting you buy the ‘organised sports’ minivan versus that Jeep you envision having and taking the kids to explore Zion National Park? Don’t let the desires of others keep you from your own! It’s time we started asking ourselves “What’s it worth to me?” instead of happily accepting the value and importance society has placed on something at face value.
Life By Design Investment Advisory Services is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.
