I’ve noticed a trend with my blog and the comments I leave on other blogs… My typical response to financial questions and topics is: “It’s all about balance and maintaining that balance”.
But, after continually preaching the “Balance, it’s all about being balanced” mantra… I started to wonder how I have done with that viewpoint?
Unfortunately, I’ve concluded that I haven’t done a good job of following the mantra! But unlikely most, I’m slightly to the other extreme… I haven’t spent enough money, especially on myself.
For years, I’ve deprived myself of new clothes and other needs and wants, living much like I lived when I was in college (or close to it) and I was much poorer.
You might be thinking, that would mean that my entire family lives the way I live, but they don’t. In fact, there are many times when I suggest that the kids need new shoes, or sports equipment… My wife, though frugal like me, does buy new clothes and goes out to eat with her friends occasionally (at least a few times a month). I’ve been neglecting my friends, too worried about the cost of gas, or of a boy’s night out.
Okay, I identified the problem, but what am I going to do about it? Hmmm, good question! I have a few ideas, but I haven’t decided on the final one yet.
Some of my favorite options are:
- Expansion of Stocks Dividends to Fund my “It’s all about Me! Fun Fund” (lol). I call these my Dividend Funds.
- a Spending Budget, where I’ll create a special spot budget that centers around spending for just me and to a lesser extent the family.
- Go hog wild, trips to Vegas and other exotic locations. leaving the family behind (don’t laugh, I have old friends that do this)
- Possible a hybrid approach of Stock Dividends (Dividend Funds), and a Spending Budget.
- Get a side hustle that could fund my “It’s all about Me! Fun Fund“, or just directly spend all of the side hustle money on me!
Of course, I will spend more money on the family too, but in an indirect way. For instance, I’m trying to work out how we can all go to Hawaii within the next 2 years…
I definitely won’t decrease the amount I spend on my family, to spend more on me. Most likely, I’ll just increase the amount of money I spend on myself my a small amount, perhaps an addtional $100 to $200 a month.
This is a work in process, I’ll follow up with a later post about what I decided to do and how I’m going to go about it.