Investing In Wants
The personal finance space is filled with gurus, influencers, and professionals who demonize spending on wants. "You don't need it!" "Do something more responsible!" "Stop spending!" Everything is looked at through the lens of need (good) and want (bad). Need = spend. Want = don't spend. Need = responsible. Want = waste. I think we need to stop thinking in terms of needs and wants, and start categorizing as valuable and not valuable. I know lots of wants that are valuable to people, and lots of "needs" that don't add much value at all. That expensive car, for example. For most people, that newer car (and its $700 monthly payment) doesn't actually add much value to their life. But spending $75 on a massage or getting their nails done adds a ton of value.
I've openly discussed several of my want spending habits and how much value they add to my life. I have a new one to add to the mix. I often (unfortunately) find myself taking a lot of 5AM flights on Monday mornings. I'll help you with the math….. that's a 3AM wake-up! It's terrible. We'll call it the cost of living in a smaller city with limited direct flights. But wow, those mornings are rough! I get packed the night before, sleep like crap for four hours, wake up exhausted, drive 30 minutes to their airport parking facility, and take a shuttle to the airport. Here's my new want. When I have those excruciatingly early flights, I'll book a room at a hotel across the street from the airport for the night before. Doing so forces me to pack earlier, encourages me to go to bed sooner (limited distractions), removes the 30-minute drive the next morning, and creates a much simpler (and more predictable) travel process. It's the best $65 I'll spend all month. Is it a need? No. Is it valuable? Ab-so-freaking-lutely. It's been a real game-changer for me. My trips start off cleaner, I have more energy, and I can be more productive those first few days.
Invest in wants. Not just any wants, though. Invest in wants that add value to your life. YOUR life. Some of you will read this post and suggest I'm practically setting $65 on fire. After all, I have a perfectly good bed to sleep in for free. It's not what you would do….and that's ok! There's a want in your life that you should absolutely invest in that would be a complete waste of my resources. That's what makes this money stuff so fun. It's deeply personal and unique to each of our own journeys.
As you go about your day, ask yourself what wants in your life would be a worthwhile investment. Not because it's a "need," but because it's a want worth spending on. Then, here's the fun part. Spend the money. Make the investment. Enjoy!