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We Call it Zen Spending
zen (from the Urban Dictionary)
One way to think of zen is this: a total state of focus that incorporates a total togetherness of body and mind.It also is a state of mind. Zen involves dropping illusion and seeing things without distortion created by your own thoughts.
One way to think of zen is this: a total state of focus that incorporates a total togetherness of body and mind.It also is a state of mind. Zen involves dropping illusion and seeing things without distortion created by your own thoughts.
Most of us spend money without really thinking about it. We’ve done it so much that it’s morethan a habit, practically a reflex. But spending has both long and short-term consequences. With an effective thought process, your spending can be far more meaningful to your life. You’ll probably save a lot of money, too.
Before spending any money, take a moment. Even if it’s just a few cents, take the time to ask yourself if this is a good way to spend your hard-earned money. Why are you purchasing it? Just adding some space between your impulse and your purchase can eliminate a lot of unnecessary spending. This doesn’t only pertain to the typical impulse purchase; it’s also your monthly bills. There are people with cable service that never watch TV or who have the unlimited NBN package when they only email and Skype occasionally. Examine all of your spending and determine if the expenditure is worth it.
What are the short-term costs? For some people, buying a pizza means paying the electric bill late. For others, it’s a sense of guilt. Look ahead over the next month and determine what it will cost you. Perhaps buying that pair of shoes means you can’t take the kids to see a movie next weekend - which will make you happiest in the long run?
What are the long-term costs? The future value of money is hard to believe. There are calculators online that will do the analysis for you; but consider that $100 invested at 10.8% (the average long-term stock market return) is worth over $2,500 in 30 years. Is the $100 item you want today worth giving up $2,500 in the future?
What is the effect on your health? Sweets, alcohol, tobacco, and takeaway meals can be enjoyable, but are they worth the cost to your health? Before making any purchases, consider the risk. And it’s not just food. It’s partaking in potentially dangerous activities. Is it worth it? Only you can decide.
What is the effect on the environment? Some products simply do not support the environment. Consider supporting companies that produce products and services with the environment in mind. Many times, a greener alternative is available. Shop around for prices that fit within your budget and that will ease your conscience.
What is the effect on your peace of mind? Owning too much stuff creates clutter that can really weigh you down. An effective rule is to get rid of an item every time you purchase something new. Selling the old item will help to offset the cost. Having to get rid of the old item is also good test to see if the new item is really worth it.
Having a guilty conscience is another thing to consider. If it feels wrong, it likely is wrong for your situation.
Do you need it? Do you love it? Before purchasing something, ask yourself if you need it. If you don’t need it, ask yourself if you love it. If the answer to both of these questions is “no,” why would you purchase it?
Most of us don’t have unlimited resources. Limit your purchases to things you need or love. It’s worth the time or extra money to find and buy something you love and will enjoy long term
Finances are an important part of life. It’s much easier to enjoy life if you have the resources to pay your bills and enjoy your favourite activities.
And this is much easier to accomplish if you’ll think about your spending in a new way – we call it zen spending.
Before spending any money, take a moment. Even if it’s just a few cents, take the time to ask yourself if this is a good way to spend your hard-earned money. Why are you purchasing it? Just adding some space between your impulse and your purchase can eliminate a lot of unnecessary spending. This doesn’t only pertain to the typical impulse purchase; it’s also your monthly bills. There are people with cable service that never watch TV or who have the unlimited NBN package when they only email and Skype occasionally. Examine all of your spending and determine if the expenditure is worth it.
What are the short-term costs? For some people, buying a pizza means paying the electric bill late. For others, it’s a sense of guilt. Look ahead over the next month and determine what it will cost you. Perhaps buying that pair of shoes means you can’t take the kids to see a movie next weekend - which will make you happiest in the long run?
What are the long-term costs? The future value of money is hard to believe. There are calculators online that will do the analysis for you; but consider that $100 invested at 10.8% (the average long-term stock market return) is worth over $2,500 in 30 years. Is the $100 item you want today worth giving up $2,500 in the future?
What is the effect on your health? Sweets, alcohol, tobacco, and takeaway meals can be enjoyable, but are they worth the cost to your health? Before making any purchases, consider the risk. And it’s not just food. It’s partaking in potentially dangerous activities. Is it worth it? Only you can decide.
What is the effect on the environment? Some products simply do not support the environment. Consider supporting companies that produce products and services with the environment in mind. Many times, a greener alternative is available. Shop around for prices that fit within your budget and that will ease your conscience.
What is the effect on your peace of mind? Owning too much stuff creates clutter that can really weigh you down. An effective rule is to get rid of an item every time you purchase something new. Selling the old item will help to offset the cost. Having to get rid of the old item is also good test to see if the new item is really worth it.
Having a guilty conscience is another thing to consider. If it feels wrong, it likely is wrong for your situation.
Do you need it? Do you love it? Before purchasing something, ask yourself if you need it. If you don’t need it, ask yourself if you love it. If the answer to both of these questions is “no,” why would you purchase it?
Most of us don’t have unlimited resources. Limit your purchases to things you need or love. It’s worth the time or extra money to find and buy something you love and will enjoy long term
Finances are an important part of life. It’s much easier to enjoy life if you have the resources to pay your bills and enjoy your favourite activities.
And this is much easier to accomplish if you’ll think about your spending in a new way – we call it zen spending.