How to Be a Wealthy Spender
When most people think about “improving their financial situation,” the first thought typically goes to either scrimping and saving through deprivation or bringing in more through working harder or more.
The focus is sacrifice - what we can’t have or what we need to sacrifice (time / energy) to have what we want.
No wonder this money stuff just feels heavy and uuuurrrgggg for so many people!
Just like most of us aren’t taught about assets and creating real wealth, most of us never get taught how to be wealthy spenders.
The greatest get-rich-quick scheme is not about how you bring more in, it’s focusing on getting more from the outflow.
The outflow (our expenses) is where the quality of our life is determined.
It is at the outflow that we choose what to consume, what to spend our money on, and what we are going to get in exchange for the money in our life.
Our outflow decisions determine whether we end up with a pile of stuff we don't need and empty experiences that don’t fill us with joy or whether we get real value from the stuff we buy and have our money directed to things that make us feel alive.
This is the pivotal point where our choices determine whether we are creating a wealthy, abundant and financially free life or whether we're creating one of sacrifice, stress and survival, just getting by and constantly being in a never-enough-money cycle.
Learning how to be more conscious about our outflow choices and how to be a wealthy spender so we create the lives we really want with our outflow choices is what this video is all about.
If we approach our financial wellbeing from deprivation and what we can't have, one, it's no fun, and two, we're going to focus on the wrong things and make wrong choices and decisions.
Think about it - how could you know how to be a wealthy spender?
We're not taught how to spend.
We're taught how to earn, we're taught how to deprive or reward ourselves, but we're not taught how to be a wealthy spender and be conscious about the life our spending choices are creating.
“Are you a cheap spender or a wealthy spender?”
Many people think being financially smart is about being a cheap spender. They go out and try to find all the deals and coupons. They buy stuff on sales and end up with five crappy-quality t-shirts instead of the one great quality shirt they really want.
A cheap spender is often about trying to get more for less - regardless of whether the more brings any joy or value.
That's very different from being a conscious spender.
A wealthy spender focuses on getting more of the stuff that really juices you and makes your life feel amazing.
A cheap spender is about quantity.
A wealthy spender is about quality, with great clarity on what is quality for YOU.
A wealthy spender knows what they really want.
Ask yourself:
- What do I really want?
- What do I LOVE spending money on that I get huge value from?
- What energises me and lights me up?
- What brings me joy?
A wealthy spender then focuses on spending money on those things and ruthlessly cuts out as much of the not-wealthy stuff from their lives.
Cheap and unconscious spending is also often triggered spending.
Here are just some trigger types
👊 FOMO trigger - I’ve seen something that last week you didn't even know existed and now I HAVE to have it.
👊 DESERVE trigger - I’ve worked hard so I deserve it.
👊 FEEL BETTER trigger - I feel crappy so I’ll avoid the feeling by numbing it through spending money on a pile of crap.
👊SCARCITY trigger - I must buy this 3 for 2 special because I'll get more… regardless of whether I actually need or want all that stuff
You could be a high-emotion or a low-emotion unconscious trigger spender, the point is unconscious trigger spending very rarely brings us real sustainable joy and wealth. It appeases some emotional unrest for a few months and then it is gone - with the money we’ve wasted on it.
To be a wealthy spender, we need to get clear on our emotional spending triggers and find more empowering ways to be with these emotions.
We also have to be clear on the difference between a need versus a want.
There's nothing wrong with wants, we all have wants, and it's important that we give ourselves those wants, but if we pretend wants are needs, we lie to ourselves, and then we find ourselves once again in the disempowered reaction loop.
The most important part of being a conscious spender is being extremely honest.
“Hell yes this is a want - now how do I find a way to have the things I want and have great financial health?
This is the way a wealthy spender thinks.
Being a wealthy spender is knowing how to make spending decisions.
Spending that is good for us, good for our family, good for our community, good for the earth and the environment, and great for our financial well-being.
Being a wealthy spender is being clear on what value is being exchanged in the outflow.
When you know you really want something and you're clear on the value it will bring into your life then bring it into your life with enthusiasm.
A wealthy spender is also a savvy spender.
Just because you are clear a specific spend choice will bring you joy doesn’t mean you should spend more than you need to on it.
Take a little time to price around, go online, see if you can get it previously loved, lightly used. It's amazing what you can get on Facebook Marketplace.
You do not have to buy something new to make it feel wealthy.
Get over any hangup or belief that new is better or buying new means you’re wealthy, or if you buy second-hand or previously loved somehow means you're a cheapskate or it’s not good.
Rather, enjoy the fact that you can get the things that really bring you joy, at a discount.
Make it a goal to become a wealthy spender so you can get on an experience your wealthy life sooner and get to your financial freedom faster.
Big Wealthy Spender love
Ann
P.S. Speaking of Wealthy Spending…
Join me on a 30 Day Wealthy Spender Transformation Journey To become a Wealthy Spender too.
We kick off the adventure with a live “How To Be A Wealthy Spender” masterclass where I walk you through all the aspects of being a Wealthy Spender and then dive into the 30 day Squeeze The Juice Challenge.
The Squeeze Challenge is an amazing 30-day structured process for you to implement your new Wealthy Spender way into your life. Each day through micro tasks and a review of the various categories of outflows and spend choices - you will implement ways for you to amplify and automate the things that make you wealthy and radically slash and eliminate the things that make you poor.
By the end of the 30 days you will have transformed your outflows to be far more in service of you and your wealthy life now plus ensure you get to your freedom even faster.
