As a new year begins, it’s a time to reflect on the past and set goals for the future. While I typically focus on various aspects like health and career when making resolutions, being a personal finance writer, money-related goals naturally take precedence on my list.
While last year was all about saving for a home and successfully accomplishing that goal, this year brings a different perspective. Surprisingly, my resolution for 2024 is to increase my spending. Yes, it might sound unconventional, but let’s explore the reasoning behind this decision.
Embracing More Spending
While saving diligently is commonly advised, I believe in finding a balance between saving and enjoying life. Saving is essential, but not at the expense of missing out on things that bring happiness. Reflecting on the previous year, I realized that excessively focusing on saving led me to deprive myself of experiences and small joys that added value to my life.
Looking back at 2023, I recognized a lack of diversity in my life due to my excessive saving habits. I missed out on social gatherings, fun events, and enriching experiences because of my strict financial approach. Therefore, in 2024, my goal is to shift towards a more balanced financial strategy.
Approaching Spending Mindfully
Despite maintaining ambitious savings targets, I am committed to not compromising on things that contribute to my happiness. Mindful spending involves responsibly allocating funds to experiences that hold significance while cutting back on unnecessary expenses. It’s about finding a personal financial equilibrium that aligns with my values and priorities.
After reviewing my expenses from the past year, I realized that reducing daily indulgences like treats and coffee was beneficial. However, I regret not investing in experiences like trips with friends. Going forward, I aim to identify areas where I can spend more wisely to enhance my overall well-being.
Prioritizing Increased Spending
Social Experiences with Friends
Building memories with friends holds immense value for me. This year, I intend to prioritize social gatherings and outings, both locally and abroad, to nurture my relationships and connections.
Quality Clothing Investments
Overlooking the significance of investing in quality clothing that aligns with my style and boosts my confidence was a mistake last year. In 2024, I plan to curate a wardrobe that mirrors my personality without overspending.
Travel Adventures
Exploring new destinations and taking breaks to recharge are essential for my well-being. I’m allocating funds for travel experiences that enrich my life and offer a respite from my daily routine.
Hobbies and Personal Growth
Nurturing hobbies is crucial for personal development. While savings are important, I’m determined to invest in hobbies that bring me joy and fulfillment, even if they incur some costs. Balancing financial objectives with personal enrichment is key to a wholesome life.
