This week, we're delving deeper into how we can bring intention into our everyday lives and how we approach saving. Let's start by defining our core values. What’s most important to you? Make a (short) list of values that are most important to you. Here’s a list of values from Brene Brown to help you get started. Try to narrow down your list to 2-3 core values.
Once you have your list of 2-3 core values, you can apply your values to how you save, spend, invest, give, plan, and feel in regards to money. We’ll think about saving and spending first. How do your values align with your savings goals and what you spend money on? For saving, is there anything in particular you want to save for in order to better exemplify your values? For example, if you value “adventure” maybe you want to save up for a big trip or maybe you value "learning" and want to save up to go back to school and get that next degree. We can all agree that saving is important, but by bringing intention into your saving it will be even more meaningful for you. It’s also much easier and more tangible to save for something specific.
We'll approach spending with a similar mindset. You can ask yourself, does what you're spending money on align with your core values? Are you being a conscious consumer? If you feel aligned, awesome keep up the good work! If the answer is no, it might be time to rethink your spending habits. I recently read this quote that resonated with me - "The first rule of intentional spending is that you shouldn’t spend money on goods, services, or experiences. You should exchange money for value. " In this case, value can be quantified as monetary value, practical value, or psychological value. While monetary value might be out of your control, only you can decide how much practical and psychological value something holds for you.
How do you bring intention into your saving and spending? Let us know, we'd love to hear from you!