There’s a lot of debate in personal finance circles, and that’s definitely a good thing. We want to make sure that people really do get the picture when it comes to taking responsibility for their own actions. However, who is really in control of your spending? A lot of people think that spending is something that can’t be controlled, but we disagree.
Of course, we do need to clarify a bit here. You’re going to have to spend money in order to live. You need to have a place to live, and you need to make sure that you and your family have something to eat. However, does that mean that you always have to give in to your desire to have material goods? That’s the part that comes under fire.
A lot of people feel that with the rise in advertising, spending is just unavoidable. You have to get the nice things, because how will you know that you’ve made it or not? The truth is that there are other ways to measure success than just the amount of money in your bank account that you can use to buy things that you don’t really need. At the end of the day, you are truly in control of your spending. No one is forcing you to lust for designer clothing. In fact, there are many people that don’t lust for these things at all. They feel no need or desire to go and get luxury items — they would rather have good food, good family, and time to rest. If you are happy at what you are doing in life, then you really don’t need to spend money in order to have a good life.
There are a lot of people that want to spend money that don’t really have the money to spend. Discretionary income is what we use to have fun with; well, that’s what we should be doing. Instead, a lot of people make the dangerous mistake of playing with their rent money, hoping that they’ll be able to replace it before it’s time to pay the rent. That’s a dangerous game that has led to numerous eviction notices over the years. Why would you want to play that game with your family’s welfare?
The other thing that you will want to keep in mind is that when it really comes time to make the big decisions on spending, you don’t want to make them in a vacuum. You don’t want to just assume that you have full authority. Now, in many families there is one person that makes the bulk of the financial decisions. However, you don’t want to just do that all of the time. It will make your family feel like their opinions don’t count and that leads to a lot of hurt feelings. The reality of the matter is that since you are in control of your spending, you have all of the power in the world to create a great life. Continue reading “Who is Really In Control of Your Spending?”