We All Want the Nice Things
We all want the nice things. We want fantasy clothes, we want fantasy cars, we want a fantasy house, and we want an office that simply wows our guests. Unless your Bill Gates or Jeff Bezos, the reality is you will need to prioritize what you spend your money on. Throughout our lives we will be forced to make tough decisions on what we want to spend our money on. Some things we buy to have forever and some things are disposable. Making a decision on what is of value is entirely opinionated and although people will judge you based on your decisions you must remember to focus on what makes you happy and what is in the best interest of your family.
Clothing
Most of us spend more money on clothing then we really have to. We see an outfit that we must have and often we do not care about its price. Impulse buying like this is good for personal morale but doing it too often is a bad decision. It is a fine balance between purchasing to keep us happy and over doing it. That being said, we still do need to buy clothing. Our every day attire will eventually wear out and we cannot go to work looking like a discombobulated mess. However, we do not need to buy designer brands and products every time. Who can tell if our underwear is branded or not. It might matter to some of us but odds are most people do not care. Additionally, we must be wise when purchasing for our children as well. For special life events we should be spending a bit more money to ensure they are dressed properly, but it is stupid to spend too much money on everyday items. Kids grow and you might only get to wear an outfit a couple of times before your child outgrows it. So next time you go to the mall be conscious of your financial situation. Remember to treat yourself and your love ones to nice things just do not go over the top.
Vehicles
Most of us have dream cars. Some of us want fast sports cars, some of us want convertibles, and some of us dream of luxury vehicles. I will never tell someone not to go and buy their dream care but I will tell people to think about the timing. Life is expensive and so is a top of the line vehicle, this fact results in us having to decide what is important to us. There is always a big list of home improvement projects, items needed to support our children, and other things we need to spend our money on. So when it comes time to purchasing a car we often have to make compromises. The good news is you can always upgrade and get your dream car later on in life. Once the kids are grown and the mortgage is paid off you should have extra funds available. So do not panic if you have to buy a cheaper car this time around. Remember a dream car is supposed to be difficult to obtain. So stay optimistic and remember to save a little money whenever you can and one day you will be able to purchase the vehicle of your dreams.
Home Improvement
One way to spend our money wisely is to invest in our homes. Home improvements raise the overall value of your house and are often tax deductible. There are countless ways to improve your home with a wide variety of returns on investments. New windows or new insulation for your walls is a great place to start. These improvements will lower your overall utility costs and often pay for themselves over a long period of time. Additionally, when was the last time you serviced or updated your homes HVAC system. If it has been a while it might be time to gets some quotes on upgrading these essential home appliances. The exterior of your house is also an investment and it is crucial to ensure it is in good shape. So take some time and inspect your siding, your paint, and even your roof. It is easier to fix small problems before they become giant nightmares.
The inside of your house may also be in need of upgrading. How old is your current bathroom or kitchen? It might be time to bite the bullet and invest in your space. Kitchen and bathroom upgrades always increase the value of a home. If you plan to sell your house down the road you will need to put some money in these rooms to ensure you get top dollar. Another major job that can drastically improve the décor of your house is the flooring and paint. Changing carpet, repairing or refinishing hardwood floors, and updating colors can make a bigger impact on your space then you realize. Just watch any HGTV television show and you will almost certainly here them talk about flooring and paint. The experts now what they are doing and they are almost always upgrading these aspects of a house prior to trying to sell it.
What to upgrade in a home is entirely dependent on the house, the design, the neighborhood, and what it is worth. So make sure to do your research prior to investing too much money. You never want to be the most expensive house on the street but you also do not want to be the owner of a poorly maintained property. Homes are where we live but they are also investments and we must remember to treat them as such. So when it comes time to budget your money remember that you will get a return on your investment in a home. This cannot be said for vehicles and clothing. In conclusion, remember it is okay to spend some money on disposable items. It is okay to purchase things you want occasionally. Just remember, it is not okay to live a life style you cannot afford and it is important to be responsible with your money. So if you budget accordingly, pay for your fiscal responsibilities, and take care of your family it is okay to live it up from time to time.