2735: Why You Should Totally Spend on Wants by Chris of Keep Thrifty on Intentional Living & Mindfulness

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Education, Investing, Business, Self-improvement

4.5 • 1.3K Ratings

🗓️ 23 May 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2735: Discover the refreshing perspective Chris of KeepThrifty.com offers on personal finance by redefining the concept of wants. Learn why aligning your spending with your values rather than cutting out wants can actually lead to more meaningful and fulfilled living. This episode unpacks how prioritizing values-based wants can transform your financial habits and enhance your overall quality of life. Read along with the original article(s) here: https://www.keepthrifty.com/spend-on-wants/ Quotes to ponder: "It’s not having what you want. It’s wanting what you’ve got." -Sheryl Crow "Money is a tool. A tool that is meant to be exchanged for things that are of value." "Once we were able to look at our spending at a high level, we quickly saw that we had more than enough to spend on our wants - at least the wants that really added value to our lives." Episode references: The Hope Effect: https://www.hopeeffect.com/ World Vision: https://www.worldvision.org/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is optimal finance daily episode 2735.
0:04.0	Why You Should Totally Spend on Wants
0:07.0	by Chris of Keep Thrifty.com
0:10.0	and I'm your host and personal finance enthusiasts Diana Merriam.
0:14.1	Now let's get right to it as we optimize your life.
0:27.0	Why you should totally spend on wants by Chris of Keep Thrifty.com. If you read enough personal finance articles, you're bound to have come across numerous discussions about needs versus wants.
0:35.1	If you take the messages at face value, you'll come away with a sense that the majority of
0:39.2	your financial issues come from an inability to minimize your wants. This sage advice comes from all over,
0:46.7	whether it be from your favorite personal finance blogger or musicians from the 1990s.
0:53.0	Quote, it's not having what you want, it's wanting what you've got.
0:57.0	Cheryl Crow.
0:59.0	At the end of the day, most financial wisdom seems to tell you that wants are bad and you should get rid of those urges altogether.
1:07.0	Live like a caveman and you can retire in three years.
1:11.0	Well, I appreciate the sentiment. I think people take this too far.
1:16.2	Money is a tool, a tool that's meant to be exchanged for things that are of value.
1:21.5	So why are wants bad?
1:23.0	If your wants are things that align with your values, aren't they completely worth spending on?
1:28.0	Frivolous wants.
1:31.0	The problem is that unfortunately for most people, the wants they spend are not
1:36.4	in alignment with their values. It's the cute but frivolous serving tray from the
1:41.4	target home decor aisle that they didn't even know existed. a rivulous serving tray from the Target Home Decor Isle
1:43.0	that they didn't even know existed
	...

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